This is a LIMRA member benefit. Registration is open to home/corporate office employees of LIMRA member companies. Membership will be verified upon registration.
Highlights
LIMRA’s Open House program is designed to update member companies on LIMRA's new and latest offerings. For those individuals who are new to the industry or to their company, the program will introduce LIMRA and how we can help their company.
As we all look forward to the future, we want to insure that our member companies are aware of all that LIMRA has to offer. We want you to think of "LIMRA First," particularly when you have questions or issues of concern. Our program is structured to meet the needs of all users of LIMRA information.
During the Open House, attendees will also have an opportunity to meet with their company's client managers, and learn what products and services are offered through our Assessment and Development Solutions, Compliance, Consultation, Custom Research, and InfoCenter areas all of which can help you and your company.
The Open House will begin at 1:00 p.m. on Wednesday, July 8, and will conclude at 12:00 Noon on Thursday, July 9, 2015.
InAh Chambers, Client Relationship Director, U.S. Client Services Anita Potter, Assistant Vice President, Insurance Research – Product
The Group Benefits market has gone through some significant changes over the past 10 years. We have seen the shift in employer contributions to various benefits. Healthcare costs continue to rise, forcing employers to pass those costs onto employees. The enactment of PPACA and the formation of public exchanges have led to the growth of private exchanges. Technology has fueled an increase in online education, communication, and enrollment capabilities. Given the changing landscape, what will the future hold? This session will examine what these changes mean for carriers, employers, and employees alike.
Jennifer L. Douglas, Associate Research Director, LTC & Developmental Research Kimberly A. Landry, Analyst, Insurance Research – Product
Is the motivation to shop for life insurance the result of careful deliberation of the pros and cons and a rational consideration of risk? The field of behavioral economics suggests otherwise. Instead, like most human behavior, consumer receptivity to life insurance is likely driven by quick, automatic responses. Come hear the results of new research in which LIMRA turned to the subconscious for some answers:
How do consumers really feel about life insurance ownership?
What emotional benefits do people want from life insurance?
What type of messaging might increase their likelihood to purchase the product?
Matthew Drinkwater, Ph.D., FLMI, AFSI, PCS, Assistant Vice President, Retirement Research
The 4.8 million pre-retiree households with financial assets of $1 million or more control a majority of all financial assets in the U.S. Many will turn to financial advisors and other professionals to help them manage their wealth and meet their retirement objectives. In this session, hear the latest research on how the affluent work with advisors, what services they value, and the dynamics of asset consolidation.
LIMRA’s InfoCenter is an extensive library of information on financial services. Using print and electronic resources, the InfoCenter’s experienced staff can answer your questions and help with your projects. Following an overview of the InfoCenter’s resources and services, workshop attendees will tour the facility. InfoCenter staff will be available to answer questions about the library or provide one-on-one consultation for specific requests.
2:25 p.m. - 2:40 p.m.
Break – LIMRA Cafeteria; Move to Workshop Session II
Paul S. Henry, Managing Director, Retirement Clients & Products – U.S. Client Services Gary Lineberry, Managing Director, LOMA
This workshop will look at the multi-generational market opportunity in the retirement industry; the challenges associated with growth and profitability in retirement; and offer tactical solutions to win in this growing business.
Nilufer Ahmed, Ph.D., Senior Research Director, Insurance Research – Markets
With a median household income of over $68,000, Chinese Americans are a desirable market to pursue. It is the largest group among Asian Americans, and is often characterized as a culture where saving is emphasized. Come and hear the latest LIMRA research findings on this market.
John Sullivan, Client Relationship Director, U.S. Client Services Faye Williamson, MSM, LLIF, Client Relationship Director, Sales & Relationship, U.S. Client Services
How well do you know LIMRA and the many ways we can help you? You may be surprised by some of the ways. Be prepared for some fun while learning how you can leverage your Client Manager to get the help and support you may need in your future projects!
