The LIC Annuity Committee is a resource dedicated to the unique challenges associated with the annuity business for small-to-midsize life insurance companies. Senior-level representatives from any and all corporate departments are welcome to attend and provide input on the topics you’d most like to see covered. The group will be focused on networking and sharing ideas and practical solutions to common challenges. The meeting brings together about 15-20 company representatives and relevant vendors, and the participants decide upon the most relevant discussion and presentation topics.
The itinerary includes meeting sessions on Wednesday, March 10, 10am to 12pm Eastern, a one-hour break, and sessions 1-3pm. For some fun networking before the meeting, join us Tuesday, March 9, 7-8pm Eastern for our BYOB Happy Hour on Remo, an easy-to-use platform that approximates real face-to-face conversation!
The meeting is open to insurance company executives, with a discounted registration fee for LIC members. Insurance Company groups of three or more qualify for $25 registration after the first two! Affiliate Members/Vendors must sponsorship the meeting in order to attend. Find out about LIC sponsorship opportunities.
See Who's Coming: Earlybird Registrations
American Fraternal Alliance: Allison Koppel, Chief Executive Officer
American Savings Life Insurance Company: Michael Frahm, Vice President
Barclays: Marie-Laure Chandumont, Managing Director
Barclays: Inho Choi, Head of US Insurance Solutions
Catholic Financial Life: Linda Hanson, Vice President - Actuary
Catholic Order of Foresters: Geno Turek, VP, Field Distribution Services
Catholic United Financial: Kelly Bretz, Director of Product and Enterprise Risk Management
GBU Financial Life: Lesley Mann, Chief Marketing Officer
Gleaner Life: Barbara Janowski, VP, Insurance Operations & Chief Underwriter
Greek Catholic Union of the U.S.A.: George Juba, President and CEO
Greek Catholic Union of the U.S.A.: Scott Schuetz, Chief Operating Officer, EVP
Greek Catholic Union of the U.S.A.: Basil Wahal, Frat. Comm. Director
Indiana Farm Bureau Insurance: Edy Gulley, Annuity Representative III
iPipeline: Jeremy Bourland, Director Sales
iPipeline: Michelle Brands, Director, Sales
KSKJ Life: Stu Buchanan, COO
Liberty Bankers Insurance Group: Michelle Clements, VP Operations
Liberty Bankers Insurance Group: Janet Gustafson, SVP Compliance, Corporate Secretary
MRS: Brenda Larson, Director of Life Strategy & Innovation
MRS: GG Oncel, Head of Strategy & Growth
National Slovak Society/NSS Life: Greg Felton, National Sales Director
Royal Neighbors of America: Juliet Christenson, Director Product Strategy and Development
Sagicor Life USA: Michael Reimann, Product Manager
SILAC Insurance Company: Mark Banks, Vice President of Compliance
Slovene National Benefit Society: Joe Evanish, National President, Chief Executive Officer
Slovene National Benefit Society: Dave Ely, CPIA
thinktum inc: Jenn McLean, AVP Operations
Trilogy Actuarial Solutions: Douglas Brown, Founding Partner
Trilogy Actuarial Solutions LLC: Brett Mushett, Founding Partner, Consulting Actuary
UTUIA: Lisa Powers, Supervisor Annuity Department
TUESDAY, MARCH 9, 2021
7:00 pm - 8:00 pm
Pre-Meeting Happy Hour
Join us before the meeting for a fun, casual BYOB Happy Hour on
Remo, an easy-to-use platform that approximates real face-to-face networking!
WEDNESDAY, MARCH 10, 2021
9:30 am - 10:00 am
Pre-Meeting Check In
The meeting room will open at 9:30 a.m. Eastern Time so you can check audio and video and catch up with your colleagues. See
www.loma.org/webex for tips.
10:00 am - 10:30 am
Welcome & Attendee Introductions
Each attendee will be introduced and invited to share their current initiatives and biggest challenges.10:30 am - 11:30 am
Annuity Case Study: SILAC
After shifting product focus to annuities, growth exploded. Hear how they geared up from a business perspective.11:30 am - 12:15 pm
Case Study: Converge Re
Rick Hodgdon, President, Converge Re-
12:15 pm - 1:00 pm
Break
1:00 pm - 1:45 pm
4 Key Factors for a Successful FIA Program
Marie-Laure Chandumont, Managing Director, Barclays
Inho Choi, Director, Barclays
Barclays has a long track record in helping carriers enter indexed products and want to offer differentiated and cost effective annuities and life products.
Many smaller companies offering annuities do not currently offer indexed products. Given the current interest rate environment, these products may provide a way to continue offering customers compelling savings- and income-oriented products.
Barclays will focus on 4 factors which may help insurance carriers design annuities in a sustainable way, while providing value to their end clients.
Marie-Laure Chandumont leads the Annuities team at Barclays, a leading hedge provider of annuities. Barclays started partnering with carriers on designing annuities after the 2008 crisis stressed the need to incorporate risk management at product inception.
Inho Choi has been providing insurance companies with insight and advice on ALM, asset allocation, investment strategies and risk management for more than 25 years. Barclays has designed and executed contingent liquidity & capital, yield enhancement strategies, capital efficient investment structures, pension risk transfer, and reinsurance solutions.1:45 pm - 3:00 pm
Annuity Issues - Facilitated Discussion
Find out what others are doing, what works and what doesn’t, and discuss common challenges, with live polling results to launch a deeper dive. Topics pre-submitted by participants include:
• E-Apps for annuity sales
• Blocks with high minimum guarantees
• Do any of the carriers offer a Medicaid SPIA?
• Effects of NAIC Standard Nonforfeiture Law for Individual Deferred Annuities and Best Interest Standards
• COVID impact on marketing & distribution strategy and sales
• Concerns about spread compression
• Thoughts on MYGAs and Indexed Annuities in this low interest rate environment
• Concerns and challenges recruiting new producers
• Interest rate setting process and 2021 valuation rate
• Plans/expectations regarding annuity sales volumes, investment strategies, new product development, reinsurance
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3:00 pm
Adjourn