Building for the Future of Distribution

If you think the water is heating up in the life insurance industry, you’re not wrong.??

It seems a week doesn’t seem to go by without a new acquisition. Private equity continues to focus on all aspects of the life insurance business especially distribution, which includes acquiring producer groups, BGAs, and direct-to-consumer models.

There will be a wealth of consequences – intended and unintended – to this influx of private equity and the resulting transformation in the life insurance industry.?Leadership, strategy, and relationships will matter more than ever.

First Financial Resources stands ready to power the success of our Members as we head into new frontiers. Here’s a brief look into what we’ve been working on at FFR to build a strong foundation for growth.??

Strengthening Our Staff

FFR acts as a service layer connecting Members to carrier partners and resources, and we are continuing to strengthen that service layer by building out an experienced team dedicated to Member success. In addition to the new members in the marketing and finance team, our most recent staff developments thus far include:

• Steve Guerra – Recruiter
• Nicole Reed – Commission Manager

Preparing Our Processes

We’re rebuilding processes at First Financial Resources to better suit today’s marketplace. From revising organizational documents to investing in the right building blocks, we are setting up the organization for growth and opportunity.

• Important processes we are currently working on are:
• De-risking much of the organization for our Members
• Reviewing our commissions systems to ensure they are easy, stable, and best-in-breed
• Creating process documentation to allow for redundancy within departments allowing for more flexibility for staff and less risk for companies

Refining Our Resources

We are refining our best-in-class resources so that our Members can be top producers in the industry. Our team is currently evaluating our resources and working with Members to find out what we should add, subtract, or maintain.

We take a “quality over quantity” approach with our resource stack. The ultimate goal is to strategically invest in what our Members need to succeed – and nothing they don’t.

Our key resource areas right now include:

• A dedicated Relationship Manager
• New technology tools and software
• Industry-leading national events
• Study groups consisting of like-minded producers
• An in-house medical director for underwriting needs
• FFR team dedicated to your success
• Case design manager
• ALIRT industry reports
• Consolidated carrier newsletters
• Financial dashboard

We are looking ahead at two upcoming major events – FFR University and the FFR Tax Institute – that will provide opportunities for Members to gather, learn, and connect with our carrier and resource partners, so stay tuned for more details.?