Moving Past the COVID Chaos: Tips for Your Insurance, Finances, and Business - August 19, 2020

August 19, 2020
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News. Insights. Analysis. Inspiration.


Today's Key Question:

Did you know that innovative solutions to the challenges faced by the life insurance industry are being developed all the time? 

See the article below from Broker World.


"How To Stand Out In A Saturated Market"

From Forbes:

* Good news travels fast. Chances are, if you’re onto something awesome, others will be too. You may face fierce competition and there’ll be new versions of your business popping up all over the place. With so many options to choose from, how do your potential customers know which way to go? How do they know which differences are the important ones, and who to trust?


"Meeting hell has gotten worse. These companies are fighting back"

From CNN:

* "Now, we have micro-meetings -- we jump on a call, cover one topic and move on," he said. So while workers are having more meetings, the net effect is that they are spending less time in meetings per day compared to pre-pandemic levels, the report also found. 


"Americans Are Growing Less Willing To Beg for Permission To Make a Living"

From Reason:

* But submission is harder to come by when the stakes are so high. The government is actually ordering people to refrain from earning their keep, and instead to humbly submit to bankruptcy and beggary. To some, submitting to the rules can look foolish and suicidal—like baring your throat to a predator.

And once you've battled government officials threatening your ability to make a living during hard times, why would you assume, after the crisis passes, that they've suddenly become wiser and better disposed to your wellbeing? People who have questioned officials' judgment and defied their orders are unlikely to lose that habit after the pandemic passes. Sure, they'll probably continue to apply for licenses to operate just to make life easy. But they'll remember that officials tried to strip them of the "privilege" of putting food on the table and they'll realize just how dangerous it is to rely on such permission.


"Solving Unique Pain Points For Life Insurance New Business And Underwriting"

From Broker World:

* Employee Pooling (EP) has a better solution. They can eliminate weeks of physical and emotional toll on all parties. EP’s accelerated informal platform uses data technology and human capital to give distributors on-demand access to the tools traditionally reserved for insurance companies. Tom Gray, CEO of Employee Pooling, said, “I have been on the distribution side of this industry for 30 years. This is how it has been. I have been determined to obtain solid underwriting data to use to get a meaningful tentative offer that can be counted on and reign in the costs and turn-around time. Our platform can find rich medical data, have it assessed by technology and our medical team and deliver an underwritable package, often within 24 hours. This way, the EP way, gives the agency the tools to put a summarized case up for bid and find the right carrier able to offer a premium that can be placed. The rest is a formality.”


Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here