On the Road to $200 Million in 2021

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An update from Jason Wellmann, SVP Life Distribution, and Mike McCarty, VP New Business Life and Annuity Operations

1Q 2021 continued our unprecedented growth in life insurance premiums at Allianz Life Insurance Company of North America (Allianz). With your support and trust, we continue to set records in submitted and issued business each month. Our year-to-date results in issued premium have driven Allianz to become the #2 fixed index universal life (FIUL) insurance carrier for total distribution as of 1Q 2021 with 82% growth over 1Q 2020. Our flagship product, Allianz Life Pro+® Advantage Fixed Index Universal Life Insurance Policy, is now the #1-selling FIUL product on the market today.

We stand at a critical point. This rapid growth leads to new challenges to infrastructure, technology, and staffing.

 

We are committed to the investments necessary to accelerate our – and your – growth.

Rapid growth leads to new challenges. We are committed to the investments that are necessary to not only sustain, but continue to accelerate that growth over the next several years. These investments will require growth in infrastructure, technology, and staffing. 

With regard to staffing:

  • We continue to expand our team of talented and experienced brokerage underwriters in order to provide the level of service and expertise that meets or exceeds your expectations.
  • We are establishing a Large Case and Specialized Risk underwriting unit and hiring an experienced leader to guide this team.
  • We are adding new positions that will focus on enhancing communication and relationship management.

As we get ready to enter the third quarter, we stand at a critical point in our planning and execution for the future. Short-term changes to some of our programs and guidelines are necessary to allow us to better focus on processing your new business while we build for the future. 

These changes relate primarily to the large case market (death benefits in the range of $15 million+) and premium finance. If you are in these markets, our leadership and wholesaling teams will be reaching out to you directly to discuss how these short-term changes may affect your business over the next few months. 

Thank you for your commitment to your customers and Allianz. We know that as independent financial professionals, you have a choice about which carrier you do business with each day. We remain committed to continuing to earn your partnership and trust.