Life Insurance Conference 2013


Published on

  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Life Insurance Conference 2013

  1. 1. Jazz up your Life at the 2013 Life Insurance Conference! Looking for ways to invigorate and boost business in the coming year? The 2013 Life Insurance Conference will “jazz up your life” with the latest industry developments, marketing strategies and product innovations. This year’s conference will draw a broad audience of professionals involved in the development, operations, marketing, distribution and administration of life insurance products. Conference partners LIMRA, LOMA, the SOA and the ACLI are all committed to providing attendees with the very best in research and knowledge that will help guide decision makers toward a more successful future. Come meet and network with industry leaders who encounter — and solve — the same challenges you see every day. At the 2013 Life Insurance Conference, you will learn to: l Gain a competitive advantage l Benchmark your strategies with the best in the industry l Deliver a better customer experience l Harness the power of social media No other conference can offer you the depth and breadth of information that you’ll find here. Join us and see for yourselves what we can do for you!2 The 2013 Life Insurance Conference
  2. 2. General Session HighlightsLife Insurance Industry: Executive Outlook Market Signals: What the Financial Carolyn M. Johnson Markets Are Telling Us Now Executive Vice President Peter F. Ricchiuti and Chief Operating Officer Founder and Director of Research Protective Life Corporation BURKENROAD REPORTS President Freeman School of Business West Coast Life Insurance Company Tulane UniversityJoin Carolyn Johnson as she shares her insights “If the majority of people were right,on the state of the life insurance industry. the majority of the people would be rich...andThis informative session will highlight the they’re not!” Following the herd has rarelychallenges and opportunities that the industry has produced superior long-term results. Tulaneendured and overcome as well as those that lie University’s Peter Ricchiuti will share hisahead. informative and entertaining perspective on financial markets, the importance of properEconomic Outlook 2013 diversification, and the cyclical nature of both stocks and investment sectors. Paul D. Ballew Chief Data, Insight, and Analytic Officer Dun & Bradstreet Strengthening the Brand and Business It has been almost four years since the Model — Exponential Growth in start of the economic recovery and the Turbulent Timeslingering impacts of the Great Recession remain. José S. SuquetNavigating these unique economic and financial Chairman of the Board,market waters remains challenging even for the President and CEO Pan-American Life Insurance Groupbest positioned companies in the marketplace.Dun and Bradstreet has spent considerable time Since his arrival as President andassessing behavioral changes and how they will CEO of Pan-American Life in November ofshape the future market conditions. Paul Ballew 2004, José Suquet redefined the company bywill provide D&B’s unique perspective on the establishing a new strategic focus, going back tobusiness cycle, behavioral changes and what may what it does best, life and health insurance.lie ahead, with a specific focus on the insurance A new operating model was implemented,industry. launching new products and services, adding new distribution channels, and entering into new markets. This approach solidified the company’s financial strength and resulted in a rating upgrade in 2010, at the height of the worst economic recession since the great depression. Learn how strengthening your company’s brand and business model can lead to exponential profitable growth, even in turbulent times. The 2013 Life Insurance Conference 3
  3. 3. Program Overview Monday, April 15 General Session — 3:45 to 4:45 p.m. Market Signals: What The Financial Markets Are Registration — 12:00 noon to 6:30 p.m. Telling Us Now Meet and Greet — 3:30 to 4:00 p.m. Peter F. Ricchiuti Founder and Director of Research Concurrent Sessions — 4:00 to 5:00 p.m. BURKENROAD REPORTS Welcome Reception — 5:30 to 6:30 p.m. Freeman School of Business Tulane University Tuesday, April 16 Registration — 7:00 a.m. to 4:45 p.m. Wednesday, April 17 Continental Breakfast — 7:00 to 8:00 a.m. Continental Breakfast — 7:00 to 8:00 a.m. General Session — 8:00 to 10:00 a.m. General Session — 8:00 to 8:45 a.m. Life Insurance Industry: Executive Outlook Strengthening the Brand and Business Model — Exponential Growth in Turbulent Times Carolyn M. Johnson Executive Vice President José S. Suquet