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Intelligent Life Insurance Considerations

Intelligent commentary on the Life Insurance Industry for Insurance Professionals. Lost in the World of Life Insurance - Find a Resource and Get Found! Presented by Scott W Johnson of

Do Financial Strength Ratings Really Need to be Hidden Behind Logins?

Scott Scott , 12/22/2017
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Have you ever suggested to a Client that they choose an Insurer who has a good Financial Strength Rating?

Have you ever really thought what that entails?
Client wants to find out a financial strength rating... Client either Asks Insurance Agent or Insurance Company for their rating... Assuming the client even knows and understand the financial rating mechanisms.   But both of these processes involve getting the information from the distributor and the actual insuring company.   Does that really seem like a best practice.

Dear Honda, can you please tell me your Crash Test Rating for your latest Accord model?
NO- NO NO, you don't ask the manufacturer.  To get crash ratings you could just go to the Insurance Institute for Highway Safety.  You can pull up Honda, Accord 4D, 2018 and see that pretty much they have received G's across the board, with one Superior, one A and One G+.  No need to log in, no need to believe some pushy salesmen.

How is it that the Insurance Industry has fallen behind the Auto industry?

To do the same with leading rater AM Best, you need to login and create an account with them: "Access to Best's Credit Ratings is available to members"  
The account can be set up for free and as an insurance agent, I do have a free account, and it is no issue to me.   But for the average consumer this seems like possibly a bridge too far.

No offence to AM Best, it is not their job to provide free information, and they do in my opinion have the easiest of the big four rating agency's platforms for consumers to use.

But doesn't our Industry need a way for consumers to easily check financial strength ratings.  A way that does not depend on insurance agents providing it?  A way for outdated press releases found on google to be used?  A way for consumers to get honest, fair, and updated information?