KIRKLAND, Wash. — As the economy struggles, LTC Financial Partners LLC (LTCFP) reports continued rapid growth. This month Inc. Magazine ranks LTCFP No. 1,970 among all companies, and No. 16 among insurance companies, in its annual ranking of the 5,000 fastest-growing companies in the nation. LTCFP made the Inc. 5000 list last year, 2008, as well. Among insurance companies, LTCFP is the fastest-growing one focusing exclusively on long term care insurance sales.
Inc. Magazine bases its award on LTCFP’s revenue growth of 162.3 percent between 2005 and 2008, compared to 11.99 percent for the insurance industry as a whole. Revenues rose from $7.8 to $20.5 million for the three-year period. LTCFP also did well among the other honorees, more than doubling the Inc. 5000 Industry Median rate, 71.6 percent.
Why is LTCFP doing so well? Jonas Roeser, Senior Vice President of Marketing and Operations, offers these explanations:
* Incentives for top agents to join the firm. “Sharp, ambitious people come to us partly because they earn stock-option share grants based on the premium they place,” he says. “They also like working with other top professionals.”
* Specialization. “Focusing on long term care only, our agents place more business than others who scatter their efforts.”
* Strong marketing support of agents. “We supply high-quality leads in real-time from the Internet as well as large quantities of traditional leads from direct-mail and space advertising,” says Roeser. “We also help agents with their personal public relations, and we supply well-designed print and electronic sales-support documents. In addition, we have ways of helping up-and-coming agents learn the best practices of top producers.”
* A growing number of alliances. “We have strategic relationships with many large associations and hundreds of national and local alliance partners. These relationships are in financial services, elder law, health care, and other fields, and we’re forming more alliances all the time. This assures a continuing stream of referrals.”
* The Long Term Care Outreach and Education Program (LTCOEP(TM)). “This is a free information service to companies and other organizations. It makes us stand out in the industry as a knowledgeable, concerned player. LTCOEP(TM) helps protect the productivity of organizations whose employees may be distracted by the care needs of loved ones.”
* Marketing innovations. “We’re pushing the envelope on a number of fronts. For example, we’re training our people to serve clients by phone and Internet as well as in person. This saves tons of time and can double an agent’s client base.”
* Aggressive public relations. “We put out two or more press releases every month, generating high visibility. And we support industry programs such as the ‘3 in 4 Need More’ campaign started by the LTC Guild (www.ltcguild.com). Also, our Board Chairman Denise Gott is reaching out through public appearances and broadcast interviews.”
For many years, Inc. Magazine’s awards have served as a benchmark for the most innovative, dynamic and successful companies in the nation. “As an honoree, we’re delighted to follow Microsoft, Oracle, and other companies that made the list early-on,” says Roeser.
Information on LTCFP and its ranking is available on the Inc. Magazine site, at:
www.inc.com/inc5000/2009/company-profile.html?id=200919700.
The LTCFP home page is at: www.ltcfp.com.
