The MDRT Family of Brands, which includes MDRT for high-performing financial services professionals, the MDRT Academy for aspiring MDRT members, and MDRT Global Services for leaders in financial services, has added to the portfolio of honors available for exceptional members and their companies. With these new initiatives, the MDRT Family of Brands recognizes and elevates the exceptional performance of companies and financial services professionals.
As it stands, Philippine
companies that reached MDRT’s Top 100 Global Companies in 2021 are Pru Life
Insurance Corp. of UK at 42nd, Sun Life of Canada-Philippines Inc. at 53rd, Manulife-Philippines
at 79th, and Philippine American Life & General Insurance at 89th. By
redefining success for finance professionals, new entries will be able to enter
the fold of established and recognized insurance companies alongside the 1,907
MDRT Philippine members as of 2021. With the
expanded MDRT awards and rankings, Philippine insurance companies can
legitimize their services in the eyes of the public.
According to
the Bangko Sentral ng Pilipinas, only 48% of adults had savings in 2020 but 68%
of them kept their savings at home while 32% had a savings account with a bank.
Moreover, only 18% had insurance. In MDRT’s commitment to delivering value to
the insurance profession, financial instruments can be perceived as essential
buffers to job loss, inflation, and other unforeseen vulnerabilities,
especially when proactive measures are necessary to secure Filipino families
from socio economic crisis during the pandemic.
MDRT Expanded Company Rankings
Using
a more holistic approach to measuring achievement, MDRT will add categories to
its Company Rankings beginning in 2022. These new categories will recognize
companies that achieve excellence in the areas of MDRT membership growth, retention,
and longevity—areas which demonstrate a commitment to investing in their
advisors’ personal and professional development. The eight new rankings
include:
· Top 25 Companies –
Total Membership Growth
· Top 25 Companies –
Percentage of Membership Growth
· Top 25 Companies –
Total Members who Rejoined
· Top 25 Companies –
Percentage of Members who Rejoined
· Top 25 Companies –
Total Number of 5-9 Year Members
· Top 25 Companies –
Percentage of 5-9 Year Members
· Top 25 Companies – Total Number of Qualifying
and Life Members
· Top 25 Companies –
Percentage of Qualifying and Life Members
“MDRT membership growth,
retention, and longevity are critical to companies that want to generate
success within their ranks and demonstrate a commitment to excellence,” said
Randy Scritchfield, CFP, LUTCF, MDRT President. “These new categories provide
an opportunity to celebrate the financial service professionals who achieve and
maintain career-long success with their MDRT membership and acknowledge the
important role their companies play in supporting that success.”
The 2022 Company Rankings
will be announced in early July.
MDRT Global Services Culture of Excellence
Award
With the MDRT Global Services
pilot program underway as the newest addition to the MDRT Family of Brands,
members are actively honing their leadership skills and establishing an MDRT
culture of excellence within their agencies. The Culture of Excellence Awards
provide a framework for measuring success within MDRT Global Services,
evaluating applicants according to an agency scorecard, which was developed
following extensive research into key benchmarks for agency success.
The benchmarks identify six
key aspects, including promotion, retention, recruitment, persistency, Whole
Person, and membership in MDRT’s Family of Brands—aspects which set the
requirements for award qualification. To qualify for the Gold, Platinum, and
Diamond awards, agency leaders must meet three, four, or five of the following
criteria, respectively:
· Production: 25%
increase in production year-over-year
· Retention: 75%
annual retention
· Recruitment: 20%
annual agency recruitment rate
· Persistency:
13-month persistency rate of 90%
· Whole Person:
Agency community involvement, MDRT Global Services Learning Engagement score
(measured by attendance at webcasts, Annual Meeting/Global Conference, and
completement of assigned modules in Harvard ManageMentor)
· Membership in MDRT
Family of Brands: 100% of agents must be members of MDRT or the MDRT Academy.
“These awards establish a new
standard of excellence for global financial services leaders,” said Ian Green,
Dip PFS, MDRT Immediate Past President. “Successful leadership is so much more
than just great numbers, which is why these rigorous awards also focus on
MDRT’s Whole Person concept and commitment to growth as evident by engagement
within the MDRT Family of Brands.”
MDRT Global Services Culture
of Excellence Awards applications will be accepted between January and March of
2023, with winners announced in May 2023 and honored at a special awards
ceremony at the MDRT Annual Meeting and MDRT Global Conference. Click here for more information about
the Culture of Excellence Awards.
About MDRT
MDRT, The Premier Association
of Financial Professionals®, is a global, independent association of the
world's leading life insurance and financial services professionals from more
than 500 companies in 70 markets. MDRT members demonstrate exceptional
professional knowledge, strict ethical conduct and outstanding client service.
MDRT membership is recognized internationally as the standard of excellence in
the life insurance and financial services business. For more information,
please visit https://www.mdrt.org/ and
follow them on Twitter @MDRtweet.
About MDRT Global Services
As the newest offering under
the global MDRT Family of Brands, MDRT Global Services was created exclusively
for the financial services field and home office leaders. As a separate,
individual membership association with innovative program offerings, MDRT
Global Services provides its members with exceptional value and leadership
growth opportunities. MDRT Global Services membership allows increased engagement
within the MDRT community while allowing leaders to develop a culture of
excellence within their respective organizations. To learn more visit mdrtgs.org.
About MDRT Academy
The MDRT Academy is an
association for financial professionals striving to reach MDRT-level
production. Those who join receive exclusive access to MDRT-member insights,
gold-standard content and performance-driving features tailored to their
specific needs—and it’s all available through an intuitive website and mobile
app. The MDRT Academy also offers goal setting and performance-tracking tools,
monthly webcasts featuring MDRT members, Performance Guides, as well as
hundreds of MDRT-approved articles, videos and podcast episodes. Learn more at mdrtacademy.org.
Contact Information
Giang Ngo
MDRT
+1 847-993-4955
gngo@mdrt.org
@MDRTweet
|
Sara Pardys
G&S Business
Communications
+1 312-872-3956
spardys@gscommunications.com
@gs_comms
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