Friday, March 29, 2024

SBLI

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SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) recently announced it has increased its coverage limit to $750,000 (from $500,000) for all risk classes, and for level term and whole life insurance policies underwritten for those eligible under the company’s fully digital and contactless underwriting process.

SBLI’s Accelerated Underwriting process now guarantees that no in-person contact is required for all clients ages 18-60 seeking $750,000 or less of life insurance. SBLI is the only life insurer to make such a process available for all medical risk classes.

SBLI’s Accelerated Underwriting is a seamless digital process from start to finish. No in-person medical exam or fluid collection is required; rather, a tele-med interview is conducted to complete an application which can be signed electronically by the client. Upon issue the client is able to accept and pay for the policy entirely online.

“SBLI is pleased to offer our unique process to a wider audience with this increase to $750,000 of coverage,” said James Morgan, president and CEO of SBLI. “During this time, our contactless Accelerated Underwriting process provides peace of mind and convenience for clients, simplicity for agents and speed for all.”

For more information on SBLI’s guaranteed Accelerated Underwriting process, please call 1-888-630-5000.

For over 110 years, SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) has specialized in providing hassle-free, affordable life insurance. Whether it be term life, whole life or a plan that combines the two, we offer dependable protection at a fair price.

Mutual of Omaha

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Although it’s hard to measure loneliness and social isolation, there’s strong evidence that many adults aged 50 or older are lonely or socially isolated in ways that have the potential to put their health at risk. In the past seven months, this issue has become an even greater cause for concern with the COVID-19 pandemic.

In response to this need, Mutual of Omaha has launched Mutual Cares, a valuable new online resource for seniors to help them stay well, connected, active and entertained.
Through Mutual Cares, individuals now have online access to comprehensive tools and resources, including ways to:

  • Stay Well—resources to provide a helping hand, listening ear or tools to build mental resilience.
  • Stay Connected—connections to crisis lines and ways to make meaningful connections.
  • Stay Active—exercise tips, yoga classes and exercises to help both mind and body.
  • Stay Entertained—tools to find great shows, great reads and great deals.

“Loneliness and social isolation, particularly as it impacts our country’s senior population, is a serious public health concern,” said Manoj Pawar, chief medical officer at Mutual of Omaha. “At Mutual of Omaha, we are committed to helping our customers live their healthiest, best lives. Staying healthy and engaged, despite our current stay-at-home and physical distancing mindset, is paramount. We’re excited to provide seniors with Mutual Cares and a wide range of information and tools to help them feel connected.”

Individuals can visit www.cares.mutualofomaha.com to access the loneliness and social isolation resources.

Founded in 1909, Mutual of Omaha is a highly-rated, Fortune 500 organization offering a variety of insurance and financial products for individuals, businesses and groups throughout the United States. As a mutual company, Mutual of Omaha is owned by its policyholders and committed to providing outstanding service to its customers. For more information about Mutual of Omaha, visit www.mutualofomaha.com.  

Mutual of Omaha

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Mutual of Omaha recently announced several new initiatives to address issues of racial equity and social justice, including the removal of Native American imagery from its corporate logo and additional funding for initiatives and charities addressing these issues.

“Mutual of Omaha has a longstanding commitment to diversity and inclusion, both within our company and in our community. As an organization and a leadership team, we are focused on taking additional actions to answer the call for racial equity and inclusion,” said Mutual of Omaha Chairman and CEO James Blackledge. “We have spent time listening to diverse perspectives among our associates, community leaders and diversity and inclusion experts, and are taking further action to advance racial equity and social justice to create meaningful change.”

Mutual will stop using the Native American imagery associated with its corporate logo. The transition away from the current symbol will begin immediately.

“We believe the decision to retire our corporate symbol is the right thing to do and is consistent with our values and our desire to help overcome racial bias and stereotypes,” Blackledge said. “We feel strongly our logo should reflect who we are as a company and our commitment to positive change.”

