Life Accelerated
Jul 6, 2022
Forrester analyst on what the industry’s future holds & how to prepare
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It’s hard enough to plan for tomorrow. What does the future hold for the life insurance industry? And how can we reach new generations who are skeptical?
Ellen Carney, Principal Analyst at Forrester, lives in the data. In this episode of Equisoft’s Life Accelerated, she walks through the major risks facing the industry, how to progress and plan for the future, and what to prioritize as the consumer, product and market rapidly changes. Learn what’s next and how to act now.
More episodes from Life Accelerated
May 10, 2023
Mastering Life Insurance, Customer Engagement, and Creating Unforgettable Policyholder Experiences with Matt Berman
Matt Berman, a dynamic leader in the life insurance industry, brings over 16 years of experience to the table. Having held senior roles in product distribution and customer experience, Matt now serves as the President for both the US and Canadian markets at Foresters, a financial services company focusing on life insurance and investments. With a passion for delivering unique, value-driven experiences for policyholders, Matt is a key figure in driving Foresters' digital transformation journey, creating impactful and engaging solutions for members.
In this episode, Matt covers the transformation of the life insurance industry through digital innovation, how modern technology can boost customer engagement, the importance of adapting your product offerings to address ever-changing customer expectations, the implications of the COVID-19 pandemic on the life insurance landscape, and more.
Key Takeaways
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Digital transformation speaks to the experience you deliver for your end consumer, your agents and advisors, and–most importantly–your employees.
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Digital transformation is a way to enable advisors to make their impact on the consumer more effective, as life insurance is complex and everyone has a different circumstance.
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Engagement informs better business quality and a better, more mutually profitable relationship with the customer and state-of-the-art systems allow for more value and the ability to stay in touch with customers' needs as they evolve.
Timestamps
[00:00] - Introduction to Matt
[03:10] - Matt Berman's Background and Skills
[08:41] - Digital Transformation and Life Product Evolution
[11:28] - Distribution and Technology
[14:34] - Foresters Strategic Plans
[19:27] - Foresters Digital Transformation Journey
[22:49] - Sales-Related Systems
[24:30] - Foresters' Conception of Customer Engagement
[27:45] - COVID's Impact on Foresters
[30:46] - Making Life Insurance Compelling
Resources
Connect with Matt on LinkedIn
Learn more about Foresters Financial
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Apr 12, 2023
How to Ingest, Transform, and Feed Data with Voya’s Santhosh Keshavan
Voya Financial, Inc. is a leading health, wealth, and investment company that helps Americans become well planned, well invested and well protected. But how do they do this from a digital perspective?
Santhosh Keshavan, EVP and CIO at Voya, explains how they excel in the life insurance industry with their digital transformation efforts. He reveals the key components for digital transformation, their ambitious plans for the near future, the power of turning data into ‘intelligent data,’ and more.
Hear how Voya Financial, Inc. is using data to their advantage to grow their impact in the market.
Time Stamps
[00:00 - 02:21] Introduction to Santhosh and Voya Financial Inc.
[02:21 - 04:31] Santhosh’s role at Voya Financial Inc.
[04:31 - 06:07] Voya’s foundational work towards simplifying legacy systems
[06:07 - 07:39] How Voya defines digital transformation and interaction
[07:39 - 09:24] Challenges facing data migration and quality
[09:24 - 12:54] Voya’s transition to the cloud and the tradeoffs that come with it
[12:54 - 16:54] The My Voyage mobile app and interacting with customers
[16:54 - 18:50] Consolidation efforts to making the My Voyage mobile app possible
[18:50 - 20:18] Partnerships and digital transformation at Voya
[20:18 - 21:43] How the skill sets of the IT organization Voya is changing
[23:43 - 25:18] How Voya works to attract and retain talent and customers
[25:18 - 25:25] Closing
3 Key Takeaways
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Transformation will always be happening because technology is changing so fast. To keep up, you have to take initiative in consolidating core systems, investing in other foundational areas, focusing on data, creating a smooth customer experience, and enabling faster adoption.
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The first and most important component in the insurance market is data - having a good understanding of it and creating intelligence from it.
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Migrate data! Ever since Voya migrated their data to the cloud, they experienced more flexibility and were able to take advantage of innovation and transformation.
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Mar 8, 2023
MetLife’s secrets to success with Bill Pappas
MetLife’s secret to success? Looking outside of the industry.
MetLife is an insurance company dedicated to providing working-class Americans with financial protection and has helped generations of customers protect their property, finances, family and future. They are an insurance company that not only focuses on selling insurance, but they push people to live better and healthier lives.
Bill Pappas, Head of Global Technology and Operations at MetLife, shares his role in the company, the strategies they implement that has led them to success, the digital capabilities they are adapting, and their objectives to win over the marketplace.
Listen in to hear how MetLife is transforming and creating an impact in the insurance market.
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