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News and events round-up from the Life Insurers Council
November 18, 2021
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Vision Forward! LIC Annual Conference Heads to Orlando
LIC is planning to meet in person for the 2022 LIC Annual Conference and CEO Forum! The meetings will be at the JW Marriott Orlando Bonnet Creek Resort & Spa, with the CEO Forum January 31-February 1 and the Annual Conference February 1-3. Registration will begin soon, and information will be updated on the LIC2022 website as it becomes available.
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Foresters Financial Boldly Redefines Life Insurance through Innovation, Wellness, and Purpose
Foresters Financial reported 37% year-over-year growth in U.S. life insurance sales in the first three quarters of 2021, following record 23% annual growth in 2020 when Foresters strengthened its digital ecosystem to support virtual sales during the first waves of the COVID-19 pandemic. Foresters cites its focuses on turnkey-decisioned solutions, complimentary member benefits, and technology transformation to drive a better, new normal for everyday American families and independent agents.
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Lacrecia Cade, New President of Atlanta Life, Unveils 100-Day Plan
Atlanta Life Insurance announced the appointment of Lacrecia G. Cade as its first Black female President, leading the company through the next phase of transformative growth. Cade's 100-day plan includes several core strategies that incorporate social responsibility with its business commitments, including immediate targets for the end of 2021 as well as a blueprint to chart the company's course over the next several years.
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Equisoft Reports on Getting Value from Data
Equisoft announced a research report commissioned with Celent is available. Titled "Getting Value from Data: An Insurer's Perspective," the report examines how CIOs are deriving strategic value from data and what their next data-project priorities are.
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George Nichols III Recognized by Forbes as "Culture Champion"
The American College of Financial Services proudly announced its President and CEO, George Nichols III, has been named to Forbes inaugural issue of "Culture 50 Champions" recognizing Black and Brown champions making an impact on society through capital, creativity, and connections. Nichols has also been selected to Savoy Magazine's 2021 list of Most Influential Black Corporate Directors.
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Kansas City Life Announces Sale of Sunset Life
Kansas City Life announced that it has sold Sunset Life to Bona Holdings, effective on November 1, 2021. Kansas City Life is expected to record a net gain of approximately $5.5 million on the transaction.
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Panel Discusses Claims Transformation
Benekiva founders Bobbie Shrivastav and Brent Williams spoke about Tackling Claims Transformation: Empowering Carriers and Customers with Transformational Digital Technologies, along with Abim Kolawole of Northwestern Mutual, Nick Gerhart of Homesteaders, and Keith Johnson of EXL at Sureify's Life Insurance and Annuity Ecosystem Summit 2021.
Benekiva has also published a white paper, "Carrier Empowerment Through Intuitive Claims & Servicing Solutions," in which CEO Brent Williams provides an informed perspective on key "pain points," and solutions driving the accelerated need for claims and servicing transformation.
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Boston Mutual Life Launches Business Development and One Company Solutions
Boston Mutual Life Insurance Company, a national provider of insurance solutions for individuals and at the workplace, announced today the launch of its Business Development and One Company Solutions Strategic Business Center. The new sales department will provide the life insurance carrier an innovative opportunity to increase focus on distribution within the New England region and will be led by Executive Vice President, Business Development and One Company Solutions, Joshua Police.
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New End-of-Life Services Include Plans for Facebook as well as Funeral
A November 10, 2021, article in Life Annuity Specialist highlights Haven Life's new service on a living benefit rider that helps people plan what will happen to their TikTok, Twitter or other social media accounts.
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FaithLife Financial Announces Full New Suite of Life Insurance Products
FaithLife Financial, one of Canada's only member-based insurance providers, announced the launch of its latest range of life insurance products, providing flexible, customized, and affordable coverage for individuals at all stages of life, including newcomers to Canada.
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Upcoming LIC Events
Here are LIC meetings coming this fall/winter.
LIC Financial & Tax Accounting Committee Conference Call
Wednesday, December 1, 2021, 2-3:30pm EDT
LIC Supplemental Products Committee Conference Call
Wednesday, December 8, 2021, 2-3:30pm EDT
LIC CEO Forum
Reserved for insurance company Presidents/CEOs
Orlando, January 31-February 1, 2022
2022 LIC Annual Conference
Orlando, February 1-3, 2022
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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 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
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.
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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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