California Insurance Marketing Organization Recruiting Agents for Hispanic Market

A California insurance marketing organization is recruiting hundreds of agents to sell life insurance and annuities to the growing Hispanic market.

David Ellis, chief marketing officer at Life & Annuity Masters, said his company is hoping to recruit 1,000 people by June to become independent agents. He said the Hispanic market is "ready for the picking" and "under served." That's what a new program will try to tap.

"I really can't even measure it right now," Ellis said. "This year alone I believe it could double the volume of business we do."

Ellis said his company is partnering with Julie Stav, a personal financial adviser and host of the radio show Tu Dinero con Julie Stav, to train the agents and provide support with a program called Tu Seguro con Julie Stav.

"My experience has led me to the realization that no insurance company or financial institution has fully dedicated itself to serve the life insurance and annuity needs of this growing community," Stav said in a written statement.

Agents will be trained with a course based on Stav's financial management and client consultation techniques, and then sell insurance products from a host of companies like American General Life Insurance Co., Aviva Life and Annuity, and Genworth Life, Ellis said. Agents are being sought across the country, Ellis said.

"We provide the training, the supplies, we process the applications, we help the agent get it through medical underwriting," Ellis said.

Research has shown the Hispanic community is under served in life, annuity and long-term care products," said Nancy Rivera-Ellis, president and chief executive officer of Life & Annuity Masters. "The need is very real and so are the opportunities for dedicated independent agents."

Other companies have said they see huge growth potential in the Hispanic market. Jose S. Suquet, President, CEO and chairman of Pan-American Life Insurance Co., last year said his company in 2010 saw 38% of its new premiums come from clients of Hispanic-origin (Best's News Service, April 11, 2011).

(By Michael Buck, senior associate editor, BestWeek: [email protected])