The company has earmarked $1 million in additional funding for community-based initiatives and non-profit organizations committed to racial equity, inclusivity, economic equality and social justice. In 2019, the company and its Foundation contributed more than $2 million to nearly 60 charitable organizations working in this critical space. In addition, the company will also offer the time and talent of its associates to be directly involved in these initiatives as appropriate.

Mutual also announced it will provide its management team additional training on diversity and inclusion, including unconscious bias training. The company will enhance its efforts to recruit, hire, promote, develop and retain a diverse workforce and heighten its focus on inclusive culture-shaping. Performance expectations will be expanded to evaluate management on progress in these areas.

“We have a longstanding commitment to diversity and inclusion, and a comprehensive diversity and inclusion strategy, so we have not been standing still in this area. However, in terms of outcomes, we have room for improvement and recognize that we must do more,” Blackledge said.

Mutual is also developing a more robust supplier diversity strategy, proactively seeking out vendors from underrepresented communities and purchasing from suppliers who are demonstrably committed to social justice and racial equity.

“As we work to create economic opportunity, it is incumbent upon us to seek diverse suppliers and business partners, and to ensure our vendors share our commitment to social justice and economic equality,” Blackledge said.

Mutual will continue to focus on issues of economic equality and social justice, with additional programs and initiatives in the months ahead, he said.

Mutual of Omaha is a full-service, multi-line organization providing insurance and financial products for individuals, businesses and groups throughout the United States. For more information about Mutual of Omaha, visit www.mutualofomaha.com.

Mutual of Omaha

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With more than fifty percent of employees saying they worry about their personal finances while at work,* financial stress can be a distraction leading to loss of productivity. Understandably, that’s a concern for employers.

Mutual of Omaha is now offering resources for employers who want to help their employees improve their financial wellness. Through Enrich’s financial wellness platform, Mutual of Omaha’s Employee Assistance Program (EAP) customers now have online access to comprehensive financial tools and resources, including:

  • Information on personal finance, budgeting, banking, insurance, investing, student loan and debt management
  • An online assessment of financial strengths and challenges that provides personalized information to aid in achieving financial goals

“Financial wellness has become increasingly important to employers as it’s become more of a concern for their employees,” said Kurtis Stewart, senior vice president of Workplace Solutions Underwriting and EAP at Mutual of Omaha. “At Mutual of Omaha, our mission is to help customers protect what they care about and achieve their financial goals. The Enrich financial wellness platform offers our customers convenient access to a wide range of information, tools and customizable resources tailored to individual needs.”

Founded in 1909, Mutual of Omaha is a highly-rated, Fortune 500 organization offering a variety of insurance and financial products for individuals, businesses and groups throughout the United States. As a mutual company, Mutual of Omaha is owned by its policyholders and committed to providing outstanding service to its customers. For more information about Mutual of Omaha, visit www.mutualofomaha.com. 

iGrad™ is a San Diego-based financial technology company that offers financial wellness solutions to more than 600 colleges and universities, more than 20,000 employers and more than 300 financial institutions. For more information about the iGrad™ platform for colleges and universities, visit www.igradfinancialwellness.com. For more information about the Enrich platform for employers and financial institutions, visit www.enrich.org.

*PwC’s 9th annual Employee Financial Wellness Survey, PwC US, 2020.

OneAmerica

Engaged employee benefits brokers tell OneAmerica® in a new snapshot survey about the state of business during COVID-19 that “administrative and operational” assistance provided to policyholders is the key way for insurance carriers to be most supportive during the global pandemic.

Almost half (46 percent) of brokers who responded to the poll1 say this support—provided through answering policyholder questions and addressing billing inquiries and other concerns, such as evidence of insurability for formerly furloughed workers —is of most use to them. General check-ins by a sales representative to a broker—to talk about their health and well-being—finished in second with 30 percent.

