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MAD Session Descriptions

News Direct – Number 56 | June 2007

SOA ’07 Annual Meeting & Exhibit–Moving Ideas Forward

  • Oct. 14-17
  • Marriott Wardman Park
  • Washington, D.C.

Mark your calendar and plan to participate in the SOA '07 Annual Meeting & Exhibit, where we’ll be offering insights into how to move your ideas off of paper and into action. We're also planning more great seminars and networking opportunities – and of course, a few surprises.

We’ve already lined up these exciting sessions:

Session MAD01
Monday, October 15
2:00–3:30 p.m.

Session Sponsor: Marketing and Distribution

The Speed-To-Market Imperative—Implications for Product Development and Product Strategy

Moderator: TBD
Presenters: Van Beach, Alice Kroll, Marianne Purushotham

The drive to improve speed-to-market has put product development and management practices under the microscope. New products and features have rapidly evolved while the shelf-life of products has shortened dramatically. Competition for customers and agent mind-share is fierce as this is widely viewed as the means to enhanced profitability. However, any advantage has proved to be short-lived as competition quickly follows. This rapidly-changing environment has put increased pressure on product development teams to "fix" the process. But what is "broken"? What is really the goal that companies are trying to achieve? What really needs to change?

Over the past year, three significant surveys of the product development process have been conducted. The Society of Actuaries (through the Marketing and Distribution section), LIMRA, and Deloitte have each engaged the industry in unique ways to explore the product development process for life and annuity companies. This session will provide unique insights and views of the speed-to-market imperative and product strategies gleaned from these surveys.

Targeted Value Ladder Stage:

Coordinator:

Session MAD02
Tuesday, October 16
2:30—4:00 p.m.

Session Sponsor: Marketing and Distribution

Product Filing Anxiety: Tips and Advice to Make Your Filings Less Painful

Moderator: Steve Konnath
Presenters: Katie Gurnett, president of the Association of Insurance Compliance Professionals, State Insurance Department Representative—TBD

Does your stress level go up when you think about filing a new product? Do you cringe when you receive a response letter from a state insurance department? Well, fear no more! We have brought the experts to you. You will hear from both the insurance company perspective as well as the state insurance department perspective. You will be shown industry best practices to improve the quality of your filings and reduce the amount of time it takes to get approvals.

Targeted Value Ladder Stage: Process

Coordinator: Steve Konnath

Session MAD03
Wednesday, October 17
9:00—10:15 a.m.

Session Sponsor: Marketing and Distribution

The Many Ways of Selling Insurance Through Banks

Moderator: Keith Dall
Presenters: TBD

Traditionally banks have sold life insurance to pay off loans at time of death. Today the market has expanded to selling life insurance in a variety of ways.

This session will address the following areas in bank insurance:

  • An overview of the credit insurance market and the impact of debt cancellation agreements.
  • Selling life insurance to the bank customers to reach the underinsured middle market.
  • Selling life insurance to the affluent bank customers including small business owners in the advanced sales market.

The goal of the session will be to describe the many ways that insurance companies reach out to bank customers. The bank distribution channel is a growing market and this session will assist actuaries in becoming more knowledgeable with the issues that are faced in this market.

Targeted Value Ladder Stage: Employer/Client

We look forward to seeing you there! More information is available about SOA ’07 Annual Meeting & Exhibit at www.soa.org. Registration opens the end of June 2007.