Broker-dealers and other financial services companies have upped the ante on customer service, and now the insurance industry must follow suit if it intends to remain competitive, according to Michael Keeler, SVP and director of individual life operations at The Hartford. In an address at the LOMA Policyholder Service Seminar in Orlando, Fla., Keeler explained that his company remains committed to improving service despite financial pressures.

"Service is becoming a key factor for consumers and financial professionals when they decide which life insurance company to do business with. Life insurers that can consistently deliver higher levels of service have a significant advantage and stand to increase their market share as a result," he said.

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