SUMMER 2021 3
Table of contents
4
EDITOR ’ S NOTE : Are we maximizing our potential ? Trends impacting the independent insurance and financial services markets
By Pam Sheehan , NAILBA Senior Director , ID Media Network
4-15
16
20
22
24
Trends in sales and underwriting Key takeaways from the recent LIMRA 2021 Insurance Barometer report on insurance product ownership trends
Bridging the gap with technology Good news for agents and brokers as carriers increase digital investments
By David Levenson
Shaping the digital sales landscape Latest sales technology trends to meet consumer demands
By Bill Unrue
Virtual sales trends Does virtual tool convenience equal sales success ?
By John Flueckiger
Making an impression Three trends in community involvement for advisors
By Brenton D . Harrison
26
28
30
31
32
35
Social Security Snapshot Understanding the benefits and trends in Social Security
By Sylvia Gordon , JD
Gaining headwinds VUL is picking up speed as a worthy alternative to IUL
By Charles Arnold
Ensuring the show goes on Questions to consider for rightsourcing your business
By Michelle Anderson
Do we own our future ? Top technology trends defining the future of insurance
By Christian Lous Lange
The rise of platforms What it means for the life and annuity sector
By Matt Essick
Annuity Trends The factors impacting the different types of annuities
By Chuck Ritzke , FSA , MAAA
ID Trends is published bi-yearly by NAILBA , the National Association of Independent Life Brokerage Agencies , as a resource to the insurance and financial services industry . It is distributed both in print and digitally to NAILBA members , industry professionals , and attendees of the NAILBA annual meeting .
10304 Eaton Place , Suite 100 , # 1022 Fairfax , VA 22030 ( 703 ) 884-1525 www . nailba . org
NAILBA BOARD OF DIRECTORS : Jason E . Lea , Chair John Gilbert , Chair-Elect Victoria Van Dusen-Roos , Treasurer Seixas “ Chad ” Milner III , Immediate Past Chair
Jim Duff Jason Grover Debbie Hannam
Luke Ramsey Malcolm Sklar James Wong
NAILBA STAFF :
Daniel LaBert Chief Executive Officer
Pam Sheehan Senior Director , Strategic Partnerships & ID Media Network
Joangel Concepcion Director , Membership & Digital Engagement
Allison Howard Client Support • ahoward @ nailba . org
Katie Holder Executive Assistant
Kelly Maheu Executive Director , NAILBA Charitable Foundation
Shara Wells Director , Annual Meeting
TEAM EDITORIAL CONTENT AND SALES : Pam Sheehan • PSheehan @ nailba . org
LAYOUT AND DESIGN : Tim Ingersoll • tim @ tsolldesign . com
PRINTING AND DISTRIBUTION : OneTouchPoint • https :// 1touchpoint . com
ISSN 2639-9784 ( PRINT ) ISSN 2639-9806 ( ONLINE ) Copyright is reserved throughout ID Trends . No part of this publication may be reproduced or reprinted without the expressed written consent of NAILBA . The views expressed in ID Trends are those of the authors and are not intended to represent the views of NAILBA .
POSTMASTER : Please send change of address notices to :
ID Trends c / o NAILBA 10304 Eaton Place , Suite 100 , # 1022 Fairfax , VA 22030
SUMMER 2021
NAILBAID trends
AUTHORS AND INTERESTED WRITERS :
ID Trends welcomes comments and feedback on articles and content . Visit NAILBA . org / Media for content submission guidelines and schedule , or to submit your article for consideration . Contact Pam Sheehan at PSheehan @ NAILBA . org with further questions . ADVERTISING : Please visit NAILBA . org / Perspectives for 2021 Media Kit , ad rates , and terms . To learn more about additional opportunities to partner with NAILBA , contact Pam Sheehan at PSheehan @ NAILBA . org .