CAILBA 2015 Recap

Posted by Torey Hunt on 6/10/15 10:55 AM

Last week, the team from Bluesun had the pleasure of attending the CAILBA 2015 conference. As always, our team had an excellent time at the conference, meeting new faces and catching up with familiar ones. The thing that I love most about this conference is immersing myself in the industry. Having only worked in the industry for the past two years, conferences like CAILBA enable me to engage with our clients and prospects, which is always a great way to get insight into their businesses. Those conversations also provide an excellent opportunity to better understand how Bluesun and technology, in general plays a role in the progression of our industry and it excites me to think of the impact our contribution has.

Booth_PicDuring the three day conference, there were many speakers who presented some very engaging content. Wednesday morning, we had the pleasure of listening to Yvonne Camus give a talk about leadership and what her experience competing in Mark Burnett's Eco-Challenge taught her about what it means to lead a high performance life. One statement she made during her presentation really resonated with me. Her suggestion was to address situations by discussing the solution rather than the problem. We need to ask the question “what can we do to improve the situation, right now?” This type of approach encourages dialog between those involved to come up with a solution to the issue. This suggestion got me thinking about our industry and how too often I hear discussion circles around the issue of compliance, but it focuses on the problem and not the solution. I believe rather than discuss the issue of compliance and how we can minimize the risk we need to explore the options we have to make compliance a non-issue through technology automation.

I also joined the breakout session about Advisor Succession Planning. Succession Planning is a major project for CAILBA in 2015 because the advisors that leave the business leave their clients orphaned and without service, in turn becoming a compliance risk. If you have read some of our other content, Transition Planning is a topic we are very close to, so much so that we have a FREE Ebook dedicated on the topic DOWNLOAD NOW. Dennis Craig, Susan Allemang, Brenda Molnar and Roland Chan took some time to give their insights on some of the obstacles the industry must overcome to make succession planning proactive rather than reactive. The panel lead to some interesting discussion including Mari-Jayne Woodyatt from WCS presenting the fact that MGA’s also must consider the personal impact the death of an advisor causes for those left behind.

Simon_CAILBA-306731-editedOn Thursday morning our CEO Simon Tomlinson took part in a technology panel discussing compliance and CCIR G18 INSURER-MGA RELATIONSHIPS. Simon’s presentation took on a slightly different approach than that of the other panelists, discussing compliance versus innovation and whether or not we as an industry prefer to defend or attack. The proactive approach Simon suggests puts technology front and center, making compliance a non-issue rather than the alternative of further regulation to combat the ever present compliance concerns.

CAILBA 2015 was a great conference and so very important to the industry as a whole. What this association and these conferences do really well is open up the key areas of conversations needed such as: regulatory changes, compliance (including Advisor succession Planning and Orphan business) and a spotlight on technology. And although regulations and compliance are not topics people typically find enjoyable, what I can say is they encourage interesting forms of innovation such as APEXA that help move our industry in the right direction. We need more of this.

Lastly, I want to thank the CAILBA board for putting on such a great event. Having organized and run many events of my own I thoroughly appreciate the work that goes into an event like this one and I know our team appreciates the many long hours that go into it. I would also like to give a special mention to Natalie Ho and Erine Ruiz from Logiq3 who I saw running around the conference ensuring that everything went smoothly. I know you ladies put in a tremendous amount of work in front of and behind the scenes.

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