2016-2017 Initiatives

At the 2016 CAILBA National Conference, CAILBA President Michael Williams presented the key initiatives that CAILBA will focus on in 2016/2017:

1. Advisor Succession Screening
A Steering Committee has been established for this initiative since 2015. It is chaired by Michael Williams of CAILBA , with Leslie Byrnes of CLHIA, Brenda Molnar of Advocis and Susan Allemang of IFBC as committee members. The goal of the committee is to establish a process for advisor succession planning and to create an environment that encourages advanced planning. The Committee hopes to see 40% of advisors with succession plans in place in the near future.

2. Consumers’ Right to Effective Advisor Service (CREAS)
CREAS committee will be co-chaired by Michael Williams, CAILBA President and President of BridgeForce Financial Group and Ray McKenzie, SVP Brokerage of ivari. The Committee consists of both MGA’s and insurance company members to work on the “Consumers’ Right to Effective Advisor Service”.

3. In-Force Feeds
The monitoring of advisor persistency continues to be an industry issue, poor advisor persistency is a “Red Flag” that may indicate inappropriate advisor practise and as such CAILBA will continue to work with the CLHIA and their members to provide MGA’s with accurate In-Force Feeds.

4. FASAT Replacement
FASAT is the compensation software that the industry uses, unfortunately FASAT is no longer supported in Canada and CAILBA is asking for an industry solution.

If you are interested in discussing any of the above initiatives, please contact CAILBA Executive Director Clementine Peacock at clementine.peacock@logiq3.com.