Mutual of Omaha Case Study – Sales Effectiveness Impact on Productivity and Retention

Mutual of Omaha implemented Trustworthy Selling as part of an organizational strategy to increase their advisor’s focus on needs-based selling over transactional selling or product-focused selling. The company went through the first step in its transformation strategy by revamping its systems to identify, attract and select candidates who were more relationship-focused. Trustworthy Selling was an extension of the company’s strategy to ensure new recruits were onboarded and trained with the knowledge and skills to establish enduring relationships with their clients.

Launch Week Incorporating Trustworthy Selling Quick Start

Mutual of Omaha incorporated Trustworthy Selling Quick Start into their Launch Week, which is a one-week training program for all new advisors conducted in their local field offices. Members of their local-level leadership teams delivered the program through a faculty approach and reinforced the concepts through ongoing coaching and development. Because of the learning design of the Trustworthy Selling curriculum, the organization was able to create both scale and consistency in each of their field offices throughout the United States.

Transitioning to Virtual Classroom During the Pandemic

“HPN and LIMRA have committed to keeping the content current and we had just transitioned from TS 1.0 to TS 2.0 prior to the pandemic. The 2.0 version had more resources for delivering the program in a virtual environment, therefore it made for an easier transition for us when we had to flip the switch and go virtual.”

– Richard Healey, Senior Vice President – Advisor Network

ROI Analysis

Mutual of Omaha worked with LIMRA and HPN to conduct a Business Impact Results Tracking (B.I.R.T.) ROI Analysis to measure the productivity and retention impact of Trustworthy Selling on their advisors. Because the sample group represented an entire annual recruiting class of new advisors with no prior experience, the study considered year over year results of the previous year’s annual recruiting class as the control group (those who did not participate in the Trustworthy Selling program).

Bottom line, advisors who completed Trustworthy Selling at the 24-month period experienced the following results at the conclusion of 24 months:

  1. 93% increase in Premium Productivity
  2. 64% increase in Policy Productivity 
  3. 92% increase in First Year Commissions
  4. 8% increase in Two-Year Retention
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