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News and events round-up from the Life Insurers Council
February 17, 2023
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LIC Welcomes Dean Lambert as Executive Director
Jeff Shaw To Retire after 15 Years of Leadership
At the 2023 LIC Annual Conference in Jupiter, FL, Dean Lambert was presented to the membership as the incoming LIC Executive Director, starting February 20, 2023.
Lambert will be taking over for Jeff Shaw, who will be retiring later this year after 15 years as LIC's Executive Director. In that time Shaw has been instrumental in building the organization into a highly valued network for senior executives of small-to-midsize life insurers with a clear mission of "improving performance through shared excellence."
Lambert will take on his new role after 25 years with Homesteaders Life Company, where his strategic and marketing expertise helped propel Homesteaders to a position of sustained market leadership. Lambert has experienced LIC's value from a member's perspective over the past 15 years.
"Dean has a gift for building relationships and brainstorming creative solutions to achieve success," said Shaw. "I've seen it firsthand, and I am really excited to see LIC continue to flourish under his leadership."
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Webinar: Launch New Products Quickly While Accelerating Your Digital Transformation
Equisoft presents an expert panel webinar February 22, 2023, 11 am ET offering strategies to deal with data risk and complexity inherent in replacing legacy systems. You'll learn how taking a Greenfield approach as a first step in a PAS modernization can reduce risk, accelerate innovation, and help you stay ahead of the digital transformation curve.
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Teachers Life Announces a Significant Milestone in Strategic Growth Plan
Teachers Life, an established community- and purpose-driven insurer, announced a significant partnership with Greenstone, a growing multi-national provider of direct life and pet insurance brands that has recently entered the Canadian market.
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Bill Bruce Announced as ELCO Mutual's VP of Operations
ELCO Mutual Life & Annuity has announced Bill Bruce as its new Vice President of Operations. He will focus on enhancing operations and accessibility of services for policyholders and agents.
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Guarantee Trust Life & AmeriLife Unveil Turbo Term Life
Continuing their approach to innovative product design and delivery, Guarantee Trust Life Insurance Company and AmeriLife Group, LLC have launched Turbo Term Instant Issue Life Insurance, a revolutionary new level term life product engineered to deliver clients fully customized benefits and policy lengths to match their unique needs.
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New Boston Mutual Whole Life Program Relies on Face-to-Face Meetings
In a February 6, 2023, article, Thinkadvisor's Allison Bell reported on Boston Mutual Life Insurance Company's plan to sell whole life insurance in underserved communities by meeting with people face-to-face, based on what they learned in eight focus group sessions.
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Globe Life Rides Out COVID-19 Mortality, Fluctuating Agent Counts
In a February 6, 2023, article in Insurance Newsnet, John Hilton reports on Globe Life's 4th Quarter earnings reports, with executives citing factors including agent counts and COVID-19 mortality.
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Webinar To Address Challenges of Modernizing with Legacy Systems
"STOP! Don't Rip and Replace" is the theme of Sureify's March 21, 2023 webinar (1pm EST), exploring new digital technology options that address the constraints of legacy back-end systems while allowing modernization to happen quickly and in a scalable way.
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InsurTech NY Plans March 29-30 Conference
The Annual InsurTech Spring Conference will be held March 29-30, 2023 in New York City, including more than 150 speakers, TED talks and panels in both Life and P&C topics, plus more than 30 exhibit booths with insurtech startups and solution providers.
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National Guardian Life Preneed Single Pay Apps No Longer Require Health Question
National Guardian Life Insurance Company has announced select Single Pay Preneed applications will be processed as Standard Issue regardless of how the health questions are answered, effective February 15, 2023.
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$400M Kuvare Vehicle Caps Banner Year for New Bermuda Reinsurer Registrations
"New insurer and reinsurer registrations logged by the Bermuda Monetary Authority hit their highest level in nine years in 2022, fueled in part by the ongoing transformation of traditional life and annuity company business models in the United States and beyond," according to an S&P Global research article by Tim Zawacki..
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Davies Acquires MVP Advisory Group
On January 30, 2023, Davies, the leading specialist professional services and technology business, serving insurance and highly regulated markets, announced the acquisition of MVP Advisory Group, LLC, the consulting business specializing in advisory and transformation projects for the property and casualty and life and health insurance markets.
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Boston Mutual Partners with Majesco to Enhance Customer Experience
Majesco, a global leader of cloud insurance platform software for insurance business transformation, announced January 26 that Boston Mutual Life, a national provider of insurance solutions for individuals and at the workplace, has selected Majesco to modernize its core business platform and advance customer experience and engagement.
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American Republic Insurance Services Goes Live on Magnifact's AgentVizion Platform
American Republic Insurance Services, an affiliate of American Enterprise Group specializing in retirement insurance needs, announced the official launch of Magnifact's AgentVizion™ platform.
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Foresters Financial Canadian Division President Announces Retirement
Foresters Financial announced that Henry Auyeung, President of Foresters Financial Canada, plans to retire in August 2023.
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Upcoming LIC Events
LIC Project Management Committee Conference Call
February 23, 2023, 2-3:30 p.m. Eastern
LIC Human Resources Committee Meeting
Hosted by BetterLife, Madison, WI
March 8-9, 2023
LIC Operations Committee Conference Call
March 15, 2023, 2-3:30 p.m. Eastern
LIC Annuity Committee Meeting
Hosted by GBU Life, Pittsburgh
March 28-29, 2023
LIC Technology Committee Conference Call
April 20, 2023, 2-3:30 p.m. Eastern
LIC ERM Committee Meeting
Hosted by Catholic United Financial, St. Paul, MN
May 3-4, 2023
LIC Laws & Legislation Committee Conference Call
May 5, 2023, 2-3:30 p.m. Eastern
LIC Financial & Tax Accounting Committee Virtual Meeting
May 25, 2023, 2-4 p.m. Eastern
LIC Final Expense Workshop
Hosted by Optimum Life Reinsurance, Dallas
June 7-8, 2023
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LIC 2023 Premier Sponsors
Many thanks to the following companies! As LIC Premier Sponsors, they support all LIC events throughout 2023.
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 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
thinktum
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
QLAdmin Solutions
QLAdmin Solutions is a leading technology partner for the small to mid-sized insurance company offering traditional life, health, annuity, preneed, final expense, and Medicare Supplement products. QLAdmin serves the entire policy lifecycle from new issue to termination with expert policy administration processing that is both comprehensive and easy to use. QLAdmin continues to evolve based on product and client needs ensuring extreme client longevity and satisfaction with QLAdmin products and support. QLAdmin is your proven partner in policy administration. www.qladmin.com
Equisoft
Equisoft is a business-first technology company dedicated to helping insurance and wealth management organizations reach their goals. Specialized expertise: Over 25 years of experience helping small and mid-sized life insurers & fraternals solve their biggest challenges through digital transformation. www.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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