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Spotlight on David Payne, EVP Employee Benefits at The Standard

Spotlight on David Payne, EVP Employee Benefits at The Standard

October 2025

Q. What inspired you to pursue a career in this industry, and how has your perspective evolved over time?

My inspiration to pursue a career in the insurance industry stemmed from a desire to make a difference in people's lives. Early in my life, I witnessed firsthand the profound impact that our products have on families. They provide financial security and peace of mind during life's most challenging moments. This realization ignited a passion within me to be part of an industry that plays such a crucial role in society.

Today, I am more committed than ever to driving positive change within the industry. I believe that by embracing digital transformation, prioritizing sustainability and maintaining a strong focus on customer needs, we can continue to make a difference.

Q. What sets your company apart from others in your industry?

What sets us apart is a combination of factors: our purpose, values, commitment to growth, and best-in-class workplace benefits.

Our purpose is to help people achieve financial well-being and peace of mind.

Our values, which are fundamental to our company's success, guide the way we interact and, when practiced consistently, ensure a work environment that enables us to achieve our goals and provide customers with a positive experience.

Our commitment to growth. The Standard is committed to accelerating our growth and competitive position as well as continuing to deliver excellence in the group benefits marketplace. Our recent acquisitions bring The Standard greater scale and a comprehensive set of workplace benefits offerings for employers of all sizes.

Our best-in-class workplace benefits are specialized, requiring a high level of expertise — and our people have the experience, expertise and empathy to provide insight and solutions to make them work.

Q. What are your primary goals as a leader for this year?

My primary leadership goals this year are to seamlessly integrate our recent acquisitions, ensuring a unified culture and to continue driving our investments in innovation by leveraging new technologies and enhancing our customer experience. The key to this is empowering our leaders and employees while fostering a resilient and agile organization. This will allow us to adapt to market changes and continue to deliver exceptional value to our clients.

Q. What emerging trends in the industry are you most excited about, and why?

I'm most excited about the advancements in digitization and AI within our industry. These technologies are revolutionizing how we operate, from streamlining claims processing to enhancing customer interactions with personalized services. AI-driven analytics provide deeper insights into risk assessment and fraud detection, improving accuracy and efficiency. Embracing these trends will significantly improve the overall customer experience and enhance operational efficiency, positioning us at the forefront of innovation in the industry.

In your opinion, what qualities make for an effective leader in the insurance and/or workplace benefits sector?

In my opinion, an effective leader in our industry is someone who can blend strategic vision and empathy. They should be able to anticipate industry trends and drive innovation while maintaining a strong focus on customer needs. Effective communication and transparency are crucial for building trust with clients and co-workers alike. Additionally, resilience and adaptability are essential qualities, as our industry is constantly evolving. Most importantly, an effective leader prioritizes empowering and developing other leaders within the organization, fostering a culture of growth and collaboration. Ultimately, an effective leader inspires and empowers their team to achieve collective success.

Q. What steps are you taking to ensure data privacy and security in an increasingly digital world?

As a company built on trust, The Standard is dedicated to protecting the confidential information of our customers, partners and employees. The Standard uses firewalls and other mechanisms to restrict and control access between our network and other networks, including the internet. We use and maintain appropriate antivirus measures to protect networks, systems and all end-user devices, as well as conduct intrusion testing regularly. We record all relevant system activity and proactively monitor for unauthorized network intrusions and access attempts. The Standard follows data encryption best practices, including encryption for data at rest and in transit. Before discarding media that stores data, The Standard follows best practices for data destruction, including sanitizing server disks and shredding paper documents.

Q. Are there any industrywide misconceptions you want to clarify?

One of the most common misconceptions is that young, healthy individuals do not need insurance. We see every day that accidents and unexpected health issues can affect anyone, making coverage essential for all ages.

Another myth is that group insurance policies and companies are alike. The quality of carriers and the specifics of coverages can vary significantly based on factors such as empathy, expertise, underwriting practices, coverage limits, and claims methodologies.

Clarifying these misconceptions helps individuals make more informed decisions about their insurance needs so they can have peace of mind.

Q. What skills or insights have you gained from your participation on the advisory board?

Serving on the LIMRA advisory board has provided me with invaluable insights into industry trends and best practices. I've gained a deeper understanding of emerging technologies and their impact on insurance, particularly in areas like digitization and AI. Collaborating with my peers and the LIMRA staff has enhanced my strategic thinking and broadened my perspective on customer-centric solutions. It has also helped me deepen relationships in the industry and made me a stronger leader.

David serves as vice chair of LIMRA’s Workplace Benefits Advisory Board.

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