-Today, John Hancock announces a strategic collaboration with Clareto, a leader in digital solutions to acquire and aggregate electronic health data, to further improve the Company's underwriting speed and efficiency as part of its ongoing commitment to transform the life insurance purchase experience. John Hancock will leverage Clareto's growing…
A majority of consumers are interested in increasing or buying life insurance, particularly younger people, according to a survey. But almost all of them do not want to go to an office for it these days.
U.S. health insurers will likely remain profitable despite the uncertainty surrounding COVID-19 and its financial impact, Moody’s Investors Service said in a new report. However, U.S. life insurers could face some financial challenges.
Over the past five years, the life settlement market as an industry has multiplied vastly both in funds to purchase policies and consumer awareness.
The NAIC’s Statutory Accounting Principles (E) Working Group adopted three interpretations related to COVID-19 last week.
Pre-provision net revenue 1 was $45.9 million Adjusted PPNR 1 was $77.4 million, up 2.9% over first quarter of 2019 Noninterest expense was $158.7 million Adjusted noninterest expense 1 was $122.0 million Efficiency ratio 1 was 77.71% Adjusted efficiency ratio 1 was 59.31%, a 166 basis point improvement. End-of-period total loans 3 were $12,438.8 million…
The National Association of Insurance Commissioners is expected to delay collection of key insurer mortality data until 2021.
Mutual of Omaha CEO James Blackledge says the company is very strong and will survive the pandemic.
A new assessment of insurers’ financial strength ratings by DBRS Morningstar finds that capitalization will be the first area of impact if the recession continues. Insurers are going to lose the flexibility that comes with a strong capital cushion, the report concluded.
MassMutual extends LifeBridge program, offering free life insurance to healthcare workers across Massachusetts and Connecticut to recognize their heroic contributions during pandemic. SPRINGFIELD, Mass.& BOSTON—- Massachusetts Mutual Life Insurance Company today announced the launch of MassMutual HealthBridge, which will provide free term life…
In a 3-1 decision, the court reversed a Court of Appeals ruling that favored the children, over a stern dissent about the sanctity of contracts. In settlement of his 2009 divorce from Joan Pulkkila, James Pulkkila agreed to keep a $250,000 life insurance policy that named their two children as “sole and irrevocable beneficiaries” paid up until they became adults.
More than 38 percent of individuals who sold their life insurance policies in life settlement transactions last year said they were planning to lapse, cancel or surrender their policies until they learned of the life settlement alternative, according to a newly released survey from Welcome Funds, one of the nation’ s leading life settlement brokers.
The COVID-19 pandemic is being blamed for a -2.2% year-over-year decline in U.S. life insurance application activity for March, according to the MIB Life Index. The poor month interrupted a strong two-month growth trend.
Consumers are turning to online life insurance applications as a result of the ongoing COVID-19 pandemic, a new LIMRA survey found. A third of companies reported a decline in face-to-face applications while a quarter reported an increase in online applications in March.
COVID-19 is impacting the insurance industry in multiple ways—from employee and business continuity issues to client service considerations to the financial outlook. Here are some key issues insurers face and potential action steps they could take.
NEWARK, N.J.& SEOUL, South Korea—- Prudential Financial, Inc. announced today that it has entered into a definitive agreement with KB Financial Group Inc., a Korean financial services provider, to sell The Prudential Life Insurance Company of Korea, Ltd.. Under the terms of the agreement, Prudential Financial will sell 100% of its life insurance business in Korea…
–Haven Life, the digital life insurance agency backed and wholly owned by Massachusetts Mutual Life Insurance Company, is today launching new initiatives that help more life insurance applicants obtain the coverage they need. By working with MassMutual to introduce new medical data sets to underwriting algorithms and expanding data-powered human review,…
Prudential Financial Inc. will temporarily suspend taking applications for 30-year term life insurance policies, effective April 13, a spokeswoman confirmed today. The insurer cited “unprecedented market volatility over the past month and the anticipated low interest rate environment.”
Billionaire insurance magnate Greg Lindberg’s lawyers filed a motion Thursday for acquittal and for a new trial in the Western District of North Carolina. His attorneys submitted a 69-page document, claiming court errors, the government failed to meet the standard of “beyond reasonable doubt,” and that Lindberg was entrapped.
Virtual selling may take you out of your comfort zone, but it’s an effective way to reach clients and prospects in the time of stay-at-home orders and social distancing.