Independent Brokerage ‘Well Positioned’ After Rough Patch: NAILBA CEO

ORLANDO -- The days of virtual conferences and taped keynote presentations appear to be coming to a close.

If so, the National Association of Independent Life Brokerage Agencies celebrated the return to live shows with a rousing kickoff session Monday at NAILBA 40. Attendees were welcomed by CEO Dan LaBert, who said 750 signups were received. NAILBA planned for 500 during the spring, he said.

LaBert touted the revival of the brokerage trade association, which scaled back its elaborate conferences in recent years. But the tough days are over, LaBert said.

"NAILBA finished in the black in 2020 for the first time in nearly a decade," he added.

NAILBA substituted Engage 39 during the COVID-19 shutdown. The mix of virtual taped and live sessions drew 2,200 viewers, LaBert said.

"We had to think differently," LaBert said. "We had to reinvent ourselves. We had to build and repair relationships. While the work is far from done, the voice of independent brokerage is well positioned for the future."

NAILBA's return to strength reflects an industry that is on the upswing, he added.

Pandemic surveys show increased enthusiasm for life insurance protection and lifetime income through various annuity products. Meanwhile, disruptions continue in the form of technology development and increased regulation.

State Of Independent Distribution

Jason Lea, 2021 chairman of the NAILBA board of directors, briefed attendees on the future this morning. Lea is president of Brokers' Service Marketing Group.

NAILBA Chair Jason Lea kicks off DAY II of NAILBA’s Annual Meeting with the ‘State of Independent Distribution’

Why aren’t you here? #NAILBA40
JOIN NAILBA in 2022! Learn more: https://t.co/Nb85XoM436 pic.twitter.com/HImtjhKtrk

— NAILBA (@NAILBA) November 16, 2021

Many in the BGA industry are migrating to other business models and "today, many agents prefer to be called 'advisors,'" Lea said. Many other distribution models are developing, Lea said, although he declined to call them threats to traditional models.

"We all face a much-bigger threat -- relevancy," he said. "Did you guys know life insurance is optional? It's optional, while home, auto and health, they're virtually all mandatory."

Lea teased a coming plan from NAILBA to "increase relevancy" with agents and clients. The association formed a task force more than a year ago to address these relevancy issues.

"I can't share all the details yet, but what I can tell you is that it meets the challenge in front of us," Lea said. "We have to recognize the impact of what we do. It's more than product distribution."

InsuranceNewsNet Senior Editor John Hilton has covered business and other beats in more than 20 years of daily journalism. John may be reached at john.hilton@innfeedback.com. Follow him on Twitter @INNJohnH.

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