and Chief Operating Officer Chairman of the Board, President and CEO Protective Life Corporation Pan-American Life Insurance Group President Refreshment Break and Exhibitor Raffle — West Coast Life Insurance Company 8:45 to 9:15 a.m. Economic Outlook 2013 Concurrent Sessions — 9:15 to 10:15 a.m. Paul D. Ballew Break — 10:15 to 10:30 a.m. Chief Data, Insight, and Analytic Officer Dun & Bradstreet Concurrent Sessions — 10:30 to 11:30 a.m. Refreshment Break — 10:00 to 10:30 a.m. Conference Adjourns — 11:30 a.m. Concurrent Sessions — 10:30 to 11:30 a.m. Luncheon — 11:30 a.m. to 1:00 p.m. Concurrent Sessions — 1:00 to 2:00 p.m. Break — 2:00 to 2:15 p.m. Concurrent Sessions — 2:15 to 3:15 p.m. Refreshment Break — 3:15 to 3:45 p.m.4 The 2013 Life Insurance Conference
  4. 4. Life Insurance Conference Concurrent SessionsMonday, April 15 1.3 Reaching the Elusive Middle Market Middle income households are less likely to own4:00 to 5:00 p.m. life insurance and more likely to say they need it more than those in more affluent households. But1.1 Life Insurance Service Times, NIGO and reaching this large underinsured market has been e-Applications: How Do You Measure Up? a daunting challenge for the life insurance Customer service continues to be a differentiator between life industry. Is there a secret to success for selling life insurers; and speed to issue in particular is one such way that insurance to the middle market? Come to this insurers can set themselves apart from their competitors. session to hear two points of view. First, hear As more companies move to electronic applications and results from the third annual Life Insurance electronic issuance, companies are seeing reductions in new Barometer Survey, a joint project of LIMRA and business issue times and NIGO rates, along with reduced unit the LIFE Foundation, which will include a special costs per application. The presenters will use information focus on the middle market. Then learn about a gleaned from recent studies to help you better understand unique new program targeted at the middle trends in life insurance service times and impact of market: MetLife’s partnership with Walmart to sell e-applications on unit costs and placement ratios. life insurance to customers of one of America’s largest retailers. Karen Monks, Analyst, Celent; Angie B. Norman, CTP, Senior Associate, Financial and Strategic Services, LOMA Manish Bhatt, Senior Vice President, Global Brand and Digital Marketing, MetLife; Todd A. Silverhart, Ph.D., Corporate Vice President and Director,1.2 The Importance of Cybersecurity: Helping Business Markets Research, LIMRA Opportunities Unfold Your business is poised for enormous gains over the next 1.4 Actuarial Communication Is Not an decade, thanks to innovations in cyberspace. Mobile Oxymoron technologies will boost workforce productivity. Social networking will promise new ways to collaborate. Cloud Did you notice a change in actuarial computing will improve business agility. Such technologies communications after May 1, 2011, when the will increase your competitive advantage, but only if you can revised version of Actuarial Standard of Practice understand and neutralize emerging threats. This session will No. 41 became effective for actuarial provide an up-to-the-minute look at threats these communication issued after that date? Or did the innovations bring and what’s being done to counter them. date pass without any apparent changes in actuarial communications? This session will use Jeff Fawcett, Partner, Americas Practice Lead, CSC examples to discuss what actuaries have done to comply with revised ASOP 41 and practices that actuaries use to ensure their continued compliance. Jeffrey Drake, FSA, MAAA, Vice President, OneAmerica Financial Partners; James Miles, FSA, MAAA, Consulting Staff Fellow, Society of Actuaries The 2013 Life Insurance Conference 5
  5. 5. Life Insurance Conference Concurrent Sessions Tuesday, April 16 2.4 Debunking the Myths of Automated Underwriting and Other E-ssential Activities 10:30 to 11:30 a.m. There is an increased interest for underwriting automation 2.1 The Challenge of Today’s Low Interest to improve ease of doing business with agents, improve Environment workload management and help facilitate better Today’s interest rate environment is challenging underwriting decisions. As automated underwriting is for life insurers in markets around the world. more readily accepted, it also becomes increasingly more A sustained low-rate environment makes it difficult important for companies to embrace the use of electronic for life insurers to achieve their target spreads. applications and e-signatures. This