Latin America Research

Discovering the Future of Global Distribution: Spotlight on Latin America
Contact: Ruthine Williams-Baron
As the insurance industry continues to evolve worldwide, the importance of distribution also increases. Markets that were once dominated by tied agents globally are moving, at various rates, toward alternative distribution channels. This report looks at these global distribution trends, and provides insight into the future implications for the insurance industry. The report focuses on Latin America, and includes summaries of other regions worldwide. Each section includes suggestions for regional companies to improve their market share.
(2008)

Agent Production and Survival: Latin America
Contact: Lori L. Chester
LIMRA conducted the Agent Production and Survival Study in Latin America to examine agent retention and production performance in 2006. Information on base-force, entrant survival by agent class, and cumulative survival by agent class, as well as agent productivity by the number of policies sold per agent, are presented.
(2008)

Incentive Conference Costs and Expenses: Latin America
Contact: Lori L. Chester
Conferences are an important component of rewards and recognition for producers in life insurance companies. Conferences can be costly, but they play a significant role in companies’ efforts to motivate, educate, develop, and retain producers. Fifteen companies in Latin America provided information on 23 producer conferences held in 2006. Information on the type, location, size, attendance, length, and cost of producer conferences was collected.
(2008)

Agent Recruiting in Latin America
Contact: Lori L. Chester
This report examines the recruiting practices of insurance companies in Latin America. Information is presented on recruiting results, recruitment goals, the recruitment process, recruitment methods, recruitment programs, and recruiting challenges.
(2007)

Mentoring Programs in Latin America
Contact: Lori L. Chester
This report examines the mentoring programs of insurance companies in Latin America. Information is presented on the targets of mentoring programs, mentoring program objectives, length of mentoring programs, criteria for mentors, and incentives mentors receive.
(2007)

Bancassurance in Latin America
Contact: Lori L. Chester
This report provides an overview of various bancassurance models, along with summary information on regulations that impact bancassurance, sales trends, and products sold through this channel, the different distribution methods used, and the main challenges of bancassurance. It also includes separate chapters on the bancassurance environments in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Panama, and Peru.
(2007)

Orphan Policyholder Management: Latin America and the Caribbean
Contact: Jennifer Berlin
LIMRA research suggests that companies in Latin America and the Caribbean have on average of 27 percent of their in-force policies as orphans. Consumer perceptions about quality of service influence future purchase decisions and good policyholder service is likely to result in repeat sales. Policyholders value having an agent available when needed and producer contact and follow-through. For these reasons, it is important to develop an efficient system to service these customers to retain their business. Through this research, LIMRA examines the current practices that companies across Latin America and the Caribbean use to manage orphan policyholders. Thirty-one companies from 11 countries across Latin America and the Caribbean participated in this study.
(2006)