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Life Insurer Wages Jump, and other industry news from LIC [LICCONNECT Version of the LIC Bullet E-News]

  • 1.  Life Insurer Wages Jump, and other industry news from LIC [LICCONNECT Version of the LIC Bullet E-News]

    Posted 05-10-2022 11:25
    News and events round-up from the Life Insurers Council
    May 9, 2022

    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.

    READ THE ARTICLE (SUBSCRIPTION REQUIRED)

     

    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.

    READ THE PRESS RELEASE



    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. 

    READ THE PRESS RELEASE



    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.

    READ THE ARTICLE (SUBSCRIPTION REQUIRED)


     

    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. 

    READ THE PRESS RELEASE



    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.

    READ THE PRESS RELEASE



    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.

    READ THE PRESS RELEASE



    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.

    READ THE PRESS RELEASE


     

    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.

    READ THE PRESS RELEASE



    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.

    LISTEN TO THE EPISODE


    ​​​​​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.

    LISTEN TO THE EPISODE


     

    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.

    READ THE PRESS RELEASE


     

    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.

    READ THE PRESS RELEASE



    $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.

    READ THE PRESS RELEASE



    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

    LIC EVENTS PAGE


    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

    thinktum
    thinktum is a technology company with a strong commitment to innovation, leadership and a responsibility to give back to the communities in which we serve. thinktum's dimmpl platform offers modular InsurTech systems that support true end to end functionality via multiple distribution models. Whether it be face-to-face or non-face-to-face, affiliate or direct-to-consumer, dimmpl supports you from early prospecting straight through to policy delivery. www.thinktum.com

    Equisoft
    Equisoft is a business-first technology company dedicated to helping insurance and wealth management organizations reach their goals. Specialized expertise: Over 25 years of experience helping small and mid-sized life insurers & fraternals solve their biggest challenges through digital transformation. www.equisoft.com


    SEE ALL LIC SPONSORSHIP OPPORTUNITIES


    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.
     

    SET YOUR LICCONNECT NOTIFICATION PREFERENCES



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    Audrey Wittenburg ALMI, ACS
    Associate Director
    LIC
    Silver Spring MD
    (703) 975-5626
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