Eric T. Sondergeld, ASA, CFA, MAAA, Corporate Vice President, Distribution and Technology Research
With life insurance ownership at a 50-year low and recent sales growth anemic, there are many obstacles to overcome in order to capitalize on the $15+ trillion opportunity. One of them has to do with price. As consumers can get information about virtually anything instantly, information about the cost of life insurance is not as readily available as a growing number of consumers would like. What are consumer attitudes about price? How is price an obstacle? What is the relationship between trust and transparency? Come to this session to find out what exactly is this price dilemma and what you can do about it.
3:30 p.m. - 3:45 p.m.
Break – LIMRA Cafeteria; Move to Workshop Session III
Mary M. Art, Research Director, Distribution and Technology Research
Today’s consumers expect companies to meet (or exceed) their expectations through all channels. This session explores the information-seeking and purchase processes for U.S. and Canadian consumers who recently researched or purchased individual products (individual life insurance, disability insurance, long-term care insurance, or annuities). It examines the factors that led them to consider products and the information and purchase sources they used, both on- and off-line, with a focus on those who use the Internet for research and purchase.
Joseph E. Montminy, Assistant Vice President, Annuity Research Todd Giesing, Senior Business Analyst, Retirement Research
This session will review developments and emerging issues in individual annuities, including: a) the growing non-GLB VA/structured annuity market; b) drivers of indexed annuity expansion, and c) the demand for income annuity products in spite of low interest rates. Predictions of key future directions in the market will be offered. We will also review 2013 VA GLB owner experience regarding withdrawal and surrender behavior.
Phil Brown, Leader, Customer Experience Todd A. Silverhart, Ph.D., Corporate Vice President and Director, Insurance Research
Customer Experience Measurement continues to be a strategic focal point for the financial services industry. However, limitations in applying existing measures to the life insurance industry are leading many to ask for new approaches. In this session, you will hear not only about the limitations of frequently-used metrics but more importantly about LIMRA’s approach to measuring the Customer Experience in the life insurance industry.
Dan Q. Beatrice, ACS, AIAA, Associate Research Director, Bank Insurance and Securities Research Associates Patrick T. Leary, LLIF, Corporate Vice President, Distribution Research Konrad Wisniewski, Associate Research Analyst
Many financial institutions have incorporated life insurance as part of their product offerings. Come to this workshop to learn how banks and credit unions market and sell individual life insurance. The session will further explore the best practices of those institutions that have had the most success in selling life insurance. What are they doing to make it work? What are they looking for in their relationships with their carrier and intermediary partners? By attending this session you will learn about the opportunities for selling life insurance in banks and what needs to be done to drive success.
4:45 p.m.
First shuttle to Marriott Hotel
5:15 p.m.
Second shuttle to Marriott Hotel
5:30 p.m. - 7:30 p.m.
Reception – Marriott Hotel, 28 Day Hill Road, Windsor, CT
Thursday, July 9, 2015
7:00 a.m.
First shuttle from Marriott Hotel to LIMRA Headquarters
7:15 a.m. - 8:00 a.m.
Coffee-Continental Breakfast
7:30 a.m.
Second shuttle from Marriott Hotel to LIMRA Headquarters
Senior Vice President and Director of Member Benefits Research, LIMRA and LOMA
Consumers have access to more information, and more product choices, than ever before. Innovation is critical to long-term growth and success. Come to this session to understand how insights from other disciplines like journalism, politics, and even neuroscience – a multidisciplinary field comprising subjects as diverse as biology, psychology, medicine, physics, and linguistics – can help improve business strategies in the financial services industry.
Kimberly A. Landry, Analyst, Insurance Research – Product
Employees today face more choices than ever when it comes to their insurance benefits, but most spend
less than one hour reviewing their options each year. It is therefore essential that carriers communicate the
value of their products clearly and concisely. Come hear the results of new LIMRA research that explored
this issue from the employee’s perspective, including:
How do employees want to learn about their benefits?
Which materials and decision-support tools do employees actually use, and what do they find helpful?
Which methods do employees prefer for enrolling in their benefits?
