The future of the agent

Article Abstract:

Life insurance companies are reviving their insurance agency channels to improve their marketing performance amidst continuing decline in customers' attitudes concerning life insurance products. Industry executives consider revitalization of their marketing channels as their top concern. Agents' sales productivity declined as a result of the decrease in number of insurance agents from 244,000 in 1983 to 219,000 in 1993. Insurance agents have to offer value-added services in order to regain their share of the personal finance counseling market.

Marketing, Insurance policies

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Nissan Mutual falls, Japan's first in 50 years

Article Abstract:

Nissan Mutual Life Insurance Co has been ordered liquidated as a result of its failure, with losses amounting to an estimated $1.6 billion due to bad investments. It has also amassed a 200 billion yen capital deficit since 1993 or 1994 and is operating on almost zero assets. The first such failure in Japan since 1947, Nissan's collapse is blamed on low domestic interest rates which have eroded the profits of insurers' investments. A solvency fund established by the Ministry of Finance will allow policyholders to recover their losses.

Japan, Nissan Mutual Life Insurance Co.

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Sales managers can turn agents into sales experts

Article Abstract:

Knowledgable sales managers can help insurance agents improve their selling capabilities. However, many agencies do not hire sales managers due to perceived costs and difficulty securing quality sales management trainers. Activity reports help insurance agencies monitor producers' sales and selling techniques. Sales managers should operate as supportive resources, rather than administrators, to enhance producers' sales.

Methods, Sales management, Sales managers

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