|Recap - 2012 LOMA Life Insurance and LIMRA Retirement Conferences|
|Written by Ian Lundahl|
|Wednesday, 02 May 2012 15:27|
Last week, we attended the LOMA Life Insurance and LIMRA Retirement Conferences down in sunny Orlando, Florida. Many industry leaders were present for discussions that ranged from current life insurance and annuity trends to the overall state of the retirement landscape.
Bob Kerzner, CEO of LIMRA/LOMA delivered the opening remarks for the Life Insurance Conference and highlighted several key trends uncovered by LIMRA’s research. Mr. Kerzner touched upon the 75% increase in SPIA sales in 2011 and shared some consumer opinion charts that drive home the importance of trust in the advisor-client relationship.Several concurrent breakout sessions covered a wide range of topics that focused on underwriting, political and governmental influence on the retirement industry, product marketing, advisor strategies and other pertinent topics. One session that we found particularly relevant, was titled Competitive Intelligence 101. As competitive intelligence experts, it was interesting to see the internal approach and utilization of competitive research by MassMutual and Prudential.
As the conference was located but a short distance from the Disney theme parks, attendees were privy to a general session address delivered by a marketing executive for the Disney Corporation. Special emphasis was placed on the difficult economic and personal challenges that faced Walt Disney as he built the Disney brand. The speaker also keyed in on several current day challenges that face the company. The central theme of the address was that while there are certainly a number of challenges facing the retirement industry, effective leadership will enable both advisors and financial institutions to navigate through turbulent times.