Roughly two-thirds of life and annuity producers surveyed by Deloitte (http://www.deloitte.com) expect to change carriers within the next 12 months. Twenty-nine percent plan to add carriers and one-third expect to both add and drop carriers. Sales support, speed of underwriting and policy issue, and carrier brand are the top factors influencing these decisions. Forty percent are not satisfied with the support they currently receive. And, with more than 80 percent of a producer’s total compensation coming from two favored carriers, there is room for improved producer loyalty and sales through better support, said Rebecca Amoroso, vice chairman, Deloitte LLP and insurance leader.
Deloitte’s “Voice of the Producer: Life and Annuity Producer Survey” examines four producer personas based on producers that value different placement factors:
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access