ACLI Smposium Aims To Bridge Cultural Divide Between Banks and Insurers

Washington, D.C. (March 5, 2003) - The American Council of Life Insurers (ACLI) will host a one-day Bank Insurance Symposium at the Loews L'Enfant Plaza Hotel, 40 L'Enfant Plaza, SW, in Washington, D.C. on March 27, 2003, from 8:00 a.m. to 3:00 p.m. Remarks from ACLI President and CEO Frank Keating will kick off the symposium. 

Designed for senior executives, this interactive seminar will provide a forum for political, regulatory, and industry leaders to share their views on the business practices and political issues facing the insurance industry in a bank insurance environment.

Unprecedented research, conducted by ACLI, CF Effron Company, KPMG, and Baker & Daniels, will be unveiled at the conference. The study uncovers key differences-and similarities-between the banks and insurance companies selling life insurance through the bank channel. 

"The report goes beyond examining survey findings and offers critical suggestions to insurers and bankers on how to bridge cultural differences hindering potential for success in the bank insurance market," says ACLI Senior Counsel Michael Lovendusky. "We are looking forward to sharing our information and providing an opportunity for insurers and bankers to fulfill the potential of the bank insurance industry."

The survey was organized along six major topic groups: distribution, marketing, products, risk and performance, administrative and operational, and effectiveness. By identifying the gaps in perceptions, major themes emerged and will be detailed at the symposium.

Participants will also attend breakout sessions to learn more about innovative training techniques, new product and process designs, and enriched sales and marketing practices. 

Guest speakers include U.S. Rep. Michael G. Oxley (R-Ohio), chairman of the U.S. House Committee on Financial Services and Frank Rinaudo, vice president of marketing & development of Life & Health Insurance Foundation of Education (LIFE).

For conference and registration information about the Bank Insurance Symposium, visit www.acli.com or call Victoria Freeman at (202) 624-2408. Registration materials are available online. Media representatives should contact Sarah Bohn at sarahbohn@acli.com to register for this event.

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ACLI represents legal reserve life insurance companies and fraternal benefit societies operating in the United States before federal and state policymakers, insurance departments, and the courts. ACLI is governed by a Board of Directors--elected by its membership--which sets policy and guides the actions of the association. ACLI's members are the leading providers of financial and retirement security products covering individual and business markets. 

www.acli.com