Ten ways to thrive as an international life company
By Mark Battersby, 3 Nov 15
In the latest in a series of viewpoints from prominent life industry figures, Sean Christian, executive director – offshore of Canada Life International, sets out what it takes to thrive as an international life office.
As adviser needs and wants continue to change over time, successful life companies need the ability to quickly adapt their own distribution models to meet these changing needs. The traditional model of a field-based broker consultant presents a number of challenges in today’s fast moving world. The sheer amount of downtime a broker consultant can waste in airports, driving between meetings, sat on public transport or simply dead time between adviser meetings is an inefficient distribution model. Advisers are also requesting a different kind of support as has been highlighted.
Whilst there will always be a need for face-to-face relationships, successful life companies are adapting their distribution models, typically changing the mix between regional face-to-face sales teams and centralised telephone based account managers. Investment in technology applies equally to distribution models. Video conferencing, web-based provider tutorials, online technical support and advancements in social media can result in a life company actually having more contact with an adviser compared to the traditional approach. The difference is the contact is less intrusive on the adviser’s working day, is more readily accessible and is far more cost effective for both the life company and the advisers it serves.
Tags: Canada Life | Sean Christian
