Peter Le Beau on the Seven Families Initiative for Income Protection – MPAF10

Spearheaded by the Income Protection Taskforce, The Seven Families Initiative could be the most important campaign in the history of the protection market.

It could raise awareness and increase interest in income protection, long seen in the industry as “the Cinderella product”.

And the stories that will emerge from the initiative could start to heal the industry’s tarnished image with consumers.

My Guest on Episode 10 of the Marketing Protection and Finance Podcast is Peter Le Beau.

Peter Le Beau on the Seven Families Initiative

Peter talks us through how the Seven Families Initiative came about and its significance for the protection industry.

Hear how you can benefit from the campaign. Listen to what the campaign involves and what activities we’ll see.

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Who is Peter Le Beau?

Peter is one of the best known consultants in life and health insurance protection. He began his career at British and European and in 1981 moved to Swiss Re where he was initially Head of Underwriting and later became Head of UK Marketing.

He left in 2001 to set up an independent consultancy, Le Beau Visage, which focuses on differentiation in the Protection sector.

Since starting Le Beau Visage, Peter with Andy Couchman and Kevin Carr run The Protection Review. He has set up a strategic discussion group called The-Net-Work and Income Protection Task Force to promote a greater awareness of the value of the product.

Peter is a non-executive director of Fineos, Red Arc, Health Claims Bureau and Exeter Family Friendly.

In 2007 Cover Magazine voted Peter the most influential person in the UK protection industry over the previous 10 years and in 2009 he was voted Health Insurance Magazine’s Personality of the Year.

Peter is a regular contributor protection media publications.

He was awarded the MBE for services to Insurance in June 2009.

He’s is also a fiercely dedicated Arsenal fan.

Peter’s Links:

14 best business books recommended by Financial Services Professionals

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Now it’s your turn:

If you enjoyed this episode – Peter Le Beau on the Seven Families Initiative for Income Protection – please leave a comment or a review on iTunes. And if you know anyone who would enjoy the show – please share it with them. You can use the buttons below to share on social media.

Andy Lopata on Effective Networking and Referrals – MPAF9

Do you have a Networking Strategy?

If you’re like me you may have written marketing strategies, sales strategies or proposition strategies. But I’ve never once thought about a networking strategy.

My Guest on Episode 9 of the Marketing Protection and Finance Podcast is Andy Lopata.

Andy Lopata on Effective Networking and Referrals

Andy argues that whether it’s for individual career development, business generation or simply for getting the job done, networking is an increasingly vital tool for business.

But you need to take a strategic approach to it.

Hear how you can put together a networking strategy that will help to grow your business. And listen to how you can weave successful referrals into that networking.

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Who is Andy Lopata?

Labelled ‘Mr Network’ by The Sun, Andy Lopata was called one of Europe’s leading business networking strategists by the Financial Times. Andy is the author of three books on networking, as well as a blogger for The Huffington Post and NatWest Business Sense.

Andy speaks internationally and has worked with companies from one-man bands to organisations such as Deloitte, Merrill Lynch and Mastercard to help them realise the full potential from their networking.

He is also a Fellow and former vice-president of the Professional Speaking Association.

Please don’t miss these actionable ideas for building your network and getting referrals. I learned so much doing the interview. So will you.

Andy’s Links:

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Now it’s your turn:

If you enjoyed this episode – Andy Lopata on Effective Networking and Referrals – please leave a comment or a review on iTunes. And if you know anyone who would enjoy the show – please share it with them. You can use the buttons below to share on social media.

Ideas Inspired by Ranting – the New Way of Thinking Outside the Box.

I love a good rant don’t you?

People who don’t use their indicators, politicians who never answer questions or newspapers that misuse statistics, it’s calming to get things off your chest.

I found an interesting thread on an Internet discussion board called simply ‘The Rant Forum’. Here people pour their hearts out about the things that really annoy them.

Ideas Inspired by Ranting

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Shortly after, I attended a seminar where a motivational speaker encouraged us to look outside our own industries for inspiration on ways to innovate. He gave the example of a British airline taking inspiration from Disney.  Having trouble with its queuing systems they looked to a company specialising in herding thousands through its gates every year.

I thought it would be interesting to combine “Ranting Subjects” with this way of thinking differently about issues in our industry.

So, here are the four ‘things’ that I’ve ranted about recently. Mainly to my family.  And my suggestions on which lessons we could bring into the protection market:

People who think adding a jet engine-sized exhaust pipe on their clapped-out early 90s Vauxhall turns it into a dream car people will admire and drool over.

In the protection industry innovation often means adding little extras simply to create a perceived advantage over competitors. We’ve all added rare critical illness definitions to our products and continue to do so.

But do these add any customer value? Or do they see more complexity that puts them off?

What would make them interested? Simpler definitions? Are we in danger of the exhaust becoming bigger than the car?

People ‘forgetting’ to remove their coats and show their liquids at airport security – despite the signs they walk past telling them to do so – thus holding up everyone else.

In Financial Services, we drown ourselves in policy conditions, exclusions, and compliance blurb. The public lack understanding of the finer mechanics of protection products.

If people don’t read signs that are as tall as them why would they read pages full of “business jargon”?

Make Literature clear, short, snappy and easy to digest. Even so, some won’t understand or even read what we tell them.

How can we overcome this communication gap? Should we film video policies? What about a “policy podcast”?

Pre-recorded station announcements.

There is nothing more de-humanising than hearing a pre-recorded announcement or talking to an automatic phone answering service.

People want to deal with real people who a can meet their needs and not robots that stick to scripts. Protection needs a personal touch when we’re dealing with illness or death.

Is a soulless IVR what a grieving widow wants to hear?

Christmas getting earlier every year – I saw the first decorations in a department store this weekend – the middle of August.

Last year I went to a Christmas night on 12 November. Why? Because they left it too late to book and all the best venues had already been filled for December.

Poor planning not only interferes with your social plans, it can also cost you money as well. Plan ahead and you can get cheaper holidays. Take out life cover today,  not next year and you can save on your premium rates.

The App and Android Stores are full of planning tools. As well as birthdays and anniversaries perhaps they should include financial planning reminders.

And a final rant? Don’t get me started on people who use clichéd phrases like, “Thinking outside the box”.

Now it’s your turn:

What did you rant about last? Write it down and then think of a financial services solution. Then share it below in the comments or share it on social media. I’d be interested to hear your ideas inspired by ranting.