Case Studies

Background

One large company undertook a major customer centricity project. Their goal was to create a seamless experience for the customer regardless of who they were contacting at any given moment. The project scope included better aligning advisor recruiting, selection, and onboarding to support their new strategic vision. They wanted to make sure the right people were being hired as client-focused advisors.

Solution

We applied LIMRA’s Sales Channel Choice model and Performance Pyramid job model. The Channel Choice Model defines the most important factors influencing consumers’ channel perceptions. LIMRA’s Performance Pyramid helps companies better align their recruiting, selection, and development process to organizational objectives. We collaboratively

• Developed an  ideal candidate profile
• Implemented a recruiting, selection, and onboarding process tied directly to the knowledge, skills, and abilities needed to deliver key business outcome

Background

An organization with a large captive audience had low penetration rates. They knew that this audience should be receptive to talking with their sales reps… but something wasn’t clicking. LIMRA consultants observed that the organization’s sales force received only initial training. Experienced producers did not receive advanced sales training and had little exposure to the home office leadership once on board. Together, we decided business outcomes would improve by providing the sales force with greater attention, vision, alignment, and focus.

Solution

LIMRA developed a custom training workshop for experienced agents. The workshop drew on LIMRA’s distribution and markets research to provide producers with a systematic approach for growing their businesses and increasing market share for the organization. In the workshop, experienced producers learned about the organization’s mission and the markets they serve. And they were led through exercises in which they created their own productivity and marketing plans. Participants put the plans into immediate use after the class, and quickly increased their personal productivity. The organization is increasing their influence with their audience and, perhaps most importantly, retained every rep who attends this program. The workshop is now held bi-annually at corporate headquarters.

Background

An organization recognized they had a problem establishing and maintain strong relationships with independent agents and advisors. The reason? Their corporate marketers and wholesalers did not really understand the needs of the agents and advisors they served. Time and effort were being wasted: Corporate marketers created presentations and materials. Frustrated wholesalers redid them. And both missed the mark.

Solution

For this project, we created two custom training programs:

• For Marketers: We applied LIMRA research on wholesalers to create a program teaching marketers key skills for creating presentations that went beyond product knowledge to enable interactions and conversations between wholesalers and advisors.
• For Wholesalers: We applied LIMRA research on wholesalers and behavioral economics to create a program helping wholesalers become more than a “talking brochure” and provide real value to their agent and advisor relationships. Perhaps best of all, wholesalers are using marketers’ new presentations as is, no edits required.