Summary

Andrew Unkefer, an industry legend joins us to talk about the importance of relationships in the industry, the impact of technology, the future of the producer and IMO space, the shift to virtual meetings, consolidation in the industry, the impact of regulation, and the integration of estate planning and financial solutions. Andrew also shares his personal focus and future plans.

Takeaways

• Relationships are still a key aspect of the insurance industry and producers and IMOs that prioritize serving their producers and building partnerships will thrive.
• The industry is experiencing a shift towards virtual meetings, with some producers successfully initiating relationships and conducting business through platforms like Zoom.
• Consolidation is happening in the industry, and producers and IMOs need to adapt and concentrate their businesses to remain successful.
• The integration of estate planning and financial solutions presents a significant opportunity for producers to provide a higher level of benefits and services to their clients.
• Regulation is an ongoing concern in the industry, but state-level protection can help ensure consumer protection and maintain the integrity of the industry.

Chapters

• 00:00 Introduction and Background
• 01:22 Starting in the Insurance Industry
• 03:16 Educating People about Annuities
• 06:08 The Importance of Technology in the Industry
• 07:31 The Persistence of Paper Kits and Brochures
• 08:08 The Future of the Producer and IMO Space
• 09:05 The Shift to Virtual Meetings
• 10:42 The Importance of Relationships in the Industry
• 12:09 Consolidation and Changes in the Industry
• 13:31 The Impact of Direct-to-Consumer Marketing
• 15:03 Regulation and the Future of the Industry20:27 The Integration of Estate Planning and Financial Solutions
• 25:26 The Magnitude of the Opportunity for Estate Planners
• 30:35 The Importance of Celebrating Producers
• 34:09 The Impact of Regulation on the Industry
• 37:01 Future Plans and Personal Focus