The Life Insurance Direct Marketing Association (LIDMA) has had no trouble whatsoever persuading life insurers to sponsor its fall meeting in Anaheim, California.
LIDMA, which started its three-day meeting Sunday, lists American International Group Inc., John Hancock Insurance, Legal & General America, Lincoln Financial Group and Pacific Life as top-level sponsors, along three service providers: ExamOne, Paperless Solutions Group and TransUnion.
(Related: Pinney to Lead Life Direct Marketing Group)
The group has at least seven other life insurers on its sponsor list.
The group has been helping life insurers sell their products directly to consumers since 2005, when the Internet was just starting to compete with TV, radio, and postal mail for financial services marketers attention.
Since then, the pendulum has swung forward, and part of the way back. Many life insurers now talking about using digital systems to support live human advisors, not replace them. But many of the LIDMA insurer sponsors are offering accelerated underwriting programs designed to expand the direct-to-consumer life insurance distribution channel.
LIDMA has estimated that direct response sales may account for about 10% of U.S. individual life sales.
The list of life insurer executives speaking at LIDMA about how to cope with change, and how to hire the people needed to make change happen, includes Bob Scheppegrell of Pacific Life, Patrick Bowen and Mark Holweger of Legal & General America, and Newman Rochester Jr. of Prudential Insurance.
One of the new tech speakers is Jennifer Fitzgerald, the chief executive officer and co-founder of Policygenius.
— Read Life Direct Marketing Group Names New Leader, on ThinkAdvisor.