Market Conduct Management Low cost life insurance

Market Conduct Management Low cost life insurance

Low cost life insurance I headed to sunny California two weeks ago, not only did I get to stick my feet into the Pacific Ocean for the first time, I got to literally sit right in between insurance companies and the DOI examiners for 2 ½ days. I was there for the low cost life insurance Foundation’s Market Conduct Management designation Low cost life insurance

I discovered several things while learning more about the process of market conduct exams. One of the most important concepts was that good ‘people skills’ make the process easier for both insurance companies and examiners. While a market conduct exam can feel like companies and examiners are sitting on opposite sides of the table, they are more likely to go smoothly if both sides are willing to reach across the table in a cooperative Low cost life insurance.

Compliance is the in between, the connector between how insurance companies and producers want to say and what they can say when marketing. While literally sitting in between them I saw clearly that we are all just individual people trying to do our jobs the best we can. We have the same goal – to help the consumer.

From an insurance company’s view, getting that first letter about an upcoming market conduct exam brings trepidation. However, it may be helpful to remember that examiners are people with a job to do – nothing is personal, there are no accusations – it’s a job. Examiners must sort through a lot of detailed data, usually with a time constraint. They often travel far from home, stay in a hotel, rent a car, eat meals out, and leave their families, which, in itself, is stressful. While they should be kind and polite and abide by the insurance company’s dress code, the insurance company can help by providing a comfortable workspace and reasonable access to insurance personnel who are qualified to answer in a Low cost life insurance

Obviously the substance of market conduct exams can be difficult and time consuming, but the process of the exam may be easier for all involved if we keep these simple realities in mind.Low cost life insurance