“At OneAmerica, being broker-centric means we are always looking for ways to positively enhance the experiences brokers and their clients have with us,” said Jim McGovern, senior vice president for Employee Benefits, OneAmerica. “Broker-centric also means doing all the things that bring the highest value and, in this period of uncertainty, simply asking them what’s on their minds and what’s happening to their book of business is our way of upholding our commitment to them.”

The poll of 50 brokers nationally who do business with OneAmerica was conducted in early May and addressed an array of COVID-19 topics to examine the changing environment. Our surveyed brokers identified several ways to help accelerate business, including employee assistance programs.

The poll is particularly useful to brokers when coupled with other recent broker outlooks conducted by Eastbridge and LIMRA.

In general, brokers are concerned in this COVID-19 environment about reduced enrollment volume (71 percent), reduced employer interest in voluntary products (51 percent), reduced employee interest in voluntary (45 percent) and time constraints, according to an Eastbridge report.2

LIMRA3 worked with the Society of Actuaries and Oliver Wyman to conduct a series of short surveys on the COVID-19 pandemic and its potential effects on the insurance industry as the pandemic has resulted in social-distancing practices and volatile market conditions that have caused disruptions in many life insurance companies’ processes. In LIMRA’s survey, 91 percent of the companies rated distribution/social distancing as concerns, followed by pricing/new business profitability (89 percent), and in-force profitability (77 percent).

Other revealing data from the OneAmerica survey:

  • Increased Demand. More than 70 percent of brokers perceive employee assistance programs (EAP) as having the most demand, three times more than the next highest choice: short-term disability insurance.
  • Timing. Seventy percent of surveyed brokers cited expecting their clients to wait to purchase new products or renew, while close to 30 percent expect employers to either provide more employee-paid options or look for plan design changes to minimize costs.
  • Enrollment Solutions. The best enrollment solution chosen by surveyed brokers is having a benefits administration system at 60 percent and virtual enrollment meetings follow with 24 percent. Brokers indicated the most preferred way to position auto-enrollment is through success stories and testimonials, followed by economic data and statistics.

In response to broker’s wishes, OneAmerica continues to offer education opportunities live and on-demand through oneamerica.com/brokertraining to access training sessions. Outreach also includes work with sales representatives, who can provide personalized learning on topics like Family Medical Leave Act (FMLA), trends in short- and long-term disability, ethics and more.
“We’re stepping up, stepping in and going the extra mile, because brokers can’t afford to take their eye off the ball in regard to the very short sales cycle leading up to 1/1 enrollment,” McGovern said.

Life insurance is one of the most important types of insurance coverage available to support long-term financial security. Companies who offer voluntary group life insurance keep their own benefits costs low and give their employees a valuable, lower-cost life insurance option than the employees would find in the individual insurance marketplace.

Unlike medical or dental, voluntary benefits may be perceived in the marketplace as “nice to have” but not “must have” for those employees who feel they have a limited budget to spend on insurance.

“We see it differently—we see it as paycheck protection that supports the hopes and dreams of individuals and families,” said McGovern. “So do our brokers. And brokers want to always know who to call when they or their clients need help navigating any challenges or answering any questions. Fortunately, at OneAmerica, our one-on-one model with local field liaisons enables better communication, promotes quicker problem resolution and builds confidence with our clients.”

OneAmerica offers employer-paid and voluntary term life insurance (where the employee pays for the life insurance benefit but receives a group rate).

OneAmerica® is the marketing name for the companies of OneAmerica. Insurance products issued and underwritten through American United Life Insurance Company® (AUL), a OneAmerica company.

