Interview with Jennifer A. Borislow CLU, Million Dollar Round Table

The Insurance Times Magazine, publsihed from India recently covered an Interview of Jennifer A. Borislow CLU, Million Dollar Round Table in its March 2012 issue. Here are some excerpts of the interview……

1. MDRT is a quite popular name among the insurance advisors and needs no introduction. Still we would like to know briefly about your organization.

The Million Dollar Round Table (MDRT) was established in 1927, and today it is the premier association of financial professionals. Our members uphold the highest standards of excellence and integrity. MDRT gives its members access to more than 36,000 of the best minds in the business, from 78 nations and representing 430 companies.

We help each other address issues such as growing a business, solving client problems and balancing career and family priorities. There is no better place to enjoy your success and give back to the profession than with MDRT.

2.What are the aims and objectives of the MDRT?

MDRT provides members with the resources and tools to necessary to reach their full potential and achieve success.

The objective of the organization is to help members grow their business, build client trust and provide forums where members can share ideas and best practices.

3. What are the membership criteria and types of membership for an insurance advisor?

First-time applicants for MDRT must use either the commission or premium methods to demonstrate qualification for membership.

1.     Commission/Fee Method

A minimum of 789,100 rupees of eligible commissions paid is required. Of this total, a minimum of 394,550 rupees of paid commissions (50 percent of the requirement) must come from products listed in the Unlimited Credit category.

2.     Premium Method

A minimum of 3,156,400 rupees of eligible paid premium is required. Of this total, a minimum of 1,578,200 rupees of premium (50 percent of the requirement) must come from products listed in the Unlimited Credit category.

Court of the Table and Top of the Table distinctions serve as additional incentives for members to increase their levels of production, leading to additional recognition and access to exclusive benefits.

4. What is the total strength of MDRT members worldwide and in India particularly?

Worldwide, MDRT is more than 36,000-strong. India has been a part of MDRT since 1983, and today, 17 percent of MDRT members are located in India. In 2010, India became the second most-represented country behind only the United States, with 5,034 members. In 2011, 6,126 MDRT members were from India. Two of the top 10 companies within MDRT Membership are SBI Life and Life Insurance Corporation of India. SBI Life Insurance Co. Ltd. is number one on company membership worldwide with 2,661 members in 2011.

5. Please tell us about the aim of conferences you organize every year.

Every year, MDRT organizes meetings to deliver inspiration and education to our members, as well as to expose nonmembers to the benefits of MDRT membership.

One of the most anticipated meetings is the MDRT Annual Meeting, which features sessions by more than 100 of the world’s leading motivational speakers and financial experts during its Main Platform presentations and educational focus sessions. It is truly a one-of-a-kind event allowing members to network with other top financial professionals from around the world. Each year more than 5,000 MDRT members attend the MDRT Annual Meeting.

The Top of the Table Meeting is an annual, educational, four-day meeting for the world’s most successful life insurance and financial professionals. Top of the Table members gather to exchange advanced sales ideas and to network with other leading financial producers.

The MDRT Experience brings key components of MDRT’s Annual Meeting to nonmembers in other countries. This event delivers cutting-edge sales techniques and ideas, technical information and motivational concepts to those in the life insurance and financial services business. We just held a very successful MDRT Experience in Bangkok, Thailand with more than 4,000 attendees.

6. What are your views on training and education for insurance advisors and how far it is effective for achieving sales target?

I truly believe continuing education programs are crucial in helping an advisor achieve professional and personal success. MDRT provides an opportunity for those new to the profession; or members who want to build upon their existing skills through the MDRT mentoring program. Less seasoned agents are encouraged through peer-to-peer counseling, guidance and encouragement to reach MDRT-level productivity. Often times the mentoring program serves to re-motivate seasoned financial services professionals to achieve even greater levels of success.

7. Do you release any case studies of successful insurance advisors to serve as a role model for the newcomers?

MDRT is built on the concept of sharing ideas for the benefit of all members, and our longtime members often share their success stories and sales concepts at our meetings. For example, at the recent MDRT Experience meeting in Bangkok, I participated in a panel discussion where members of the MDRT Executive Committee opened up to the audience with stories of our early days in the business,  how we achieved success and what MDRT has meant to our personal and professional development. We also profile members in each issue of Round the Table magazine, in MDRT Talk audio segments, webinars, videos and more. Member stories, perspectives and insights can also be widely found featured throughout top U.S. financial trade media.

8. Do you conduct any training programs online for the benefit of the members?

Being a member of MDRT gives you 24/7,365 access, to the best resources and financial services professionals in the world.

Such tools include:

Educational Web seminars; offers members an opportunity to learn more about a variety of professional and personal growth topics through an interactive presentation. The information obtained is effective to perform analysis, propose solutions and engage clients.

MDRT Member Blog; allows members to engage with other members in an online forum. Members can read fellow members’ comments about practice management and industry issues.

MDRT Connect; is a resource that provides live video streaming and exhibitor resources for members to strengthen relationships and boosting business.

MDRT Network; it’s a convenient listing which allows members to search for fellow members by name, city, country and/or state through the Membership Directory.

MDRT Talk; are four to five minute audio recordings to capture sales and productivity ideas straight from fellow members and experienced veterans.

Round The Table; is MDRT’s official publication, which is full of real-life experiences from some of MDRT’s most successful members. Articles address topics such as, production, sales ideas, prospecting, the marketplace and much more. Each issue of Round the Table is also available online for our members.

For more information about becoming a member please visit Join MDRT.

9.  The Indian insurance market was opened for the private players in the year 2001. Has there been a significant increase in the number of MDRT members from India Post privatization.

There has been a significant increase in the number of members from India post privatization. In 2006, 1,145 members came from India, and last year more than 6,000 of our members (6,126) represented India. India is now only second to the U.S. in terms of MDRT membership (U.S. has more than 10,200). We are proud to be holding our next the MDRT Experience Meeting in Hyderabad, India Feb. 20-23 in 2013. The financial community can expect the India Experience site to”go live” on Feb. 20, 2012. We look forward to seeing continued growth from your country.

10. Any other development in MDRT, which you’d like to share.

There is tremendous value MDRT members receive from being part of such an outstanding association. Not only does membership signify prestige, productivity and professionalism, to have a wealth of knowledge at your finger tips allows everyone the opportunity to maximize the benefits in ways one could never imagined. I have benefited both professionally and personally from the networking opportunities and friendships I’ve developed while putting the MDRT resources and tools to work for me in my business and my life.

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Jennifer A. Borislow, CLU, of Methuen, Massachusetts, is a 23-year MDRT member and currently serves as the association’s president. Her commitment to the Round Table is evident in numerous distinctions and volunteer positions.

A qualifier of one Court of the Table and 14 Top of the Table honors, in 2005, she became the first female to serve at the helm of Top of the Table. She is a frequent MDRT Annual Meeting speaker, and has served as Divisional Vice President of Finance and Communications.

Other distinctions include past Chair positions of the Media Task Force and Public Relations Committee. In addition, she is an Excalibur Knight of the MDRT Foundation.

Borislow is the founder and principal of Borislow Insurance Agency Inc. Her team of 32 employees handles employee benefits for more than 400 corporate clients. Borislow is also a recognized industry expert and well-known speaker, addressing audiences throughout the world.