session will help Also, today’s policy responses of central banks may individuals gain a better understanding of carriers’ top increase the chance of a rapid rise in interest rates underwriting challenges and uncover specific plans and in the future. This scenario is also challenging for solutions for improving overall underwriting effectiveness the financial management of life insurers. In this and the integration with e-apps and e-signatures. session, we will review approaches to quantify Deb Smallwood, Founder, Strategy Meets Action interest rate exposure, the strategic options available to life insurers, and the techniques used 1:00 to 2:00 p.m. to implement these strategies in the market. Terry Long, FSA, MAAA, Senior Vice President and 3.1 Indexed Universal Life: What You Need to Know Consulting Actuary, Lewis & Ellis, Inc.; Mark Indexed UL brought in the most additional new life Whitford, FSA, CERA, MAAA insurance premium over the past few years and is one of only two products able to increase its sales each year of the 2.2 A Look at the Current Effects of the recession. In this workshop you will hear about important Dodd-Frank Act issues that surround this hot product (such as pricing, Now that some of the regulatory pieces of the DFA ethics and distribution) and how some may relate to other are in place, here’s how it affects your business products in your portfolio. today. Bobby Samuelson, Executive Editor, The Life Product Review Ethan T. James, Partner, Debevoise & Plimpton, LLP; Satish M. Kini, Partner, Debevoise & Plimpton, LLP; 3.2 Introduction to Reinsurance: Lose Your Fear Amanda Greenwold Wise, Counsel, Debevoise & of the Dark Side Plimpton, LLP If you work in insurance, reinsurance affects much of what you do and some of how you do it. Can you afford 2.3 Call, Click, or Come In: Insights on not to understand the basics of something so beneficial Multi-Channel Distribution in the and commonplace, yet largely behind the scenes? Insurance Industry This crash course will cover various kinds of reinsurance How will consumers’ increasing familiarity with a arrangements, reinsurance treaty language, and key multichannel (phone, Web, in-person) shopping reinsurance regulations. Here is your opportunity to experience affect the insurance industry? Will learn from the Society of Actuaries’ Reinsurance Section consumers expect the same choices and exhibit the Council’s LEARN (Life Education and Reinsurance same behaviors when shopping for insurance as Navigation) initiative. Don’t miss out! they do when shopping for clothes, books, and Michael L. Kaster, FSA, MAAA, Senior Vice President, electronics? This workshop will examine these Life Solutions Group, Willis Re, Inc. issues as it addresses the reality of today’s purchasing behaviors and consumers’ channel 3.3 Actuarial Models: Friend or Foe? preferences for insurance and financial services. Highlights from new LIMRA research will also be Are you involved in conversations dealing with your discussed, examining the factors that drive channel company’s actuarial models? Do you have a good grasp choice for various insurance products and on what they do and how they are used? Good actuarial identifying implications for companies looking to models require consistent data and processes, a good effectively reach today’s multichannel consumer. understanding of which can benefit everyone. This session will provide an overview of what actuarial models do, Sean F. O’Donnell, Assistant Vice President, Member why they are important, and what best practices help Relations, U.S. Client Services, LIMRA; Todd A. companies control and govern models. Non-actuarial and Silverhart, Ph.D., Corporate Vice President and actuarial participants alike should gain an increased Director, Markets Research, LIMRA understanding of model processes and model uses. Rob Stone, FSA, MAAA, Principal and Consulting Actuary, Milliman, Inc.6 The 2013 Life Insurance Conference
  6. 6. Life insurance Conference Concurrent Sessions3.4 Connecting With the Hispanic Market 4.4 Jazzing Up the Life Insurance Product The 2010 Census counted over 50 million Hispanics living Development and Introduction Process in the United States. This market has become increasingly As insurers seek ways to grow their business and complex in terms of demographics and culture. Come and satisfy distribution channel demands, they are hear about the latest LIMRA research findings and what looking to simplify their product introduction applications they may have from a company standpoint. process while quickly evaluating market acceptance. Nilufer Ahmed, Ph.D., Senior Research Director, Markets This