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Tillinghast: 62% Of CFOs Expect More Producer Recruitment

By Staff Writer

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NU Online News Service, Aug. 8, 2003, 5:28 p.m. EDT – Only 24% of the North American life insurance company chief financial officers who participated in a recent survey said their companies consider improving product distribution the most important issue, according to Tillinghast-Towers Perrin, New York.

But researchers at Tillinghast, the consulting firm that conducted the survey, found that 63% of the participating CFOs say their companies assign a high level of importance to discussions about distribution.

Tillinghast researchers used the Web to obtain survey responses from 30 life company CFOs in June.

Sixty-two percent of the CFOs said their companies would try to improve distribution by recruiting more producers.

Forty-two percent said their companies would expand distribution by investing in wholesaling, acquiring agencies or bringing aboard new agency managers and general agents.

Another 39% of the CFOs said their companies would team up with independent marketing organizations.