ID 20 WINNERS — Q&A
Why Factor Q&A from page 18
PART 2:
Strategies for
working in the
new norm
Changing the world as we know it
Garcia: I remember being on a plane at Reagan National airport
in Washington DC on September 11, 2001, on my way to NYC at
8:30am. Little did I know at the time that the world, as I knew it,
change, and the positive attitude or drive needed to continue
would change forever. The COVID-19 pandemic will likely have
moving forward.
an impact on our world far greater than 9/11 ever did. People
Verbos: With social distancing now common across the country,
are scared and it is events like 9/11 and the Coronavirus that
our traditional way of doing business through face to face client
make people face their own futures and their own mortality
meetings has become impossible. In the blink of an eye, we’ve
head on, with all of the emotional and very real implications
had to pivot our business and find new ways to connect with
that ensue.
our clients and in a time when they need our advice the most.
Our industry has been at an inflection point for some time,
For this reason, it’s important that we as financial professionals
but this is a real wake up call. Given the continued woeful
are still able ensure our clients that we can help them obtain life
LIMRA statistics on life insurance ownership, maybe now —
insurance in the midst of the COVID-19 pandemic.
finally, we will realize, as an industry, that we have to do things
differently. Consumers need the products that we sell…we just
Time for empathy,
aren’t reaching enough people in the “place” and “manner”
diligence and education
that works for them. The good news is that awareness is high
and we need to make an impact — NOW.
Rubin: In my opinion, the keys to supporting clients and producers
Pinney: I see today as being possibly the single best moment
through this are empathy and diligence. You may have no idea
in a lifetime to grow our businesses, gain new clients,
what the person on the other line has gone through in the
and take advantage of the present turmoil to
last 30-60 days. But what we do know is there will
redefine how we do business and add
be a need for our solutions before, during
Garcia: People are
new capabilities and technologies
and after this pandemic. Therefore, we
that will allow us to better face the
must stay steadfast yet nimble, creative
scared and it is events like
future. Those who adapt quickly and
yet sensitive in the ways we get our
9/11 and the Coronavirus
successfully navigate the present
message to the market.
that make people face their
business environment will thrive in
Garcia: Insurance advisors should be on
own futures and their own
both the short- and long-term and
the offensive; reaching out to existing
mortality head on…
have the rewards that this success
clients and referral sources at this time
brings. I’d add that fear and uncertainty
of need and confusion, not in a predatory
are always present. There are always winners
manner, but in an empathetic and educational
and losers, both in business and life. Winning
manner. Many consumers do not understand that
means overcoming fear, uncertainty, and the obstacles
insurance CAN be bought in today’s environment and in fact,
that occasionally crop up by having a plan or specific objective
pandemics are NOT an exclusion under an insurance contract
you want to achieve, the ability to adapt as circumstances
per the National Association of Insurance Commissioners
20
Perspectives
Q2 2020