session will provide carriers insight into how the Research, LIMRA; Jorge Enderica, CLU, ChFC, RHU, Vice emergence of “as a service” models enable carriers to: President, Business Development, Global Life, Pan-American • Dramatically shift the way product introductions Life Insurance Company are managed and maintained • Quickly evaluate market acceptance of the new2:15 to 3:15 p.m. product to allow for fine-tuning the marketing and sales approach4.1 Social Media is Mardi Gras Marketing • Drive new levels of efficiency and performance If you want to grow “apptivity,” attending this session is while quickly developing products in a highly a must! Video integrated with social media campaigns automated and consistent manner. have revolutionized the recruitment of producers and consumers with consistent content distributed over John Albanese, CLU, ChFC, Vice President, Business multiple Internet channels. The Mardi Gras mantra of Process Services, CSC; Enrico Treglia, Senior Vice social media communication of tweets, blogs, and articles President and Chief Operation Officer, Wilton Re must include entertainment value. Content is King. Consistent distribution is a must. Hear from a firm whose videos and social media Wednesday, April 17 communications exceed 65,000 page views and downloads a month! 9:15 to 10:15 a.m. Steve Savant, Host of the Business Insurance Zone, Brokers 5.1 Unclaimed Property — The Pain Grows Alliance Insurers continue to wrestle with the implications of state audits, retroactively changing the rules of4.2 The Moment of Truth the insurance business as they relate to unclaimed It is the moment that we hope never to face, yet also the benefits. The auditors press for greater transfers time when the unquestionable value of the life insurance of funds to the states and more affirmative — industry shines through — filing a death claim for a loved but onerous — outreach to potential beneficiaries. one. In this session, LIMRA will share the results of a 2012 The aggressive enforcement approach of state pilot research study that measured the effectiveness of the officials continues to create questions for insurers, life insurance claims process. Come hear about the policyholders, beneficiaries and state officials. experiences of over 4,000 beneficiaries. Legislative initiatives and lawsuits are generating Jennifer Douglas, Associate Research Director, Developmental new dynamics and tensions. Hear two nationally- Research, LIMRA respected attorneys, one from each coast of the United States, unravel the complexity of the situation.4.3 Predictive Analytics — Here to Stay or Katherine Evans, Esq., Partner, SNR Denton; Passing Fad? Michael Lovendusky, Vice President, Associate General Counsel, American Council of Life Insurers; Predictive analytics has gained a lot of momentum outside Maeve O’Connor, Esq., Partner, Debevoise & of the life insurance industry over the past several years as Plimpton LLP the amount of data and its accessibility has dramatically increased. However, this is not the first time that we have seen outside technologies or initiatives fail to take hold or make a material difference in our industry. This session will explore how predictive analytics initiatives are penetrating the life insurance business and what the future holds for additional analytical possibilities. Chris Stehno, Senior Manager, Deloitte Consulting The 2013 Life Insurance Conference 7
  7. 7. Life Insurance Conference Concurrent Sessions 5.2 Life Insurance Product Update: Brave New 10:30 to 11:30 a.m. World 6.1 How to Sell More Life Insurance The regulatory and economic environments continue to factor in today’s life insurance market. Over time, traditional insurance agents and advisors have Our panel of experts will discuss life insurance incorporated investment products into their practice, product trends, today and tomorrow, including: oftentimes at the expense of life insurance. What will drive today’s more investment-focused agents and advisors to sell • Term insurance, Universal Life with secondary more life insurance? Come to this session to hear the results guarantees, and Indexed UL of the latest LIMRA-McKinsey study of experienced • Regulatory impacts on products such as AG38, financial advisors and learn the implications of this trend, valuation rate changes and how organizations can provide the support today’s • Underwriting trends affecting life products agents and advisors need in order to have a renewed focus on life insurance. Once the research groundwork is laid, • Top ten drivers of product design over the next learn what one company is doing to capture the attention five years of advisors, and