Find some of our best stories at oneamerica.com/annualreport or contact your sales representative for the most recent stories

A national provider of insurance and financial services for more than 140 years, the companies of OneAmerica help customers build and protect their financial futures. OneAmerica offers a variety of products and services to serve the financial needs of its policyholders and customers. These products include retirement plan products and recordkeeping services, individual life insurance, annuities, asset-based long term care solutions and employee benefit plan products. Products are issued and underwritten by the companies of OneAmerica and distributed through a nationwide network of employees, agents, brokers and other sources who are committed to providing value to our customers. To learn more about our products, services and the companies of OneAmerica, visit oneamerica.com/about-us/companies-of-oneamerica.
OneAmerica® is the marketing name for the companies of OneAmerica. Products issued and underwritten by American United Life Insurance Company® (AUL), Indianapolis, IN, a OneAmerica company.

Reference:

  1. The nine-question poll of 50 brokers, all regions of the U.S., who do business with OneAmerica was conducted in early May 2020.
  2. Eastbridge Frontline Report as featured in BenefitsPRO article, “COVID-19 expected to impact voluntary.” Accessed here: https://bit.ly/Eastbridge_COVID19poll.
  3. “Survey: Insurance Companies Making Changes to New Business in Light of COVID-19,” May 2020. Accessed here: https://bit.ly/LIMRA_COVID19poll.

The Leaders Group

Family-owned independent broker-dealer The Leaders Group, Inc., surpassed 1000 registered representatives in 2020. Founded in 1994 by Dave Wickersham, The Leaders Group has grown steadily and enjoyed more than 25 years in a constantly evolving and volatile market.

“We didn’t start The Leaders Group to be a large firm” said Wickersham, “But we have always strived to do the right thing. And as a result, we have grown.”

As the number one distributor broker-dealer in the world for variable life insurance, The Leaders Group maintains a foothold in the industry and ranks fifth in overall insurance revenue in InvestmentNews’ latest annual independent broker-dealer survey. The Leaders Group is also in the top 20 of InvestmentNews’ broker-dealers ranked by pre-tax earnings. Data is collected from firms that participated in the InvestmentNews 2019 IBD surveys.

“Back in early 2012, we launched our Road to 1000 initiative, setting what we thought was a nearly unattainable goal of more than doubling the number of affiliated financial professionals,” said Sean Wickersham, president and CMO. “While the strategies and marketing may have changed along the way, I am thrilled that with the hard work of our team and a dedication to ‘doing the right thing,’ we have arrived at this important milestone.”

The Leaders Group has been the preferred broker-dealer for life insurance producers and retail representatives and has also been a leading broker-dealer for private placement insurance and life settlement solutions. The Leaders Group is one of the nation’s only broker-dealers specializing in wholesale brokerage business. With nearly 200 general agents and wholesale organizations, the firm is committed to helping distribute securities and insurance products through BGAs.

“The Leaders Group has evolved into a large firm with a small firm feel,” says Jane Riley, chief compliance officer. “I am so proud that our staff treats every representative like a person, not a number. Every person associated with us is a valued financial professional that has contributed to our success.”

The overarching motto “Doing the right thing is always the right thing” guides The Leaders Group’s business operations and decision making. The firm looks to continue thriving as a result of their unique understanding of the industry and flexible accommodation of almost any business model or situation.

For more information about The Leaders Group visit www.leadersgroup.net.

Mutual of Omaha

Mutual of Omaha is now offering online will preparation services through Epoq, Inc.
Employers who have group life insurance coverage with United of Omaha Life Insurance or Companion Life Insurance can now offer these free online services to their employees with basic life insurance and/or voluntary term life insurance coverage, as well as their legal spouse and adult children under age 26.

Will Preparation Services, powered by Epoq, Inc., includes the following services: Last Will and Testament; Power of Attorney; Healthcare Directive; and, Living Trust.

“Forward thinking insurers are seeking ways to engage more with policyholders, so we’re delighted our technology and services are now extending the experience and value Mutual of Omaha brings their customers,” said Grahame Cohen, CEO of Epoq N. America.

Contact your Mutual of Omaha representative for more information.

