John Hancock Life Insurance Company, Boston, is putting its name back on its career agency unit.[@@]
Back in 1999, Hancock dubbed the unit “Signator Financial Network” in an effort to emphasize the objectivity of the agents’ advice.
Now, to take advantage of strong consumer recognition of the Hancock brand name, Hancock is changing the name of the unit to “John Hancock Financial Network.
Hancock believes the change will help Hancock agents attract clients and draw more agents to Hancock, Hancock President James Benson says.
The move to use the Signator name to communicate the idea of agent objectivity “was not particularly helpful and was confusing in the marketplace,” Benson says.
Market researchers who surveyed consumers and agents for Hancock reported that consumers were more far familiar with the Hancock name and that a strong majority of agents preferred the Hancock name, Benson says.