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A New Lens on Loyalty:
The Cross-Sell Paradigm Shift
LIC Webinar Featuring Maddock Douglas, Remark
On March 18, 2021, 2-3:30 p.m. EDT, Maria Ferrante-Schepis of Maddock Douglas and Steve Gaertner of ReMark USA will present a webinar packed with research-based insights to help insurance companies leverage the value of their in-force business with a newer understanding of customer loyalty. Same-day registrations will be accepted for the live event, and the recording will be available from LIC afterward.
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Funeral Concierge Benefit Boosts IUL Market Share for Transamerica
In reporting 2020 second-half results, Aegon CEO Lard Friese noted, "Transamerica's market share gain in Index Universal Life has been advanced by adding a funeral concierge benefit at no direct cost for qualifying life insurance policyholders." The benefit, which provides access to third-party service provider Everest Funeral Package LLC, was first announced in July 2020.
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MRS Launches Annuity e-App
Management Research Services announced the launch of a no-code, cloud-based e-App platform for annuities. The product is designed to increase sales, streamline processes, and improve overall customer experiences, with:
- 100% in-good-order applications
- Error rate removed
- Applications processed in minutes vs days or months
- Auto-populating State Beneficiary legal clauses
- e-Signature collection for up to 8 individuals
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Assurant to Sell Global Preneed to CUNA Mutual Group for $1.3 Billion
Assurant, Inc., a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases, announced March 9, 2021, that it has entered into a definitive agreement to sell its prearranged funeral insurance and final expense business, Global Preneed, and related legal entities and assets to CUNA Mutual Group, a broad financial services provider, for approximately $1.3 billion in cash. As part of the announcement, Assurant also outlined an enhanced capital deployment plan and its outlook for 2021.
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Teachers Life Selects the Breathe Life Platform as Cornerstone of Digital and Brand Transformation Strategy
Breathe Life, the digital distribution platform provider for the life insurance industry, announced March 16, 2021, that Teachers Life has selected them as a key pillar of its digital and brand transformation strategy. A mission-driven fraternal insurer, Teachers Life is embracing digital-native technologies to improve the member experience, support new product offerings, and grow the business.
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Upcoming LIC Events
Here are LIC meetings coming up through early August. See the full list at www.loma.org/LIC/Events.aspx
A New Lens on Loyalty – The Cross-Sell Paradigm Shift
LIC Webinar | Presented by Maddock Douglas and ReMark USA
Wednesday, March 24, 2021, 2-3:30pm ET
LIC Human Resources Committee Conference Call
Wednesday, March 24, 2021, 2-3:30pm ET
Featuring "Developing Leadership from Outside the Industry," by Cynthia Tidwell, Royal Neighbors of America
LIC Operations Committee Conference Call
Wednesday, March 31, 2021, 2-3:30pm ET
Featuring "Cloud Technology & Your Business," by Troy Schake, United Systems and Software
LIC Technology Committee Conference Call
Wednesday, April 7, 2021, 2-3:30pm ET
LIC ERM Committee Meeting (Virtual)
Hosted by ELCO Mutual
Wednesday, April 14, 2021, 10am-3pm ET
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
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LIC Premier Sponsors
LIC's Premier Sponsors provide support to all LIC events throughout 2021.
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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
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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
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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
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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
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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
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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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