Founded in 1909, Mutual of Omaha is a highly-rated, Fortune 500 organization offering a variety of insurance and financial products for individuals, businesses and groups throughout the United States. As a mutual company, Mutual of Omaha is owned by its policyholders and committed to providing outstanding service to its customers. For more information about Mutual of Omaha, visit www.mutualofomaha.com.

Formed in 1994, Epoq works with insurers and financial institutions to help them innovate, differentiate and give greater value to their customers. The company achieves this by offering pioneering online legal and regulatory document preparation services as an enhancement to its client’s services. With offices in Massachusetts and in London, England, Epoq is respected globally and provides its unique services to over 60 major brands. For more information about Epoq, visit www.epoqtech.com.

Mutual Of Omaha

Recent events surrounding the COVID-19 global pandemic may have prompted you to ask important questions about the financial strength and stability of the companies you do business with. I want to take this opportunity to reassure you Mutual of Omaha stands strong and ready to continue meeting your needs through these uncertain times.

Since 1909, Mutual of Omaha has successfully navigated many challenging environments, guided by our mission to help our customers protect what they care about and achieve their financial goals.

As a mutual insurance company, we are owned by our policyholders. This uniquely positions us to focus solely on the long-term needs of our customers, not the short-term demands of the stock market.

Because our interests are fully aligned with our customers, we’re able to pursue a sound business plan and disciplined investment strategy. We finished 2019 with more than $50 billion in assets, and our $3.1 billion in statutory surplus represents added security and protection for our customers.

Our financial strength has been acknowledged by leading third-party rating agencies, which have affirmed their strong ratings of Mutual of Omaha and our insurance affiliates over many years.

As the COVID-19 pandemic continues to evolve, I’d like to share a few of the specific ways we’re responding to protect our customers and maintain our financial strength and stability:

  • We are taking extra precautions to protect the health and safety of our associates, our customers and our communities. We are following guidance from public health officials and practicing social distancing to help prevent the spread of COVID-19, including activating remote work capabilities for our associates.
  • We are providing uninterrupted service to our customers. We have robust Business Resiliency plans and are exercising elements of those plans to continue providing excellent service to our customers.
  • We are closely monitoring and responding to the economic environment and market conditions to ensure we remain well-positioned to meet current and future obligations. We are evaluating the potential impact of various adverse scenarios and proactively working to maintain our strong liquidity and capital positions.

As an insurance company, we’re committed to understanding and managing risks on behalf of our customers. While today’s environment isn’t without its challenges, we are well prepared and confident in our ability to weather the storm and continue fulfilling the promises we’ve made.

Thank you for your continued trust in Mutual of Omaha. We look forward to serving you for years to come.

James T. Blackledge
Chairman of the Board and CEO

SBLI

The leading provider of omnichannel customer engagement solutions, eGain, today announced that the Savings Bank Mutual Life Insurance Company of Massachusetts (SBLI) has selected eGain to provide great customer and agent experiences.

Insurance carriers are looking to differentiate themselves through innovative engagement in a digital world. SBLI selected eGain for its rich, out-of-the-box capabilities for digital-first, omnichannel customer engagement. The company will deploy eGain for virtual assistance, messaging, human-assisted chat, notifications, and cobrowse-enabled form filling to provide a unified and easy experience for the customer and the agent. Where needed, consumers using virtual assistance will be able to escalate with full context to human-assisted service, moving their journey forward without having to repeat context.

“Choosing a life insurance policy is one of the most important financial decisions consumers make, but that doesn’t mean it should be difficult,” said Michael Beaser, vice president and digital strategy officer at SBLI. “With our exciting new partnership with eGain, we’re empowering families to communicate with us whenever and however they choose, which will enable them to get the coverage that they and their loved ones need more easily.”

“Digital engagement should not only be rich but also connected for easy and innovative experiences,” said Ashu Roy, eGain CEO. “We are pleased to enable them for SBLI.”

