The National Structured Settlement Trade Association (NSSTA) and the National Association of Settlement Purchasers (NASP) share a strategic interest in the growth and vitality of the primary structured settlement market.
NSSTA and NASP have scheduled simultaneous Fall conferences in different cities which will each address (directly or indirectly) the steady, recent decline of primary market annuity premium.
NSSTA has transfigured its annual Fall Educational Conference into a members-only "Marketing Boot Camp" scheduled for November 5-6 in Dallas, Texas. The announced boot camp training agenda, "designed to help every member who attends learn how to increase the number of referrals they get from their clients and how to develop new clients", will address:
- Effective World Class Selling Behaviors for Professionals Who Sell to the Insurance Claims Industry
- The Discipline of Marketing
- Growing and Maintaining a Successful Business
- How Not to Market
- Getting New Business
- Marketing Through Social Media
- Marketing Tools
- Two Heads Are Better Than One
- How to Take an Old Book of Business and Grow It
- The Affordable Care Act
NASP's Annual Conference, scheduled for November 5-7 in Las Vegas, is open to NASP members, affiliate members and non-members. NASP's 2013 conference will feature a Primary Market Panel moderated by S2KM blog author, Patrick Hindert, with panelists:
- Daniel Hindert - Shareholder of Parsons Behle & Latimer who concentrates his legal practice on personal injury litigation for plaintiffs and defense. Daniel co-authors "Structured Settlements and Periodic Payment Judgments" (S2P2J) and has published numerous articles concerning both the primary and secondary structured settlement markets.
- Anthony Prieto, Jr. - President of Synergy Settlement Solutions who also serves on the Board of Directors of the Society of Settlement Planners. Anthony is a frequent speaker at national conferences about settlement planning issues including "re-cycled structured settlements".
- William Schemmel - Legal counsel for Western & Southern Financial Group whose subsidiaries include Integrity Life Insurance Company which previously participated as a product provider in the structured settlement primary market. William's current responsibilities include supervising Integrity's secondary market structured settlement transfers.
Questions NASP's Primary Market Panel will address:
- What are the most important current primary market issues?
- What are the most important current primary market developments?
- How large is the potential U.S. primary structured settlement market?
- Why is the primary market continuing to decline?
- What can be done to reverse this downward trend?
- What segments, if any, of the primary market are growing and what segments are declining?
- What primary market business practices, if any, create problems for the industry?
- What are "re-cycled" structured settlements?
- What impact have they had on the primary market?
- What issues do they present for the primary market?
- How active are primary market brokers in the secondary market?
- What roles do they play?
- Why haven't more structured settlement annuity providers offered commutations as alternatives to transfers?
- What problems do structured settlement transfers and transfer companies create for primary market providers?
- What current impact does the secondary market have on primary market sales and the attitude of primary market stakeholders toward structured settlements?
- What steps do you recommend to improve communication and relations more generally between primary and secondary market participants?
Handout materials for the NASP Primary Market Panel will include a new section from S2P2J Release 54 titled "Re-Cycled Structured Settlements".
Related Developments and Resources
A recent S2KM blog post, "Growing the Structured Settlement Market", highlighted a survey of structured settlement primary market leaders by Daniel Durbin addressing opportunities to jump start primary market growth.
For previous S2KM blog posts about the following related topics, see the structured settlement wiki :
- Growing the Structured Settlement Market
- Structured Settlement Metrics
- Primary and Secondary Market Surveys
- Annual Industry Reports
- NSSTA and NASP Conference Reports