The title of this commentary was used in the November issue of “Best’s Review.”  It was based on an interview that Jeff Roberts had with the new CEO of LIMRA, David Levinson.  The article also included insight from the former LIMRA CEO, Bob Kerzner.  The article touched on the new road map being developed by the life insurance industry.  It also pointed out that much of the product designs and marketing plans were being developed in the home offices, as opposed to really focusing on the needs of the customer.  I also feel that it is not considering the needs of the agent.

There were some interesting numbers in this piece.  To start with, sales of life insurance were down 3% in the first quarter, and down 5% in the second quarter.  LIMRA also stated that 40% of Americans are uninsured.  50% of Americans are underinsured and the underinsured “gap” is $200K.  While insurance companies view this as a significant problem, I see it as a great opportunity.  Think about this:  If life insurance claims continue to accelerate due to the death of baby boomers, and sales continue to go down, profits will be hit in the insurance company financials.  But, for us the agents, there is a tremendous opportunity to assist our clients with “dream completion” using life insurance.

For those of us working in the younger markets, a simple, easy to issue term life policy with return of premium could be the easy access point to that market.  The same holds true for critical illness sales.  Bottom line, if we have a consultative relationship with our clients, and not a transaction oriented relationship, we can total account develop our clients and the generation that they have given birth to.  So, if you need help developing a “New Road Map,” give us a call.  Thanks to LIMRA for the inspiration.

Contrary to some other mid-sized firms, we are in an expansion mode and welcoming smaller firms that wish to take advantage of the marketing, research and education that we provide.  Having “young guns” has also helped as emerge as a firm with a solid grasp on digital marketing.  And yes, that includes the ability to offer you digital consumer leads.  

​And, we also still consider the agent that does $1 million in annuity premium or $50,000 in target premium a real asset to the firm.  We feel that in those situations, we can increase the agents income by 50% in the first year with us just following some of our tried and true measures while applying a dose of modern day marketing. 

So, if you feel as though you have been abandoned by your IMO, you need to take another look at The Ohlson Group and find out why agents from coast to coast continue to refer to as… a different experience.  I look forward to working with my sons and you for many years to come.  Give us a call and let’s talk.  I have developed marketing plans from Muncie, Indiana to Milan, Italy.  I think we can help you in your neck of the woods. 

Your target market, and current clients, are being sent information on financial products and trends every day.  They are receiving it via email and direct mail.  Regarding the mail, some are getting postcards and some are getting a  direct mail offer in an envelope. 

The big winners are the firms that are offering quality content to their clients and prospects.  That, in many cases, will be a call to action for your clients.  Let’s not make the mistake in believing that your client is not going to purchase additional products.  They gave you part of their nest egg, and are waiting to see how you perform before talking to you about their other problems that need to be solved.

So, what do you send them?  We, at the Ohlson Group, are writing content every week.  If you are a member of The Safe Money Places Agent Network, we will send the content and drip on your clients monthly for you.  There are so many things to talk about.  Example, what are your clients doing with their RMD’s?  Maybe they should consider using part of that check to fund a simplified issue life policy?  That death benefit could be earmarked for final expense, or maybe to take the sting out of losing one Social Security check when one spouse passes away.  Maybe they should be considering a “hybrid product”?  You know, an annuity or life product that has accelerated benefits when a chronic illness strikes.  These products are really gaining traction as retirees know how expensive medical costs get when they can’t do 2 activities of daily living.

I could go on and on.  Any IMO can give you products and commission.  At The Ohlson Group, we can provide you with a digital platform that will keep you in constant contact with your clients and prospects.  Want to know more?  Schedule a phone appointment with one of our marketing consultants and find out why agents from coast to coast continue to refer to us as… a different experience. 

Wow... and I have done both.  I am sure many of you are in the same boat.  Or, you may have only door knocked. Well, I became an MDRT member in my first year by cold calling on the phone, knocking on business doors, clipping announcements out of the paper and sending congratulatory notes until I could establish a good flow of referred leads.  And... a process to get the referred leads.  

I was really reminded of this recently, when I had the opportunity to chat with an associate and friend in the business at an Indiana Pacer game.  We are near the same age and we agreed that the market place is so different, but still ripe with great opportunity if you know what to do.  We also had another similarity, and a solution that kept us in the business when we could have been a perfect candidate for failure.  Let me explain…

Tim, my friend (and that is his name) and I are both Life members of MDRT.  And, we both moved to strange cities after being in the business a couple of years.  Tim moved to North Carolina and I moved to Baltimore.  We were intrigued with the opportunities and the offices at that location.  Neither one of us knew a person in these locales. So, you might ask, how did we make it?

Let me give you the solution: "10-3-1 and the One Card System, Al Granum's gift that keeps on giving."  Brian Anderson wrote an article on Al in January 2014, shortly after Al's passing that year at the age of 91.  This system was also based on activity, and the quest to get a stream of referred leads.  He was the pioneer of 10-3-1.  As you know, every 10 leads would produce 3 prospects and one would become a sale.  After years of research, this ratio remains the same regardless of how experienced the agent was.  Now, there were no digital leads at the time I started in the business... of course not.  I spent $700 for a Bomar calculator and felt that I had the most powerful tool in the world.  But, I believed in the one card system and activity.  One of our best associates in the field still uses the system today and is always ultra-successful (his real name is Steve).  

​So, we are able to produce digital leads for our agents.  Yes, the stats still hold true at 10-3-1.  The successful pro uses more than one venue to obtain leads.  And, they drip on the clients and prospects each and every month with quality material.  And that my friends... is how you get referred leads.

So, in closing, enjoyed my time reminiscing with Tim, loved the cold beer and who doesn't like a hot dog at a game?  Bottom line, if you are tired of lip service, and want to get your insurance game up to pro level... there are plenty of openings on The Ohlson Group team. Give us a call.