Doug Reynolds, former SVP and CIO of Allianz Life Insurance Company of North America (Minneapolis), has traded up his SVP title for that of COO. "Now, I'm responsible for managing insurance administration, back-office processing, legal compliance and claims," explains the 2004 Elite 8 honoree.
Along with his new responsibilities, Reynolds has acquired new challenges. "We are in the process of changing the orientation from a product to a customer focus and looking at the customer holistically," he says, adding that delivering products that consistently meet customers' complex needs is the greatest challenge for IT. Part of making the customer experience consistent, Reynolds notes, is updating the core technology that supports different distribution channels. "One of the most important issues will be unraveling the hairball of systems that our legacy is built on," he says.
According to Reynolds, in 2006, Allianz will look to build more-intimate relationships with customers by addressing their individual needs. "With the needs of the baby boomers becoming more complex, managing a portfolio has to be simple," he says. "We have to find ways to make very complex products very fast and easy for our customers to use. The future of the industry is in portfolio comprehensive wealth management packages."
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