The Channel Development team will consist of business development managers to provide a variety of sales support services to agents, from assisting agents in determining the retirement plan needs of businesses, to coordinating available resources to implement those plans.
Hartford reports that the team is targeting more than 11,000 independent property-casualty agents affiliated with the company. The initiative is a complementary distribution strategy for The Hartford, which distributes most of its retirement plans through financial advisers, third-party administrators or both.
Eric Pumiglia, assistant vice president and head of distribution development, is spearheading the P&C initiative and reports to Sharon Ritchey, executive vice president and director of RPG (see “Hartford Names New Head of Retirement Plans“). Jim Bates, sales vice president of channel development, and his team of business development managers, report to Michael Shamburger, vice president of corporate retirement plan sales.
“Retirement plans are increasingly being sold by P&C agents as part of their efforts to meet a broader range of needs for America’s businesses,” Ritchey said. “Property-casualty agents who have successfully expanded their product portfolio to include retirement products see the strategy as an opportunity to deepen relationships with their business customers and create new sources of revenue.”