New ways to reach the younger generation of potential policyholders

| 25 Apr 2022

At the recent Global Annual Conference of the International Financial Architects Academy (IFA Academy), speakers touched on how insurance professionals can navigate the brave new world of life insurance.

Ms Jennifer Borislow, President at Borislow Insurance, Past President MDRT, kicked off the conference with advice on what financial advisers (FAs) can learn from her experience. She urged FAs to seek out mentors, identify their own niche markets, establish routines and habits, and keep going even when the going gets tough.

Mr Konstantinos Synodinos, CEO & Founder of, gave tips on how FAs can use the underused social media platform Tik Tok as a marketing tool. Though counter-intuitive, his advice was not to use this platform with the intention to sell, but to create valuable content to educate and deliver value to amass a following.

Mr Manmohan Abdullah, CEO, Life Specialist Financial Planners SB, stressed on the importance of keeping records for FAs as it will help them monitor the progress of the journey to their goals within a time frame. FAs need to keep records for prospecting, presentations and closings, and he recommended his formula of “Project 100” which uses 100-day periods, 100 names, and 100 presentations for record keeping.

Ms Faisa Stafford, President of Life Happens, spoke on the mission of Life Happens which is to raise awareness about the importance of life insurance. This non-profit organisation uses real life stories and life lessons, as well as initiatives such as its Life Insurance Awareness Month and Disability Insurance Awareness Month to achieve its mission.

Dr Delatorro McNeal II, motivational speaker, author of Peak Performance Expert, gave a variety of tips for FAs, including the three things great leaders do: (1) Be a realist – to see things are they really are; (2) Become an opportunist – to see things better than they are; and (3) Become an activist – to make things happen the way you like to see them.

Ms Bonnie Godsman, President of GAMA Global, said that, although the Digital Revolution has democratised information and consumers have the ability to purchase insurance online, they still prefer to buy coverage from FAs. As such, FAs should capitalise on doing what robots cannot do, including building relationships, solving problems and providing the human touch to the insurance-purchasing experience.

Mr Tim Schmidt, Founder of Drydock Consulting, international speaker, executive coach, gave the seven “secret Fs” to living a balanced life: faith, family, finances, fitness, friends, fun and future, adding an eight “F” – forgiveness for good measure. Only by blending these eight areas of life can one truly live a balanced life, he said. He also urged FAs to: “Get clear” – finding your compelling purpose in life; “Get free” – getting free from the headwinds of life, including self-dramatisation, procrastination, victimhood, self-doubt, fear of failure or success, self-medication and rationalisation; and “Get going” – practising daily self-affirmation, affirming others and living life with clear and positive aims.

To conclude the conference, Mr Panos Leledakis, Founder & CEO, IFAAcademy/TOT MDRT member, said FAs should focus on the human touch when dealing with clients, including providing empathy, building relationships, having emotional connections and maintaining good ethics. He also stressed the importance of using technology to raise the level of insurance awareness and to change the perception of Millennials and Zoomers that FAs are old-fashioned and outdated.