A Negative Side Effect Of A Digital Era

2125 Words Jun 1st, 2016 9 Pages
Societal Environment Economic forces present opportunities for CNO when operating during high unemployment rates. It is beneficial to CNO for having a larger pool of candidates to select future employees from, but also increases their competitors’ selection. CNO’s earnings have potentially detrimental effects from inflation due to individuals not being able to afford the services offered. Therefore, CNO needs to ensure the continual offering of competitive rates within the insurance industry. Technological forces continually affect CNO by forcing innovations for allowing improved communication. Improving communication will ensure faster response times from the company providing superior experiences to the customers. CNO is improving their technological standpoint by eliminating paper applications. They are promoting electronic application submissions, which furnish a faster response time. Furthermore, providing the company underwriters with relevant information immediately allows for a quicker approval or denial time. A negative side effect of converting to a digital era is the creation of opportunities for information abuse and neglect. Therefore, CNO having policies in place for violations of information abuse and neglect is a direct result. Political and legal forces threaten CNO financial gains to securities licensing and regulations. CNO having their securities licensing allows the promoting of securing financial growth and stability for clients by the…
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