sell more life insurance in the process. Participants will learn to identify key product Roy Freiman, CLU, ChFC, Vice President, Life Product Sales, offerings and how the regulatory world, economic Prudential; Patrick Leary, LLIF, Assistant Vice President, environment, and other factors are influencing the Distribution Research, LIMRA ever-changing life insurance business. Donna Megregian, FSA, MAAA, Actuary, Milliman 6.2 Predictive Modeling: Pitfalls and Possibilities Inc.; Tim Pfeifer, FSA, MAAA, President, Pfeifer With an increasing emphasis on Simplified Issue products, Advisory LLC more and more companies are looking to alternative data sources to help improve speed and reduce costs. Learn how 5.3 E-Processing: From Application to Issue to avoid common pitfalls in implementing predictive Technology continues to challenge long-accepted models while better understanding ways in which these insurance practices while it can accelerate and models can drive reduced expenses, improved persistency, condense the sales and issue process. In this session and faster underwriting decisions. Specific examples from a you will learn about technology trends in life recent LexisNexis benchmarking study will highlight uses insurance sales, application and issue as well as cases for underwriting classification and conservation/ policy delivery and social media. New techniques customer retention. and processes will be discussed along with the Patrick Sugent, Vice President, Analytics, LexisNexis; Elliott practical business challenges they present. Speakers Wallace, Vice President, Life Insurance Vertical, LexisNexis also will address the rewards — and pitfalls — in crossing the digital divide. 6.3 Professionalism in the Everyday Life of An Actuary Chad Hersh, Partner, Novarica; Robert McIsaac, Professionalism issues that may be encountered in the FLMI, LLIF, Principal, Novarica everyday life of an actuary will be highlighted using brief case studies. Members of the audience will be actively 5.4 Reinsurance Challenges for Small-to- solicited for their comments, observations and insights. Medium Sized Companies Participants will also gain an awareness of the multitude This session will cover the topic of reinsurance for of resources available to the actuary as they navigate the not-so-large insurance carriers. Do they have professionalism issues. challenges in obtaining reinsurance capacity, and if James Miles, FSA, MAAA, Consulting Staff Fellow, Society so, how does this get addressed by some of Actuaries companies? What about non-traditional forms of reinsurance, to help with management of surplus and capital requirements? And finally, how do small-to-medium-sized companies utilize reinsurance as a part of their risk management strategies? A panel of reinsurance industry experts will address this in an open forum and dialog with the attendees. Michael L. Kaster, FSA, MAAA, Senior Vice President, Life Solutions Group, Willis Re, Inc.8 The 2013 Life Insurance Conference
  8. 8. Distribution of Concurrent Sessions Distribution/ Actuarial/ Administration Session # Session Title Marketing Product and Customer Markets Dev. Underwriting Experience Reinsurance Regulatory Technology Early Birds 1.1 Life Insurance Service Times, NIGO and e-Applications: Monday How Do You Measure Up? u u 4:00 to 1.2 The Importance of Cybersecurity: Helping Business 5:00 p.m. Opportunities Unfold u 1.3 Reaching the Elusive Middle Market u 1.4 u Actuarial Communication Is Not an Oxymoron Tuesday 2.1 u The Challenge of Todays Low Interest Environment 10:30 to 2.2 A Look at the Current Effects of the Dodd-Frank Act u 11:30 a.m. 2.3 Call, Click, or Come In: Insights on Multi-Channel Distribution in the Insurance Industry u u 2.4 Debunking the Myths of Automated Underwriting and Other E-ssential Activities u u u Tuesday 3.1 Indexed Universal Life: What You Need to Know u u 1:00 to 3.2 Introduction to Reinsurance: Lose Your Fear of the Dark Side u 2:00 p.m. 3.3 u Actuarial Models: Friend or Foe? 3.4 Connecting With the Hispanic Market u Tuesday 4.1 Social Media is Mardi Gras Marketing u u 2:15 to 4.2 The Moment of Truth u 3:15 p.m. 4.3 u u Predictive Analytics — Here to Stay or Passing Fad? 4.4 Jazzing Up the Life Insurance Product Development and Introduction Process u u u Wednesday 5.1 Unclaimed Property — The Pain Grows u u u 9:15 to 5.2 Life Insurance Product Update: Brave New World u 10:15 a.m. 5.3 E-Processing: From Application to Issue u u 5.4 Reinsurance Challenges for Small-to-Medium Sized Companies u u Wednesday 6.1 How to Sell More Life Insurance u 10:30 to 6.2 Predictive Modeling: Pitfalls and Possibilities u 11:30 a.m. 6.3 u Professionalism in the Everyday Life of An Actuary The 2013 Life Insurance Conference 9
