We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (21,155)
  • Industry Conferences (2)
  • Industry Job Openings (35)
  • Moore on the Market (414)
  • Negative Media (144)
  • Positive Media (73)
  • Sheryl's Articles (800)
  • Wink's Articles (353)
  • Wink's Inside Story (274)
  • Wink's Press Releases (123)
  • Blog Archives

  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • September 2008
  • May 2008
  • February 2008
  • August 2006
  • What’s Coming Down the Producer’s Pipeline in 2012?

    December 28, 2011 by Ray Ohlson

    December 21, 2011

    By Ray Ohlson
    AnnuityNews

    The past few years have been trying for the world’s economy. We still have a very high unemployment rate and an anemic economic growth rate. And just when we think that our financial markets are bouncing back, we have another setback – the interest rate environment.

    Interest rates are at, or near, an all time low and Americans’ retirement plans are still suffering from a lost decade in the stock markets. All of this has made for a very uncomfortable retirement for many. It also provides a scary outlook for those nearing their target retirement dates. I think it’s safe to say that America is facing a crisis in the financial confidence environment.

    The avalanche of boomer retirees is bringing about a desire and need for products that are safe and predictable. So, what does that mean for the insurance industry – particularly those of us that make a living offering these products?

    Here are 10 of my predictions for 2012:

    • You’ll need to have a brand. Your prospects will be asking, “Who are you and what do you stand for?” The consumer will (under their breath) ask those questions when you offer solutions and products. They will say, “So what. What’s in it for me?”
    • The day of the ‘one size fits all’ product is gone. Prospects in 2012 will buy programs that are tailor-made for their needs. They are becoming keenly aware that it’s not the economy…but the “econo-me”.
    • An agent or business without a website is not a business. Enough with the excuses. It’s easy and inexpensive to get in the game.
    • Put your golf shirts and casual clothes back in the closet. People want to deal with people that look professional. Casual dress worked well when the economy was thriving but it is different today.
    • Agents will align with marketing organizations that offer more than just product and commission. They are looking for assistance and a partnership approach. “Independence with Affiliation” will be the desired relationship.
    • Suitability standards will be more stringent, compensation (commission) structures will be subject to change. We will see a ‘leveling’ approach and possibly a reduction in total commissions. And, I foresee an ‘asset under management’ approach to the commission payments on fixed annuities.
    • Products will become more consumer-oriented. The insurance companies will be under the microscope too. They want policyholders to stay with them for a long period of time. And the boomers will demand quality.
    • Life insurance sales will surge in the boomer market. They are in need of coverage and it will be buying it from someone, somewhere else. The reduction of Social Security benefits upon the death of a spouse also indicates the need for additional coverage.
    • Online/offline transactions are evolving. Consumers will gather financial information online and execute the transaction offline. They will come prepared – which means it will also be the year of listening.
    • Heirs will inherit ‘tax time bomb’ annuities. Many annuities that are positioned to be passed down to other generations are actually tax time bombs. Much of this money will be moved to single premium life policies.

    Yes, these are just my predictions for what will happen in our business during 2012. But there is one thing I firmly believe – it is over for the amateur producer that is ‘winging it’. Next year will truly be the year for true professionals. I believe 2012 will bring the best of times for us.

    Raymond J. Ohlson, CLU, is president & CEO of The Ohlson Group, www.ohlsongroup.com.

    © Entire contents copyright 2011 by InsuranceNewsNet.com, Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.

    Originally Posted at AnnuityNews on December 21, 2011 by Ray Ohlson.

    Categories: Industry Articles
    currency