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Francois Duguay Named LIC Chair for 2022 LIC announced February 2, 2022, at its Annual Conference in Orlando, that Francois Duguay, EVP and chief actuary of Optimum Life Reinsurance, will serve as the new Board of Directors Chair for 2022.
Duguay succeeds Byron Allen, president/CEO of American Savings Life Insurance Company, who will continue on the LIC Board as Immediate Past Chair.
Steve Shaffer, CEO of Homesteaders Life Company, is this year's LIC Vice Chair and Tony Mravle, CEO of KSKJ Life, American Slovenian Catholic Union, is LIC Secretary.
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Horace Mann Completes Acquisition of Madison National Life Insurance Company Horace Mann Educators Corporation announced January 3, 2022, that it has closed the acquisition of Madison National Life Insurance Company, Inc., a provider of group life, disability and specialty health insurance for educators and public sector employees.
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Cynthia Tidwell Retires from Royal Neighbors Cynthia Tidwell, President and CEO at Royal Neighbors of America, announced her retirement January 7, 2022. She led the organization through a critical period of turn around, revitalization, and growth.
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Investors Heritage Brings Innovative FIA With ESG Index to California, Delaware Investors Heritage Life Insurance Company announced that it will now be offering its first fixed indexed annuity in California and Delaware. Investors Heritage launched the Heritage Income Advantage ("HIA") in April 2021 to help policyholders protect assets from market downturns, grow retirement savings, and secure a lifetime income stream.
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Catholic Financial Life Moves Forward in its Generational Leadership Transition
John Borgen has been promoted from his current role as President to President and CEO of Catholic Financial Life. His promotion is the next step in a generational leadership transition that began January 1, 2021, when the Board of Directors named Borgen President while Bill O'Toole remained CEO as part of a one-year transition.
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InsurTech NY Spring Conference To Focus on 'Customer First vs. Digital First' InsurTech NY is hosting its third annual spring conference March 7, 2022, to bring together legacy insurance carriers and InsurTech leaders to New York City. The conference will feature more than 40 speakers, over 400 insurance influencers, and more than 20 expo booths.
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Boston Mutual Life Expands Small Business Solutions Program to Connecticut and Maine Boston Mutual Life Insurance Company announced that its Small Business Solutions program is now available to customers in Connecticut and Maine. The first-of-its-kind program for the national life insurance carrier initially launched in June 2021, coordinating with select local producer partners in Massachusetts and Rhode Island to offer this insurance solution to small businesses emerging from the initial stages of the pandemic.
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CNO Financial Rejects Direct-To-Consumer Plan Life Annuity Specialist's Cyril Tuohy recently reported on CNO Financial's decision not to proceed with its plan for Colonial Penn to sell direct to consumers. The article, "Why This Insurer Ditched Its Vision of Pure Direct-to-Consumer Sales," was published February 18, 2022.
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Foresters Go App Adds New 'Purpose and Community' Feature Foresters Financial announced the Foresters Go app has new functionality for rewarding members who give back to their communities. The "Purpose and Community" feature enables members to earn rewards points for engaging in volunteerism, mentoring, sustainable environmental initiatives, and for organizing activities for communities in need with the help of a Foresters Care grant.
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Western & Southern Completes Acquisition of Fabric to Accelerate Digital Expansion Western & Southern Financial Group has completed the acquisition of Fabric Technologies Inc. and its subsidiary, Fabric Insurance Agency LLC, which provide a fully digital life insurance platform and mobile app that is serving over 60,000 families and has placed billions of dollars in life insurance coverage. W&S and Fabric share a vision of offering the mass market easy-to-use digital solutions to purchase insurance and other financial services.
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Accidental Death Benefit Upheld in Heroin Overdose Ruling
A recent ruling against Symetra Life in an accidental death lawsuit involving a heroin overdose was reported on in a January 14, 2022 article in Life Annuity Specialist.
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Citizens National Launches Critical Illness Product Citizens National Life Insurance Company announced the launch of its new Critical Illness Coverage product, its third product launched in the past 12 months.
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Investors Heritage Tops List of Fastest-Growing Workplace Insurers A January 24, 2022, article in Life Annuity Specialist mentioned several smaller companies in its list of the fastest growing group insurers for third quarter 2021. At the top of the list is Investors Heritage, with sales of $23.4 million through the third quarter last year and $384,000 at Q3 2020.
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Assurity Launches criticalillness.com to Provide Fast Insurance Coverage for Serious Diseases Assurity Life Insurance Company has launched criticalillness.com, a complete self-service platform for buying critical illness insurance. The website simplifies the process of getting coverage for serious diseases by offering a streamlined product with a short application.
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New Insurance Offering, nowly, Aims to Disrupt the Industry with a Digital-First Approach and Purpose-Driven Initiative On February 14, 2022, Teachers Life launched nowly, offering Canadians instant life insurance they can benefit from now, providing world-leading health and wellness benefits through a premium digital-delivery platform, along with a steadfast commitment to its community. Backed by Teachers Life, with over 80 years of industry experience and reliability, nowly aims to disrupt the life insurance space with a digital-first offering and a robust give back program, supporting social-preneurs in Canada who are committed to making positive social change. (Also note: ManageMy is supporting nowly with its Customer Engagement Platform.)
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LIC Membership Directory Now Available LIC's 2022 Membership Directory is now available! Printed copies were provided to LIC Members at the Annual Conference in Orlando earlier this month, and all members will have access to it in the online communities at www.loma.org/LICConnect. Members can also request a copy by contacting LIC.
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Upcoming LIC Events
LIC's calendar of events for 2022 is being finalized - see what's planned here. Here is what's coming up in the next few months.
LIC Project Management Committee Conference Call February 24, 2022, 2-3:30 pm ET
LIC HR Committee Conference Call March 10, 2022, 2-3:30 pm ET
LIC Operations Committee Conference Call March 24, 2022, 2-3:30 pm ET
LIC Technology Committee Conference Call April 7, 2022, 2-3:30 pm ET
LIC Annuity Committee Conference Call April 21, 2022, 2-3:30 pm ET
LIC Laws & Legislation Committee Conference Call May 12, 2022, 2-3:30 pm ET
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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 SolutionsLet 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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