ID 20 WINNERS - Q & A
ID 20 winners from page 8
Part 2 :
Buttering both sides of the bread
Identifying the opportunities and challenges in the market
Being on the road again
Pepe : We ’ ve had the opportunity to get back on the road this past quarter to reunite with old friends and make new ones at industry events , and I think the ability to safely meet in person again is fostering an incredible sense of idea-sharing across the industry . It really feels as if folks in our space are feeling particularly energized to tackle big challenges together this year and unify behind common goals that will ultimately transform the way our life insurance and financial services world operates — all for the benefit of consumers .
Levin : I ’ m seeing a return to a “ new normalcy .” Individual producers , distribution and marketing organizations , and industry associations are returning to in-person meetings . Carriers and industry partners have returned to their offices and to the conference exhibit hall . And , having figured out how to work in a virtual world , we are now relearning how to work face-to-face . The great news is that we can live in both worlds — producers maximizing time and seeing more clients virtually , while gaining back the quality connection with an in-person meeting .
Digital , digital , and more digital
Szychulski *: From where I sit , the big trends of 2020 and 2021 were all about digitization . There were implications at every step in the sales process and we were committed to limiting interruptions despite what was happening in the macro environment . As we look ahead to the rest of 2022 , I see a similar , albeit slightly shifted , focus on digitization .
Pepe : I think an ever-present opportunity for industry players is the opportunity we have in front of us to continue more fully embracing the digitization of our business . I hope to see the industry keep its momentum going so we can modernize how we sell and manage life and annuities through widespread implementation of common API , better data transparency practices , and perhaps even venture into leveraging machine learning and artificial intelligence .
What ’ s important to note is any digitization effort is not an initiative with the end-goal of making life insurance and annuity sales touchless , but rather an initiative to support the people who sell , broker , and distribute products so we can deliver on what today ’ s consumers expect in terms of superior service and seamless processes , pre- and post-sale .
Essick : The drive and push towards the digital transformation of the life and annuity sector continues to accelerate , even as COVID restrictions are eased . We believe the sector will carry the transformation momentum forward into the year , whether COVID restrictions return or not . Given distribution consolidation , new digital players and mounting competitive intensity , every BGA should be prioritizing its digital future now .
Sorebo : BGAs and the advisors must keep pace not just with the demands of advisors ’ new digital capabilities , but with the expanding expectations of their end consumers . For Gen X , Millennials , and Gen Z clients , that means they must explore and provide digital opportunities to secure and streamline the purchasing process .
ID 20 winners continued on page 12
A very welcome trend is the return to in-office visits and live agent meetings . It ’ s great to be out of the Covid cocoon !
Garofoli
10 Perspectives Q2 2022