Come to this session to hear a sampling of LIMRA’s latest research on individual life insurance, from the rise of Indexed UL and fall of Lifetime Guarantee UL, to term product design, placement rates and the latest consumer opinions on life insurance. This session will include a cross-section of results from LIMRA’s individual life research projects, plus a look ahead to what to expect through 2015.
Judith A. Zaiken, CLU, ChFC, Corporate Vice President and Director, Retirement Research
A perfect storm describes an event where a combination of circumstances converges to aggravate a situation. Some use the term to describe the impending surge of retirees in the United States amidst unprecedented circumstances related to individual responsibility, worker mobility, social media, technology and global economic forces… and more. Come to this session to learn about the trends that will influence the future of retirement and how the financial industry, both retail and employer plans market, will need to evolve to support a new retirement reality.
James T. Scanlon, M.S., HIA, Senior Research Director
Neal Shah, Associate Analyst, Insurance Research - Product
Small business owners are a traditional market for insurers due to their multifaceted financial needs. They represent a generally affluent market and tend to be decision-makers regarding financial product ownership. Understanding the behaviors and attitudes of these entrepreneurs is critical to success in the massive and growing small business market. This session is designed to provide insights into the small business market by summarizing recent LIMRA small business studies and taking a deeper dive into findings from the Small Business Owners Trends report; which examines ownership trends over the past 10 years as well as attitudes towards various financial issues.
9:30 a.m. - 9:45 a.m.
Break – LIMRA Cafeteria; Move to Workshop Session V
Deborah Dupont,
Associate Managing Director, Research Anita Potter, Assistant Vice President, Insurance Research –
Product
Money and work are the two greatest sources of stress. Nearly ¾ of adults feel stress about money at least some of the time and while stress levels, in general, for Americans are trending downward, money stress is staying the same or increasing for most (nearly nine in ten). Financial distress can have negative impacts on health and employment… and health can also affect employment. This session explores the sources of individual stress and the impact stress can have on people as individuals and as employees. We explore the effects both near- and long-term (potential retirement impact, for example), and offer insights about what people expect from their employers in terms of information and resources… and the various roles financial and retirement providers can plan in helping both employers and employees.
Ken Cochrane, Vice President of Developmental & Commercial Research, Custom Research
In this session, LIMRA’s Custom Research group will present three case studies of how LIMRA was able to solve a member firm’s specific issue through research based consulting.
Malcolm C. McCulloch, Ph.D., Senior Research & Market Consultant, Assessment and Development Solutions
The next generation of successful leaders will need the business acumen and forward thinking strategies that are rooted in LIMRA’s Executive Development programs. Concentrated in leadership, marketing, and finance, our industry-specific curriculum is contemporary and relevant to the challenges faced by leaders at all levels. Learn about the LLIF designation and how you can gain the knowledge and skills to drive your performance to the next level.
10:35 a.m. - 10:45 a.m.
Break – LIMRA Cafeteria; Move to Workshop Session VI
Ron Neyer, CLU, ChFC, Assistant Research Director, Distribution
Research
With workplace dynamics continuing to evolve, voluntary benefits remain a fixture of employers’ benefit packages. This session will examine key findings from LIMRA’s Worksite Employer study, which measures the attitudes, buying behaviors, and preferences of voluntary plan sponsors. We will discuss how various strategies and communication efforts impact employee-funded options, as well as the future market potential for these plans.
Breana Macken, Senior Analyst, Distribution Research; Emily Tracey, Analyst, Distribution Research
The next generation of successful leaders will need the business acumen and forward thinking strategies that are rooted in LIMRA’s Executive Development programs. Concentrated in leadership, marketing, and finance, our industry-specific curriculum is contemporary and relevant to the challenges faced by leaders at all levels. Learn about the LLIF designation and how you can gain the knowledge and skills to drive your performance to the next level.
Assessing your data analytics program can be a confusing and difficult task. However, LIMRA has developed a multi-dimensional framework that will help you assess your analytics program. Come and discover how this framework was developed and how you can use it to get your program to the next level.
