AIMCOR Enterprise Insurance Group (AIMCOR EIG), a nationwide B2B insurance distribution initiative, is making waves in the B2B institutional space as it pertains to growing insurance revenue within broker/dealers and financial institutions. In 2016, AIMCOR EIG announced an exclusive relationship with the seventh largest independent broker/dealer in the country supporting their 4,500 licensed reps and helping them incorporate insurance into their financial planning practices. Insurance within the institution has shown double digit growth and is the fastest growing revenue source in the firm exceeding top-line projections by over 80% last year and continuing to build on this momentum already in 2017 by breaking records in January and February. The EIG initiative focuses on engaging at a B2B and field level with financial institutions and other institutional partners for the purpose of helping advisors identify and offer insurance solutions to their clients. AIMCOR EIG’s main focus of “engaging the unengaged” and making insurance an easier process, is allowing them to experience rep adoption numbers that are two times the average in the industry and almost at 20%.
Comprised of 24 regional offices, and over 90 point-of-sale wholesalers, this almost 300 strong institutional platform, has an in-person presence across the country with local point-of-sale support in all 48 of the Continental United States. Their approach to the space and their commitment to delivering a different, more streamlined process while providing a vast local support presence seems to be resonating well across the industry as they have aligned six institutional accounts under EIG and are currently working with other potential new alignments. While others focus their resources on advisors already producing insurance, AIMCOR EIG takes a different approach by offering education, in-person training and assisted sale services to those advisors not currently offering insurance while helping them incorporate these products as part of a holistic financial plan.
AIMCOR Enterprise Insurance Group Managing Director; Marc Verbos commented, “We are pleased with our continued expansion efforts and results in the institutional space but still have much work to do. The rate of advisor penetration for incorporating insurance solutions is dismal with industry averages at or around 10% depending upon which source you read. Even with EIG seeing close to 20% adoption, 8 out of 10 reps are still not offering insurance to their clients. In 2017, we’re planning to increase our penetration numbers but also focusing our efforts on working to grow the number of insurance applications per advisor. launching expanded resources that help reps manage their client’s current insurance positions, grow the protection offering to their clients and become better at retaining assets under management (AUM) as they transition to the next generation. In 2016, AIMCOR EIG placed over 600mil in death benefit / future assets under management inforce with their aligned institutional partners.”
About AIMCOR Enterprise Insurance Group (EIG)
AIMCOR EIG is a national B2B insurance distribution partner that provides centrally coordinated engagement, alignment, and reporting with a coast-to-coast footprint of point-of-sale experts and regional back-office support. AIMCOR EIG is comprised of a national account management team, more than 65 point-of-sale experts and 240+ employees and is structured to support national, regional and local institutional relationships. Service offerings include aligning at the management level with institutional partners and working with the compliance, marketing and suitability departments to ensure standardized engagement is delivered to the institution’s advisors across their footprint.
To learn more about how EIG can help your organization, please contact:
Marc R. Verbos
Executive Director; AIMCOR Enterprise Insurance Group
Vice President, Business Development; AIMCOR Group, LLC