Teachers Life Taps New CEO to Drive Growth and Innovation Across its Expanded Life Insurance Portfolio
TORONTO, April 06, 2022 (GLOBE NEWSWIRE) -- Teachers Life today announced that Kayte Fredrickson, an insurance industry veteran, is taking the helm as chief executive officer. As CEO, Fredrickson is responsible for growing both Teachers Life, an 80-year-old Member-driven insurer, and its division nowly, a new digital-first and purpose-driven life insurance offering.
Kayte Fredrickson brings more than 20 years’ experience in senior roles in the insurance industry, most recently as a VP of Insurance with the Ontario Medical Association, a member- services organization representing more than 43,000 physicians. She also led an innovation-focused team at Munich Re, and held positions with other leading insurance organizations, including Desjardins, Swiss Re and Manulife Financial.
“Kayte has extensive experience in areas that are integral to the CEO role at Teachers Life, including insurance, innovation, and member services — a background that will serve her well in her new role,” said Lori Foote, chairman of the board of directors for Teachers Life. “This is especially important as Teachers Life expands its offerings to include nowly, and to our mission to improve the health and well-being of our communities.”
Both Teachers Life and nowly are digital-driven life insurers focused on delivering innovative services to members and policyholders with a strong commitment to giving back. nowly, launched in February, was designed from the ground up to make life insurance easy and accessible to Canadians using innovative technology to deliver instant coverage and benefits, as well as a unique program supporting social-preneurs, Press Start. The Press Start program is available for free to all Canadians and provides curated support, including business tools and resources for established and early-stage entrepreneurs.
Fredrickson highlighted the importance of innovation and mission at Teachers Life and nowly, noting: “Teachers Life has long been invested in closing the life insurance gap by making life insurance accessible and easy for underserved communities across Canada. While the industry has made big strides in modernization over the past several years, very few incumbent insurers are willing to be disruptive. Teachers Life is an exception, as it has demonstrated with the launch of nowly. It’s an exciting time to join the team and lead the drive for both innovation and growth in the years to come.”
About nowly nowly is a new way of thinking about insurance, offering Canadians affordable and accessible insurance on an innovative and streamlined platform, instantly. Backed by over 80 years of industry experience, nowly members will receive instant coverage and world class health and wellness benefits. As a nowly member, you are eligible for healthy living benefits powered by global leader Virgin Pulse and an annual 50-dollar Living Healthy rebate on any health and wellness app or membership. You can feel confident knowing you are joining a company committed to investing in lasting social impact through their new, innovative give back program called Press Start. nowly is a division of Teachers Life Insurance Society (Fraternal) “Teachers Life.” Find out more at www.nowly.ca.
About Teachers Life Teachers Life is a fraternal insurer with a mandate to give back to our Members. Since 2010, through innovation, we have been able to significantly streamline our process to generate more than $3.6 million for reinvestment back to the community. This includes investing more than $450,000 in scholarships and bursaries for the families of policyholders. Dedicated to those who work in education, these awards are a flagship program of our company’s fraternal mandate. Find out more at www.teacherslife.com.