2012 LIMRA Marketing and Research Conference Recap

by on Jun 05, 2012

altThe Paris Hotel in Las Vegas, Nevada was the site of last week’s 2012 LIMRA “Winning Connections” Marketing & Research conference. Several issues were in focus, including the utilization of mobile devices, digital media marketing and consumer perception of retirement and in the financial marketplace. Conference participants were encouraged to tweet during sessions, evidence of the rising influence of social media within the insurance industry.

Corporate Insight was not only an exhibitor at the conference, but our President, Michael Ellison, also helped lead a workshop that focused on insurance firms’ use of mobile devices. Mr. Ellison was joined by Louis DiCesare, Director of Global Market Research at Prudential, as they delivered their presentations in a session titled – The “App”etite for Mobile Devices.

Mr. Ellison’s presentation focused on the consumer view, offering his perspective on mobile trends in the insurance industry as well as a range of other areas of financial services. Best practices and key recommendations were provided, including the importance of thinking “mocial” – utilizing social media and mobile to create a strong relationship management tool for advisors. Mr. DiCesari’s presentation provided useful statistics about the adoption rates of mobile technology by advisors, helping to dispel some of the commonly held misconceptions of advisor’s willingness to adapt to new technology.

There were several sessions that focused on the framing of key words being used by firms and advisors to market their insurance and financial services products. David Clauson, VP of Marketing for Security Benefit Life and Michael Pinkans, SVP of Marketing for Zenith Marketing Group, INC, offered perspective on buzzwords when used in financial discussions. The key message – Frame with Care – suggested that advisors use words that include “monthly income, peace of mind and return of principal” in discussions with prospects, as opposed to traditional buzzwords such as “rate of return” and “return on principal”. Gary DeMoss, Managing Director with Invesco Van Kampen Consulting engaged participants in a card game called “New Words for a New Economy” that focused on user testing and responsiveness to various financial terms. Bob Baranoff, SVP with LIMRA, ended the conference with his general session titled “Connecting the Dots” that focused on establishing strong ties between carriers, producers and customers.