Conceived by U.S. Supreme Court Justice Louis D. Brandeis, SBLI was established in Massachusetts in 1907. Today, SBLI is a policy-holder-owned provider of safe, low-cost life insurance products, currently licensed in 49 states and the District of Columbia. For more information, visit www.SBLI.com.

eGain omnichannel customer engagement solutions power digital transformation for leading brands. Our top-rated cloud applications for messaging, virtual assistance, social, mobile, web, and contact centers help clients deliver optimized customer journeys. To find out more about eGain, visit www.eGain.com.

Ohio National

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Insurance Technologies, LLC, a provider of sales and regulatory automation solutions for the insurance and financial services industries, announced that Ohio National Financial Services (Ohio National), an insurance provider offering life and disability income insurance, has launched FireLight® e-Delivery to provide a comprehensive, secure and modernized digital communication and sales experience for its financial professionals.

“We see FireLight e-Delivery as a win for our policy owners and our producers,” said Christopher J. Calabro, CLU, ChFC, Ohio National senior vice president and chief marketing officer. “It further simplifies the application process for our producers and efficiently delivers policies to our policy owners while also reducing our application operating costs. We’re initially launching FireLight e-Delivery for our term life insurance products but look forward to expanding to additional products with it in the near future.”

Ohio National chose FireLight e-Delivery for its robust features, usability and flexibility that allow them to create their own user workflows and guided digital communication experiences. Firelight e-Delivery enables Ohio National to enhance and speed-up policy and document delivery to clients while improving back-office efficiencies and processes.

With FireLight e-Delivery, Ohio National is able to:

  • Deliver policies quicker and more efficiently—allowing financial professionals and customers to receive, review and sign electronically at their convenience;
  • Simplify the process of collecting requirements; and,
  • Significantly reduce policy delivery costs.

“It’s no secret that many producers and policy owners are looking for more technology-driven methods to deliver policies faster and more efficiently. FireLight e-Delivery offers that option and is a critical part of making this possible for carriers and distributors alike,” said Doug Massey, EVP of Sales and Relationship Management, Insurance Technologies. “Ohio National has been a valued partner and we knew the time, effort and money our e-Delivery solution could save them would reveal excellent results. It’s opened new ways they interact and support their financial professionals and clients by delivering enhanced and holistic sales experiences. We are excited to be able to continually develop and offer our clients, like Ohio National, solutions that support their digital and customer experience strategies.”

Ohio National’s portfolio of solutions also includes Insurance Technologies FireLight e- Application solution and the robust annuity and life illustration capabilities of ForeSight®. FireLight e-Delivery is a sales component of the FireLight Sales Platform, a leading cloud-based, end-to-end sales management platform for insurance and retirement business. Having the majority of their sales process on a single platform that re-uses common business rules and features allows for a better end-to-end user experience and lower overall operational cost.

Since 1909, Ohio National Financial Services has been committed to helping individuals, families and businesses protect what matters most. Through their network of financial professionals across 49 states (all except New York), the District of Columbia and Puerto Rico and through affiliated operations in South America, they provide the insurance products that help policyholders achieve financial security and independence. As of December 31, 2018, its affiliated companies have $39.3 billion total assets under management. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Please visit www.ohionational.com for more information and for the latest company updates connect with Ohio National on LinkedIn, Facebook and YouTube.

Insurance Technologies provides innovative sales and regulatory automation solutions to the insurance and financial services industries. Offering a suite of integrated sales solutions, from pre-sale functions to illustrations through e-application and e-delivery to post-sale services, Insurance Technologies provides carriers and distributors the sales capabilities and tools to create automated and cohesive sales experiences for their advisors and clients across all lines of insurance, retirement and investment products. The unique architecture and flexibility of its solutions deliver front and back-office configurability and usability to support multiple business strategies, encourage cross-channel growth and evolve with regulatory changes.

For more information visit www.insurancetechnologies.com and follow the company on Twitter, LinkedIn and Facebook.

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