  9. 9. Thank You to Our Conference Exhibitors Sponsor and Exhibitor opportunities are available. Contact Barbara Kimball (860) 298-395010 The 2013 Life Insurance Conference
  10. 10. Conference Details and General InformationTO REGISTER ABOUT THE ASSOCIATIONSRegister by March 15 and Save! Over 850 financial services companies in more than 70 countries around the world turn to LIMRA first to help build their businessesBy March 15: and improve their performance. These members rely on our 90 yearsLIMRA, LOMA, SOA and ACLI members: $1,025 of industry experience, along with our rich resources in Research,Nonmembers: $1,525 Consulting, Assessment, Development, and Compliance andAfter March 15: Regulatory Services to help chart a clear course for growth.LIMRA, LOMA, SOA and ACLI members: $1,125 Mary-Jo AdamsNonmembers: $1,625 (860) 285-7798Register online: LOMA is committed to a business partnership with its members in the insurance and financial services industry to their management and operations through quality employeeMeeting Attire: The dress code for this conference is business casual. development, research, information sharing, and related products and services. Founded in 1924, the association’s membership roster boasts more than 1,200 member companies in nearly 80 countries.GROUP DISCOUNT James R. Huffman, FLMI, ACSIf five (5) or more individual employees from the same member company (770) 984-6446register for this meeting, each individual registrant may take advantage of a huffmanj@loma.orggroup registration fee of $100 per person. This discount applies only to www.loma.orgpeople registering at the full conference rate. E-mail foradditional qualifications and other important details regarding this discount. The Society of Actuaries (SOA) is an educational, research and professional organization dedicated to serving the public, its members and its candidates. The SOA’s mission is to advance actuarialBONUS OPPORTUNITY knowledge and to enhance the ability of actuaries to provide expert advice and relevant solutions for financial, business and societalThe Retirement Industry Conference will be held at the Hilton New Orleans problems. The SOA’s vision is for actuaries to be the leadingRiverside April 17–19, 2013. Save $250 when you attend both the Life professionals in the measurement and management of risk.Insurance Conference and the Retirement Industry Conference! Jay Semla (847)706-3624HOTEL INFORMATION Hilton New Orleans Riverside Two Poydras Street The American Council of Life Insurers (ACLI) is a Washington, New Orleans, LA 70140 D.C.-based trade association with more than 300 member companies Reservations: Phone: 504-561-0500 operating in the United States and abroad. ACLI advocates in federal, 1-800-hiltons state, and international forums for public policy that supports the industry marketplace and the 75 million American families that rely Make your hotel reservation by March 15, on life insurers’ products for financial and retirement security. 2013 and mention the group code LIR to ACLI members offer life insurance, annuities, retirement plans, receive the low conference rate of $229.00 long-term care and disability income insurance, and reinsurance, single/double per night. Reservations representing more than 90 percent of industry assets and premiums. received after March 15 will be accepted at Learn more at the prevailing rate and on a space-available- only basis. To confirm a room reservation, Linda Cunningham attendees will be required to provide a first (202) 624-2405night deposit. Deposits are refundable if cancelled 72 hours prior to the lindacunningham@acli.comindividual’s arrival date. www.acli.comAIRPORT TRANSPORTATION CONTINUING EDUCATION INFORMATIONAirport transportation is available to conference attendees through AirportShuttle, the official ground transportation provider for the Louis Armstrong For information on SOA CPD Credit and Continuing EducationInternational Airport. A discounted rate of $35 round trip is available to Credit — U.S. Qualification Standards please visit the Life Insurancethose who make their reservations online at least 24 hours prior to their Conference pages at the SOA website:’s arrival time. Visit any partners’ online conference page for a The conference partners, in conjunction with the Society of Financialcustomized link to make your reservations. Service Professionals, are pleased to inform you that attendance at any of the sessions will qualify interested individuals for PACE credits. The 2013 Life Insurance Conference 11
  11. 11. 005935-0113 (562-60-0-MQ2)