Products and insurers' financial strength highly prized by advisers and agents

A LIMRA survey released Tuesday found that 32% of 616 producers picked an aspect of training as the most valued service offered by insurers.
OCT 24, 2011
Life insurers seeking to win advisers' business may want to step up their training sessions. A LIMRA survey released Tuesday found that 32% of 616 producers picked an aspect of training as the most valued service offered by insurers. Among those who ranked training No. 1, product training garnered the most votes (80%), followed by sales training (46%) and one-on-one coaching (32%). Technological support came in at a distant second, with 20% of the vote for the most important service, according to LIMRA. Among those respondents, 86% think web access to customer records is either critical or very important. Meanwhile, 82% consider internet access to new business applications important. In assessing what is important to them, survey respondents also were asked to identify what they deem “core elements” to any insurer with whom they would do business. Among those elements, an insurers' product line ranked No. 1 among 38% of advisers, down slightly from 39% in 2008 when the survey was last taken. Not surprisingly, advisers also have become more interested in companies' solvency since the worst of the financial crisis. Twenty-six percent of producers consider the financial strength of an insurer the No. 2 core element, up from just 16% in 2008. “While awareness of insurers' financial strength has increased for producers, a competitive product line remains by far the No. 1 consideration for producers when choosing a company with which to place their traditional fixed-life-insurance business,” Denise Marvel, assistant research director of LIMRA's distribution research, said in a statement.

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave