ATLANTA, Oct. 13, 2015 /PRNewswire-USNewswire/ -- The Life Insurance Direct Marketing Association (LIDMA)
debuted the LIDMA Telemarketing Compliance Guide at the LIDMA Fall Meeting & Business Showcase held at the Loews Vanderbilt Hotel in Nashville, TN. LIDMA is the insurance industry's most focused gathering of direct response producers, underwriters and vendors who are on the cutting edge of distributing life insurance directly to consumers or through branded strategic partnerships.
Life insurance direct-to-consumer sales are growing and continue to be the hot topic in our industry. With heavy regulations around the Telephone Consumer Protection Act (TCPA) and Do Not Call lists, all participating in or considering entering the space have ongoing challenges with compliance in the ever changing landscape of regulation.
LIDMA Legal Team Chairman George Limberg, Executive Vice President of Finance and Business Strategy at AccuQuote
stated, "With the increased attention to new telemarketing laws, the LIDMA TCPA guide is an extremely valuable resource providing a baseline of information for any firm to understand the current laws and assess what they may need to remain compliant and avoid the potential exposure of legal risk to their organization."
Brian Casey and John Costello
with the law firm of Locke Lord, LLC
which serves as LIDMA's outside general counsel and who co-authored LIDMA's Telemarketing Law Guide, noted that "Telemarketing is among the most effective forms of direct marketing, but is it also one of the most highly regulated forms of direct marketing by both federal and state regulators. As new telemarketing platforms and technologies evolve, so too increases the complexities of compliance risks with telemarketing laws. To manage these complexities, LIDMA has provided its members with a significant new resource to give them a working knowledge of the scope and limits of federal and state telemarketing laws."
More and more life insurance buyers are becoming self-directed and using direct response channels as their preferred method of purchasing life insurance. Recent trends in the direct-to-consumer sector have recently seen accelerated interest from big box stores, electronic retailers, search engine companies, banks, credit unions and other non-traditional companies that command vast audiences. LIDMA is the primary organization dedicated to supporting business and professionals who are active in this new and rapidly expanding channel.
According to Pat Wedeking, LIMDA Chairman of the Board, "The LIDMA TCPA guide is a fantastic resource that we're proud to offer to our members. If you're not a member, the value of having just this guide alone is not only worth many, many times the cost of a LIDMA membership, but more importantly saves you a tremendous amount of money by not having to have your legal people develop something similar to this."
"LIDMA leads the charge in cultivating new technologies, processes and sales methods that benefit LIDMA members and the life insurance industry as a whole," says Wedeking. "All of the latest technology and process advancements in our industry are on display at our Fall Meeting & Showcase."
For more information on LIDMA membership, visit www.lidma.org
LIDMA is the primary association dedicated to supporting businesses and professionals active in direct sales of life insurance products to consumers – the fastest growing sales segment in the life insurance industry. The not-for-profit organization is committed to helping members boost their revenues and reduce costs.
For more information, visit www.lidma.org
SOURCE Life Insurance Direct Marketing Association