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.
|
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.
|
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.
|
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!
|
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.
|
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.
|
Allen Bailey & Associates Joins LIC
|
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.
|
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.
|
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.
|
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.
|
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.
|
Upcoming LIC Events
Here are LIC meetings coming up through early August. See LIC Upcoming Events at www.loma.org/en/events/lic-meetings/.
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.
|
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.
OPEN LIC E-NEWS IN LICCONNECT | SET YOUR LICCONNECT NOTIFICATION PREFERENCES
|
|
|
|
|