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Insurance Barometer Study, 4/28 Webinar on Customer Engagement, and other industry news - THE LICCONNECT VERSION OF THE BULLET E-NEWS

  • 1.  Insurance Barometer Study, 4/28 Webinar on Customer Engagement, and other industry news - THE LICCONNECT VERSION OF THE BULLET E-NEWS

    Posted 04-28-2021 16:30

    Featured webinar and other news from the Life Insurers Council
    April 27, 2021

     Study Finds COVID-19 Spurs Greater Interest in Life Insurance


    Nearly one third of consumers say COVID-19 has made it more likely they will purchase life insurance within the next 12 months, according to initial findings from the 2021 Insurance Barometer Study. The study, conducted jointly by nonprofit industry trade associations LIMRA and Life Happens, finds Millennials (ages 22-40) seem to be most influenced by the pandemic when it comes to coverage, compared with Baby Boomers and Gen X consumers.

    READ THE PRESS RELEASE

    April 28 Webinar Offers Insurers of Any Size Tips for Boosting Customer Engagement

    ​​​Creating best in class digital customer engagement requires carriers to transform their IT landscape-from policy admin systems to illustrations, eApps and portals. But where do you start? And what does the ideal roadmap for transformation look like? How do Tier 3, 4 and 5 carriers find the right approach for them? On April 28 experts from McKinsey, LIMRA/LOMA, Celent and Equisoft discussed which development model is best for your organization in the webinar "Driving Digital Client Engagement Through the Entire Insurance Value Chain." The webinar is past, but additional webinars will be coming up in the Accelerate Series.

    SEE UPCOMING ACCELERATE SERIES WEBINARS

    April 28 Customer Engagement Webinar

    Trilogy Actuarial Solutions Whitepaper Offers Statistical Approach to Mortality Studies

    Trilogy Actuarial Solutions has published a whitepaper, "A Statistical Approach to Mortality Studies," on its website. Additional new resources there include Projected Valuation Interest Rates for Life Insurance and Deferred Annuities.

    VIEW WHITE PAPER

    Foresters Financial and illustrate inc Launch Foresters Mobile Quote

    Foresters Financial announced it has worked with illustrate inc to launch Foresters Mobile Quote, a secure life insurance quoting app. It is available to Foresters' over 75,000 producers across the U.S. through the Apple App Store and the Google Play Store.

    READ THE PRESS RELEASE

    Registration Opens for LIC Final Expense Workshop

    LIC's annual Final Expense Workshop, co-hosted by Optimum Re, will be held virtually on June 8 and 9, 2021. Sign up by May 11 for earlybird savings!

    MORE INFO & REGISTRATION

    MRS Onboards With ELCO Mutual

    Management Research Services announced April 26, 2021, that it has launched an Annuity e-App with ELCO Mutual Life & Annuity. The new technology will allow ELCO to complete and submit annuity applications online, effectively improving turnaround time for processing the final delivery.

    READ THE PRESS RELEASE

    FAST Acquires Assets & Capabilities of 4C Solutions to Expand into Group Life Insurance Market

    Group life insurance carriers can now accelerate their digital transformations with the expansion of flexible, easy-to-implement technology from FAST, a Verisk (Nasdaq:VRSK) business. FAST, a leading software provider in individual life insurance, is acquiring assets and capabilities of 4C Solutions, a software advisory firm in group life insurance, to help insurers meet the rapidly changing coverage needs of companies and their employees.

    READ THE PRESS RELEASE

    Allen Bailey & Associates Joins LIC

    LIC welcomes Allen Bailey & Associates as a new Affiliate Member. AB&A is an Austin, Texas based actuarial consulting firm specializing in providing products and services to meet the specific needs of life and health insurance companies, fraternal societies, and state regulatory agencies. The scope of actuarial services provided by AB&A is extensive and tailored to meet each of our client's needs.

    SEE LIST OF LIC MEMBER COMPANIES

    USAA Introduces Guaranteed Issue Whole Life Insurance from Mutual of Omaha

    USAA Life Insurance Company announced April 13, 2021, that it will begin offering its members a Guaranteed Issue Whole Life insurance solution through a strategic relationship with Mutual of Omaha Insurance Company, a leading provider of life insurance solutions. The new product will provide USAA members in nearly all states with access to a guaranteed issue whole life insurance solution designed to help cover final expenses.

