John Hancock is bringing a long-term care insurance (LTCI) distribution veteran, Scott Williams, back to their team.
The Boston-based unit of Manulife Financial Corp. (NYSE:MFC) has hired Williams to be vice president for LTCI sales and distribution.
For two-and-a-half years, Williams was the head of a unit at LTCI Partners, an LTCI wholesaler. Before that, he was vice president of LTCI sales at John Hancock. He helped build John Hancock’s LTCI career agency sales team, and he also worked on LTCI sales technology, and on efforts to develop relationships with outside distributors.
Williams has a bachelor’s degree in finance and a master’s degree in business from Illinois State University. He will report to Greg Mack, vice president for sales and distribution.
In the past, executives at Manulife have said that their LTCI business “is not targeted growth.” John Hancock introduced a new family of LTCI products, the Performance LTC family, last year.
In the announcement of Williams’ hiring, Mack talks about the possibility of growth.
Williams’ “length and breadth of experience in the field will be invaluable as we work to maintain and grow our role as a leader in the industry,” Mack says in a statement about Williams’ return. “From his strong ability to foster relationships with distributors, to his knowledge of how to make the sales process easy and efficient, Scott will help us as we look to expand the role LTC insurance plays in the financial planning process and in the lives of our insureds and their families.”
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