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Life Insurer Wages Jump Most Since 2007 Amid Inflation, Job Crunch
"Wages at U.S. life insurers jumped the most last year since 2007, as they compete for workers in a tight job market and inflation settles in," according to an April 13, 2022 Life Annuity Specialist article by Aaron Smith.
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Teachers Life Taps New CEO Kayte Fredrickson
Teachers Life announced April 6, 2022, that Kayte Fredrickson, an insurance industry veteran, is taking the helm as chief executive officer. As CEO, Fredrickson is responsible for growing both Teachers Life, an 80-year-old member-driven insurer, and its division nowly, a new digital-first and purpose-driven life insurance offering.
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CUNA Mutual Group To Unify Under Brand Name TruStage
CUNA Mutual Group announced plans to unify all of its enterprise, business-to-business and consumer brands under a single brand, TruStage, in 2023.
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Fastest-Growing Life Insurers Named
A May 2, 2022, article in Life Annuity Specialist identified companies with last year's fastest growth in individual life insurance sales, including a number of LIC members such as Guarantee Trust, Investors Preferred, Prosperity Life, and Baltimore Life.
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Liberty Bankers Welcomes New Executive Leader
Liberty Bankers Insurance Group, a nationally recognized provider of life, health, and financial products, announced the addition of Brian Clark as its new executive vice president, chief marketing officer.
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Mutual of America Financial Group To Acquire Landmark Life
Mutual of America Financial Group announced that it has entered into a Stock Purchase Agreement to acquire Landmark Life Insurance Company, a widely licensed Texas life and annuity insurance company. The transaction is expected to close during the third quarter of 2022, subject to customary closing conditions, including regulatory approval.
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BetterLife Selects iPipeline to Digitally Transform Its Business & Better Serve Future Generations
iPipeline announced that BetterLife, a life insurance company which has been serving individuals, families, and communities for more than a century, will harness the iPipeline technology ecosystem to digitize its business operations to meet its aggressive growth goals.
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Lincoln Financial Group Recognized for Outstanding Workplace Wellness
Lincoln Financial Group announced that the company has won two Ragan Workplace Wellness Awards in the Outstanding Wellness Program: Large Organization (more than 1,000 employees) and Mental Health/Well-being categories. Winners on this list represent the most effective corporate well-being programs, worldwide. These organizations prioritize their employees' mental, physical, social and professional well-being through wellness programs that translate into more productive, engaged and healthy workforces.
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Kansas City Life Elects Web Bixby as President and Chief Executive Officer
Kansas City Life Insurance Company announced April 25, 2022, that its Board of Directors has elected Walter E. "Web" Bixby, LLIF, as the company's President and Chief Executive Officer. He is currently also Vice Chairman of the Board of Kansas City Life, President of Old American Insurance Company, President and Chief Executive Officer of Grange Life Insurance Company.
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Digital Transformation Podcasts Feature MassMutual and Ameritas
Equisoft announced two new episodes in its "Life Accelerated" podcast series for life insurance executives. The first highlights the big bets MassMutual has made to disrupt life insurance distribution, featuring Sherriff Balogun Jr., Head of Platform Transformation at MassMutual.
The second is "How customers fuel technology transformation at Ameritas," in which host Anthony O'Donnell speaks with CTTO of Ameritas, Richard Wiedenbeck, on the topics of customer experience in the life insurance agency, operational efficiency, and hiring a "digitally enabled" workforce.
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Boston Mutual Promotes Joshua Police
Boston Mutual Life Insurance Company, a national provider of insurance solutions for individuals and at the workplace, announced today the April 19, 2022, promotion of Joshua Police to Executive Vice President of Distribution and Business Development. In this new role, Police will oversee the company's sales divisions, including Workplace Solutions and One Company Solutions, as well as the Business Development and Sales Operations areas.
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ELCO Mutual Welcomes Covington and Tidwell to Board of Directors
ELCO Mutual is proud to announce the addition of Cynthia Tidwell and Carolyn Covington, FSA, MAAA, CERA to its Board of Directors.
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$100k in Guaranteed Life Insurance Now Available Through WAEPA
WAEPA (Worldwide Assurance for Employees of Public Agencies) is now offering civilian federal employees under age 50 $100k in Guaranteed Life Insurance coverage for a limited time.
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UPCOMING LIC EVENTS
LIC's calendar of events for 2022 is posted here. Coming up:
LIC ERM Committee Meeting (Hybrid) Hosted by American Farmers & Ranchers Life, Oklahoma City, OK May 10-11, 2022
LIC Laws & Legislation Committee Conference Call May 12, 2022, 2-3:30 pm ET
LIC Financial & Tax Accounting Committee Virtual Meeting May 19, 2022, 2-4 pm ET
LIC Final Expense Workshop (In Person) Hosted by Optimum Life Reinsurance, Dallas, TX June 8-9, 2022
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LIC 2022 PREMIER SPONSORS
LIC's Premier Sponsors provide support to all LIC events throughout 2022.
Parkway Advisors Parkway Advisors is focused on being the best most respected provider of service in the insurance industry. Parkway offers asset management, consulting, and statutory investment reporting services that are customizes to the needs of each insurance client. Through Parkway's emphasis on personal service, custom solutions, and strong communication, our clients have enjoyed historically strong performance success, especially during the financial crisis and the low interest environment that has followed. www.parkwayadvisors.com
iPipeline iPipeline is a leading provider of low code, cloud-based software solutions for the life insurance and financial services industry. Through our SSG Digital, end-to-end platform, we provide process automation and seamless integration between every participant in our ecosystem including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers on a global basis. Our innovative solutions include pre-sales support, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, user-driven configuration, consumer delivery and self-service, and agency and firm management. www.ipipeline.com
Trilogy Actuarial Solutions Let Us Be Your In-House Actuaries. We are a trio of actuaries with a combined 45 years of experience providing exceptional service to insurance companies, fraternal benefit societies, and marketing organizations. We can support your existing actuarial staff or serve as your entire in-house actuarial department. We understand the value of a dedicated in-house team and we will endeavor to replicate this experience for you. Our goal is to seamlessly integrate into your organization and culture. www.trilogyactuarial.com
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ABOUT THE LIC BULLET
The Bullet is the official e-newsletter of the Life Insurers Council, which has been providing networking and practical business solutions for life insurers since 1910. As a council of LOMA, LIC serves the unique needs of small-to-midsize member companies, offering a personal network of peers with practical solutions to shared challenges. The Bullet delivers immediate and relevant industry news and editorial.
LIC E-News Online Community: As a networking organization, we welcome dialogue and input from our readers – therefore we are transitioning the Bullet to its new home in the LIC E-News online community at LICConnect. All Bullet subscribers have access to this forum, and others can request access by contacting lic@loma.org.
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