The life insurance industry is on the brink of a potential revolution driven by artificial intelligence (AI) technologies like ChatGPT. As AI-powered risk assessments enable a more personalized and dynamic approach to underwriting, the implications for traditional life insurance agents, underwriters, and consumers are significant. This article explores the groundbreaking ways in which AI could … Read more
It has already started: life insurance industry disruption I’ve met a lot of people in the life insurance industry who have been very successful in the past and think that all they have to do to stay successful is to keep doing what they’ve always done. There’s a word for that: denial. Look around—everything else is changing, … Read more
September is Life Insurance Awareness month. This month is a great opportunity to show clients and potential clients how important life insurance truly is. These materials from John Hancock are great resources to help you and your clients. These are producer approved materials. If you are a consumer, click here. Financial security and wellness are goals that are highly ranked … Read more
Selling life insurance is way more than products, strategies, and selling… People often ask me about trends I’m seeing in the life insurance market these days. It’s a vague question, but I suspect the people asking want to hear about premium finance, deferred compensation, long-term care, and other strategies. Or maybe the conversation is supposed to be product-specific, around … Read more
Being a successful insurance salesperson is never easy, but if you keep in mind a couple of basic principles, you will see much better results for your effort. Three of the most important are easy to remember, because they all begin with the letter A: Activity, Attention, and Asking. 1. Activity: The most important … Read more
It was a 70 degree-plus-day in January in Charleston, SC—just what I’d ordered up. I’m motivated even on a bad day, but today I had that extra kick in my step. My schedule was full but flexible, with new people to meet, new ideas ready to pop into my head, and an incredible industry filled … Read more
According to recent studies, a controlling shareholder’s median age is 60 years old. For many of these business owners, their largest asset is their investment in the business. As retirement age nears for these business owners, advisors should find opportunities to begin a conversation with their business owner clients about their inevitable exit. Yet, you’ll … Read more
Let’s get right to it as there isn’t a lot of time: 1) Less than 50% of Wealth Managers talk to their clients about life insurance. Of the 50%, many of them talk about it, but only in passing. 2) The life insurance industry is aging, with the average age of a life insurance agent … Read more