NAILBA Perspectives - July 2016 - 7

chairman's corner Technology Reform Starts with YOU GEORGE C. VAN DUSEN IV NAILBA CHAIRMAN OF THE BOARD S martphones. Tablets. The Cloud. Social Media. Mobile Connectivity. Yep, I know exactly what all this means and use them all the time... not. But at the end of the day, where would we be without technology? And those mentioned are just for the "average Joe." When you add in the tech tools specific to the insurance industry you're also looking at things like Electronic App Submission, E-Policy Delivery, Check 21, Secure Upload for forms and documents, Apps/platforms for delivering real-time term quotes to clients, and I'm sure much more that I'm not even aware of. Long gone are the days of battling with correction tape, typewriter ribbons, carbon paper, and page after page of paper applications to be filled out, sent, and filed. Now, we're able to work more quickly, easily, and most of all efficiently... that is, if we can keep up with all the technological advances that exist out there. Thankfully, NAILBA continues to be a leader as the voice of independent brokerage distribution and can help in a number of technology related areas. With the rejuvenation of the Life Brokerage Technology Committee (LBTC), an independent working group of BGA, carrier, and vendor representatives, along with increased NAILBA member involvement and engagement, our chances for having a solid impact on the insurance industry is great. We've got the opportunity to shape the plans for putting the tech tools in place that can make the processes easier across the board. It's a big focus for NAILBA, as it should be. One of the biggest challenges that independent distribution faces is the aging of our producers; in order to attract new, younger producers we need to stay current and adopt new technology. We need to embrace all of the electronic processes offered to us by our carrier and vendor partners. When you look at the independent distribution marketplace, it has evolved tremendously throughout NAILBA's history. In the past, we were mostly doing business with career life insurance agents, whereas now we're working with many different types of producers from property and casualty agents, bankers, and stockbrokers, to financial advisors and RIAs, including professional high-end insurance agents. Most of these customers are not traditional life insurance folks and are not familiar with the process at all. They find it complex, long, and old fashioned, and they all want-and need-the process to be easier. We tend to overcomplicate every aspect of the life insurance experience from pre-sale to policy delivery, so the more we can simplify it, the better for everyone. In addition to our aging distribution and working with nontraditional life insurance agents we are also facing margin compression, which reinforces the need to be able to process business more efficiently. We're all in the same boat of having to find our way to profitability, so we need to have the tools in place to ensure that this will happen. All of these factors are driving our need to continue to adopt and grow new forms of technology to help support our agencies. Yes, there has been progress made in certain areas of the process, but it's often not very cohesive; insurance carriers end up doing one thing while vendors do something different and the end result isn't an adaptable technology enhancement that works well for multiple distribution channels or in a multi-carrier solution. The coordination is troublesome, and that's where NAILBA and particularly the LBTC can play a big role in the coordination of efforts because of our influence on vendors and insurance companies along with the distributors and advisors. The LBTC is helping us define the industry's direction with respect to technology and it starts with YOU. A sub-committee of the LBTC has been formed to accept questions and suggestions from our members that are reviewed and formed into proposals. These allow the group to then make recommendations for future technology projects. This will be an ongoing process and will help focus the LBTC's efforts on the most important needs. Already identified as new project initiatives are eApp, Mobile, Data Exchange, eDelivery, and Education & Training. As part of our Strategic Plan, the Board has committed to making NAILBA the resource for industry technology updates and information, and part of that commitment includes this work with the LBTC. Don't forget that NAILBA actively supports technology in other areas, whether it's through education and training from NAILBA University or a forum for you to pose questions and post responses in NAILBA Network. We even have an effort to help you with your Social Media presence. You can check out NAILBA's Facebook page, YouTube channel, Twitter account, and LinkedIn group that are all designed to help members stay engaged, informed, and entertained with up-to-the-minute information about what's going on in YOUR association. Let's face it. Technology is such a cornerstone to our business, and if we don't take the lead, we're going to become less relevant as a service provider. When we have an industry association like NAILBA that can help forge a path whether it's all the way to creating a standard with ACORD or just setting the tone for what our industry or distribution channel requires, I would encourage you to take advantage of it through your membership with NAILBA. Reach out to the LBTC with your questions, ideas and concerns, and answer the short surveys often included in NAILBA Now; the input they receive from you helps target efforts and resources toward the most important issues so the industry as a whole can benefit. I'm very excited about the direction we're going. There are a lot of great vendors out there for our members to partner with, and we're going to see them all at the Annual Meeting coming up in November. The LBTC is poised to make a difference and create real change with our support. The reality is that we must change or become irrelevant; those who oppose change are going to be challenged, but those who look at change as necessary each and every day, each and every year, are the ones who will find success. Whether it's our association, marketing organizations, or our agencies, we need to accept and embrace change to encourage cohesive, industrywide technological advances. Now... I'm off to tweet. 7

Table of Contents for the Digital Edition of NAILBA Perspectives - July 2016

NAILBA Perspectives - July 2016
Chairman’s Corner
CEO Insights
Mooers Award Nominations
Cyber Liability/Cyber Security
NAILBA 35 Program Preview
NAILBA Charitable Foundation
Life Happens
Member Profile
Agency Successor Networking Group
Calendar of Events
Brokerage in Motion
Index of Advertisers

NAILBA Perspectives - July 2016