CHAIR COLUMN
Time to lead
The 3rd quarter is in the history books and as we look ahead to 2022 opportunities , I am incredibly optimistic about the future of life brokerage . The annual meeting is officially back — in person . It will be great to reconnect and get focused on how we can all help grow this business .
Your CEO , Dan LaBert , and the NAILBA team have worked tirelessly to ensure a successful , high quality and safe meeting . For those not able to join us in Orlando , we are also offering additional content in November and December on our virtual platform .
In addition , the NAILBA board has worked on your behalf this year to ensure the future success and growth of NAILBA . We are in good financial shape , have a totally new staff , and are looking at ways to provide more value to our members . Examples of this are : the case manager certification program along with the Brokerage in Motion monthly online video program , and the digital newsletter and magazine content shared throughout the year .
Jason E . Lea , CFP NAILBA Board Chair President Brokers ’ Service Marketing Group Providence , RI
11 million policies sold per year today . 50 years ago , the number was over 20 million . Yet , in that same span of time the population has almost doubled .
Staying relevant
There is a lot to celebrate as NAILBA is on the rise . Yet , as an industry — we have some challenges in front of us that need your help . Yes , rates are low , product pricing is tough , fewer carriers offer GUL . Our process inefficiencies and technology lag embarrassingly behind other industries . But the biggest threat — the one we must defeat — comes down to one word : relevancy . Our products are simply not as relevant as they used to be : in the mind of consumers , advisors , legislators , regulators .
NAILBA was founded to promote and protect independent distribution because in 1981 that was the task at hand — we were nascent compared to our competitors in the career agency distribution systems . Term vs . whole life , carrier choices vs . one great brand , etc …
Today the challenge is different — our whole profession is at stake .
Here ’ s proof
Ask a friend ( not someone in the life business ) what products they think of when they hear the word insurance . They will almost assuredly say , “ Home , auto or health ,” not life . Why is this the case ? Those products are mandated . Ours are optional .
Yet in this great challenge , the opportunity for us is enormous . Facts : 11 million policies sold per year today . 50 years ago , the number was over 20 million . Yet , in that same span of time the population has almost doubled .
Time to lead
So , 40 years later , what do we do to ensure the future success of NAILBA ? We lead . We lock arms across the industry to advocate for and invest in the relevancy and growth of what our profession does . It ’ s time to protect the future of American families and businesses ; and be proud of that . Right now your board is finding ways for NAILBA to take a leadership role in galvanizing our profession for the future .
This gets me fired up … it ’ s what we are here to do , so let ’ s get started together at NAILBA 40 !
I look forward to seeing you all in Orlando !
6 Perspectives Q4 2021