Producers stew as insurers slow to process life and annuity applications
January 31, 2023 by John Hilton
Sheryl Moore is president and CEO of Moore Market Intelligence and Wink, Inc. She also has an influential social network and posted about the delay issue last week on LinkedIn. The responses flooded in from irritated producers.
Speculation on the source of the delays ranged from staffing shortages to technology deficiencies to insurers just caught off-guard by a possible sales boom.
Third-quarter MYGA sales were $27.4 billion, Wink found, up more than 138% when compared to the same period last year. MYGAs have a fixed rate that is guaranteed for more than one year.