The Hartford Financial Services Group, Inc. Hartford, Conn., has launched a new initiative to tap that distribution channel for sales of pension products, group benefits, and individual life insurance to business owners.
Greg Boyko, currently president and chief executive officer of Hartford Life Insurance K.K. in Japan, will return to the U.S. on Oct. 1 to lead The Hartford's new cross-selling initiative. In the near term, the initiative will focus on helping appropriately licensed property-and-casualty insurance agencies grow revenues from sales of 401(k) retirement plans, group benefits and individual life insurance products. Boyko is being replaced as CEO in Japan by David Levenson. In his new role, Boyko will report to Ramani Ayer, chairman and chief executive officer for The Hartford. Jack Kennedy, director of the cross-sell initiative, will report to Boyko.
"Serving as a primary source for a business customer's multiple insurance and investment needs helps our agents sell more products and, in turn, grow their own businesses," Ayer said. "Research by The Hartford indicates that 78% of businesses with 21 to 100 employees wish they could turn to a single source for all of their financial needs. We want that single source for P&C, life and investment products to be The Hartford."
In his new role, Boyko is being asked to help foster the necessary collaboration between The Hartford's property-and-casualty, investment, group benefits, and life insurance businesses to make specific products more readily available to P&C agencies and their business customers. Boyko, who started or managed successful international businesses in Japan, Brazil and the United Kingdom, will use those skills in starting The Hartford's new cross-selling initiative, Ayer said.
"Greg has years of experience in creating successful relationships with colleagues and external stakeholders worldwide, and he will use those same skills as we look to build the cross-selling initiative and grow the value we share with our key distributors," he said. "Under Greg's leadership, Hartford Life Insurance K.K. grew from an unknown start-up to the market leader in variable annuity assets under management in Japan. I can't think of anyone who is better suited to make our cross-selling initiative take off."
