Disclosure to the Life Insurance Customer

September 21, 2021 at 11:00 AM / by Ibhaze Uduehi posted in Life Insurance Business as Usual  /  3 minute read

Everyone wants to know what they are getting out of a transaction, be it professional or personal. This applies to customers of any industry, including life insurance. Despite the complexity of policies, it is essential to provide adequate information about the products being sold to the customer. When disclosing product information to customers in the life insurance industry, keep in mind the following:

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Modernizing the Distribution Strategies of Life Insurance Products

August 17, 2021 at 11:00 AM / by Ibhaze Uduehi posted in Life Insurance Business as Usual  /  3 minute read

Product distribution is essential to both agents’ and customers’ journeys. As digital options expand, expectations evolve because customers want instant access to their insurance information. While progress is underway, work still needs to be done on the industry’s distribution models so that they meet evolving demands, whether they are in person, digital, or a hybrid of the two.

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Customer-centric Insurance Product Design

July 13, 2021 at 11:00 AM / by Ibhaze Uduehi posted in Life Insurance Business as Usual  /  3 minute read

CCIR and CISRO expect that the design of a new insurance product or significant adaptations made to an existing product take into account the interests of the target Consumers’ group. With the development of complex products that are sometimes difficult to understand, any weakness in the design or the related disclosure documents can increase the likelihood of inappropriate choices from Consumers.” - ccir-ccrra.org

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Email Marketing Tricks for Advisors to Convert Leads

June 15, 2021 at 11:15 AM / by Ibhaze Uduehi posted in Life Insurance Business as Usual  /  4 minute read

Previously, we gave an overview of how to approach email marketing in three simple steps. Now we’re diving deeper into the process of nurturing leads through sustainable email marketing campaigns.

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Outsourcing Best Practices – Four Considerations for the Life Insurance Industry

June 1, 2021 at 11:00 AM / by Ibhaze Uduehi posted in Life Insurance Business as Usual  /  3 minute read

“Outsourcing is defined as delegating to a service provider, over a defined period, the performance and management of a function, activity or process, that is or could be undertaken internally by the Insurer or the Intermediary itself.” – ccir-ccrra.

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Email Marketing Tricks to Keep at Your Fingertips

May 18, 2021 at 11:00 AM / by Ibhaze Uduehi posted in Life Insurance Business as Usual  /  2 minute read

As an Advisor in the Life Insurance Industry, creating relationships with the customer is essential. Email marketing is one of several channels through which relationships can be created and fostered. What is the recipe for success when it comes to email marketing? How should you structure the conversation and leave room for continuity after your first “welcome” message? Consider these three tips before you tackle your next email campaign:

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Conflicts of Interest in Life Insurance

May 4, 2021 at 11:00 AM / by Ibhaze Uduehi posted in Life Insurance Business as Usual  /  2 minute read

Whenever a business is at a crossroads, Conflict of Interest invites the conflicted party to think ethically in consideration of the customer’s needs. While the Fair Treatment of Customer’s guidelines centers on protecting the customer, the outcome of Conflict of Interest equally aims to ensure that all parties’ interests are taken into account when decisions are being made.

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Change Management in the Life Insurance Industry

April 20, 2021 at 11:00 AM / by Ibhaze Uduehi posted in Life Insurance Business as Usual  /  2 minute read

Change—in the right setting, at the right time, and with the right frame of mind—can be a good thing. Often, it is synonymous with growth, either in personal or professional life. More often than not, though, it can be a struggle to map out the process of going from the status quo to a more ideal situation.

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Corporate Governance and Culture in Life Insurance

April 6, 2021 at 11:00 AM / by Ibhaze Uduehi posted in Life Insurance Business as Usual  /  2 minute read

A company’s corporate governance is important to investors since it shows a company’s direction and business integrity. Good corporate governance helps companies build trust with investors and the community. As a result, corporate governance helps promote financial viability by creating a long-term investment opportunity for market participants.” – Investopedia.

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Three Considerations for Business Modernization in Life Insurance

March 9, 2021 at 11:00 AM / by Sarah Sheppard posted in Life Insurance Business as Usual  /  4 minute read

When you think of modernizing your business, going digital may be what first comes to mind. While the importance of being digital is reinforced globally, it is not the only component that should be considered to ensure the changes you are making are optimizing workflow and improving efficiencies. In our journey to standardize and simplify life insurance advisor compliance through modern technology, we have learned valuable lessons along the way that corporations, MGAs, or insurers in the life insurance industry can consider when facing business modernization.

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