    READ THE PRESS RELEASE

    Pekin Insurance Celebrates 100 Years of Business

    In 1921, a group of Tazewell County Farm Bureau members established Pekin Insurance as a means of insuring automobiles. The new company consisted of one part-time employee operating out of the basement of the Tazewell County Building in Pekin. As the company celebrates its 100th anniversary, its product line has expanded to include life insurance, health insurance and annuities. Pekin Insurance now employs about 800 full and part-time workers in 14 states, and serves clients in 21 states. And the home office has moved on from its origins in a basement to a 50,000 square-foot building on Court Street.  

    READ THE ARTICLE

    National Farm Life Celebrates 75 Years

    On March 12, 1946, National Farm Life Insurance Company was founded in Fort Worth, Texas. On March 12, 2021, the Board of Directors and stockholders met for the company's annual meeting and celebrated 75 years of success and service to policyholders. The company's history and achievements are featured in the video below. 

    PLAY VIDEO

    BankersWorksite Rebrands to Atlantic American Employee Benefits

    Atlantic American Corporation announced plans to rebrand BankersWorksite, a division of their Bankers Fidelity Life Insurance Company. It will operate under the trade name of Atlantic American Employee Benefits to closely align its voluntary business with the parent company, further enhancing its marketplace presence and positioning as a leading-edge partner of choice for brokers and employers in the voluntary benefits space.  

    READ THE PRESS RELEASE

    Foresters Financial Partners with Evergreen in Commitment to Sustainability

    Foresters Financial announced on April 22 (Earth Day) 2021 that it has partnered with Evergreen, an organization working to create cities that are livable, green and prosperous. This represents the launch of Growing A Better Future at Foresters, a new direction in its commitment to sustainability.  Foresters plans to work with Evergreen to offer programs for Foresters members, employees, and the Toronto public, including support for sustainable food and planting practices, guided nature walks, and webinars.    

    READ THE PRESS RELEASE

    Upcoming LIC Events

    Here are LIC meetings coming up through early August. See LIC Upcoming Events at www.loma.org/en/events/lic-meetings/.

    SEE LIC's 2021 EVENT SCHEDULE

    LIC Financial & Tax Accounting Committee Meeting (Virtual)
    Hosted by Larson & Company
    Wednesday, May 12, 2021, 10am-3pm ET

    LIC Laws & Legislation Committee Conference Call
    Wednesday, May 19, 2021, 2-3:30pm ET

    LIC Final Expense Profitability Workshop (Virtual)
    Co-Hosted by Optimum Re
    Tuesday & Wednesday, June 8-9, 2021, 10am-3pm ET

    LIC Supplemental Products Committee Meeting (Virtual)
    Hosted by Sydney Consulting Group
    Wednesday, June 23, 2021, 10am-3pm ET

    LIC Marketing Committee Meeting (Virtual)
    Wednesday, July 21, 2021, 10am-3pm ET

    LIC Home Service Committee Meeting (Virtual)
    Wednesday, August 11, 2021, 10am-3pm ET

    LIC CEO Forum Summer Meeting (Virtual)
    Hosted by American Savings Life Insurance Company
    Tuesday, August 31, 2021, 10am-3pm ET

    LIC Premier Sponsors

    LIC's Premier Sponsors provide support to all LIC events throughout 2021.

    SEE ALL LIC SPONSORSHIP OPPORTUNITIES 



    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
     


     

    Management Research Services
    MRS provides a high-end technology product to life, health, and annuity insurance industries. MRS has invested heavily in our technology platform to create a foundation for the next revolution in life insurance.  MRS's No-Code platform gives you all the tools needed to build a highly secure, complex application that efficiently collects voice and electronic data without writing a single line of code.  The result is a vastly reduced time to market with no initial or ongoing maintenance costs making the total cost of ownership substantially lower than status quo solutions. managementresearchservices.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
     



    thinktum inc
    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
     



    Trilogy Actuarial Solutions
    Let Us Be Your 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
     






    Equisoft
    Over 25 years' experience helping small and mid-sized life insurers & Fraternals solve their biggest challenges.
    Overcoming legacy system drag on business growth: Modern policy admin system that eliminates the legacy platform challenges slowing product innovation.
    Meeting today's heightened customer expectations:
    Creating superior digital experiences with state-of-the-art front-end tools.
    Quickly adapting to any type of market disruption: Helping insurers surpass their business objectives, even in the face of constantly changing market conditions.
    See how we can help your team at: equisoft.com.

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