Impaired risk trends in life insurance – Life Insurance – Life Insurance Selling
business
Buy Now! Rates are Rising!
Good Time To Refinance Term Life Insurance – Courant.com
Here’s another article on rising term rates in the industry. If this type of reporting continues, there should be a huge spike in term insurance sales by the 4Q of this year.
Term Life Rates Rising
How to Cope With Rising Life Insurance Rates – Kiplinger.com
Not an extremely informative article but a snapshot of what the mainstream consumer financial press is reporting on the long awaited upswing in term insurance rates.
A Disturbing Picture – Scary Chart of the Day June 27, 2009
EconomPic: Global Unemployment to Rise to 1970’s Levels
Does anyone else besides me find this chart to be really disturbing?
Read a Book a Week – Advice From Tim Sanders
Sanders Says: The total confidence reading plan
Sanders is a former Yahoo exec with some interesting ideas about everything.
We Don’t Need No Stinkin’ Training!
REDUCING OR ELIMINATING TRAINING TO CUT COSTS
IN THE RECESSION
| Percentage of companies reporting they had reduced or eliminated training | |
| October 2008 | 10% |
| December 2008 | 23 |
| February 2009 | 35 |
| April 2009 | 42 |
| Percentage of companies reporting they planned to reduce or eliminate training | |
| October 2008 | 18% |
| December 2008 | 18 |
| February 2009 | 15 |
| April 2009 | 8 |
| Source: Watson Wyatt Worldwide, April 2009
Reproduced without permission from a newsletter I received called Workforce Training Management.
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AIG Update – “Unprecedented” Economic Conditions
AIG to close Milwaukee center, lay off 291 – The Business Journal of Milwaukee:
I have friends at AIG/American General which makes this news painful. From a former insider, there were 60 layoffs in Dallas, 124 in Houston. Reportedly, there were staff reductions at every location in the country.
How Bad Is It? Work For Free Coming Soon
Why British Airways Is Asking Staff to Work for Free – TIME
Working for free is a bad idea.
Lincoln National Update – June 2009
The Future for Remote/Telecommute Underwriting Workers
Clicking on the @Work link above will take you to the blog of Challenger, Gray & Christmas a huge outplacement firm. There is a lot of nasty news in this survey but my eyes are drawn to several findings that actually bode well for the future of remote/telecommute underwriting work.
- More than half (52.4 percent) of human resource executives surveyed in May said their companies had instituted salary cuts or freezes in an effort to cut costs. That was up from 27.2 percent in the same survey last January.
You may ask, how is this good news? Well, it depends upon your perspective. One of my projects consists of moving underwriting work to people rather than moving the people to where the work has traditionally been done. Work can be done anywhere if you have a computer and a decent high speed Internet connection. The only major roadblock we have is a severe case of dinosaur brains. Granted, some forms of work have to be done at a specific location. The good news is underwriting work does not.
Let’s dig deeper into the Challenger survey and find more good news. Companies are cutting costs in the following areas:
- 67% cut travel expenses
- 43% permanent layoffs
- 62% instituted a hiring freeze
- 29% cut hours
- 5% cut office space use through increased telecommuting.
The problem is this – what happens when the business environment improves and volumes increase?
Companies have painted themselves into very tight corners. Many will migrate to more of a variable cost structure to preserve the savings achieved from the measures taken during the recession.
I tell ya, I’m having a lot of fun doing what I’m doing.

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