Critical Illness Producer Perspectives
As insurers, we can think of many groups as our “customers.” These range from the individuals we insure to the shareholders whose investments we’re charged with protecting. Somewhere in the middle of the group of customers is the agent - the person who connects us with the consumers and often has the greatest understanding of what the consumer understands, needs and values. The agent has a first-hand understanding of which messages resonate, which features attract and which provisions detract from or interfere with a successful sale.
With the growth and expansion of the Critical Illness insurance market throughout the United States, we felt it would be beneficial to our industry to sit with a number of Critical Illness producers throughout the country and to gather their perspectives on the product so that we could learn from the experts and share those lessons with the industry.
In conducting this study, we met with 10 Critical Illness insurance producers. The products they sell range from high face amount individual coverage to modest amounts of group and worksite benefits. The producers leverage the Critical Illness product in a number of different ways, yet all seem to have the most success when positioning the product as a “gap” filler. Sometimes clear themes emerged, while other times extreme contradiction was apparent. These discussions were recorded so that we could bring the producers knowledge and insights to you directly from their own mouths.
Over the next seven months we will share with you their responses to each of the following questions:
We found these discussions insightful and valuable. As a result, we were able to expand our understanding of our industry and hope that you will find these beneficial to your understanding as well.