PIMA Insights Magazine - Spring 2022

nsights iinsights Issue 1, 2022

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President’s

LINKING OUR MEMBERS’

LINKING OUR MEMBERS’

Message

Kevin Garvin PIMA President

PIMA kicked off 2022 with Winter Insights and a return to in-person conferences— and what a turnout we had in Naples. It was great seeing many of you since our last in-person conference in January 2020 in Palm Beach, and from attendee feedback PIMA conferences continue to deliver great educational content and networking opportunities. At the heart of PIMA are the relationships and connecting face to face with friends and peers. I’m certain this year will be a pivotal one for members who want to reconnect with and build their PIMA network.

During these past two years, PIMA focused on leveraging the value of community. Whether it was through virtual and hybrid conferences, monthly webinars, or P2P advisory forums, PIMA continued to provide opportunities to engage with others in the community. As our lives begin to normalize and business travel begins to bounce back, I encourage PIMA members to continue with those virtual connections through our online member community.

With 500+ peers available to you 24/7, it’s the perfect way to stay connected in between conferences.

Continued on Page 4

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Perspectives on the Value of Embedded Insurance

7 INSIGHTS AWARDS Showcase your team’s talent by submitting your campaigns for Insights Awards

14 Just Right Customer Service: Digital Transformation in the Employee Benefits Space

IDEAS & EXPERTISE

IDEAS & EXPERTISE

PRUDENTIAL + ASSOCIATIONS MEETING FINANCIAL CHALLENGES Solutions that help members The Prudential Insurance Company of America has been partnering with Association/Affinity groups, brokers, and TPAs for more than 70 years, bringing robust services and innovative solutions to their members. Today, we provide coverage to more than 4.5 million members of association and affinity groups, which include national, state, local, and regional professional associations; medical, legal, educational, and trade associations, and unions.

As one of the leading providers of Group Insurance in the United States, Prudential provides a full range of group life, long-term and short-term disability, AD&D, as well as supplemental medical products. In addition to providing important protection solutions to members of Associations and Affinity groups, Prudential has full service marketing capabilities, a state of the art digital enrollment platform and accelerated medical underwriting processes that help take the friction out of the underwriting process.

A focus on Financial Wellness Financial Wellness Digital Portal Combines learning and financial tools with personalized content to help members improve their financial wellness Online Budgeting Helps members manage their day-to-day finances and budget on a single website

For more information, visit Prudential.com/associations Or contact Keith Schaub, Director, Association Sales, Association & Affinity Services, Group Insurance C 410-963-5198 Keith.Schaub@prudential.com

Student Loan Assistance Helps members choose the right repayment scenarios

Student loan assistance services are provided by Student Loan Benefits, Inc., doing business as Vault. Credit counseling and debt management services are provided by GreenPath. Vault and GreenPath are third-party providers that are independent from Prudential and its subsidiaries. They are provided through voluntary, individually selected programs that are not group insurance products and are not part of any employee benefit plan, or any program sponsored or endorsed by an employer.

Access to Vault student loan assistance services, GreenPath credit counseling and debt management services is provided through Prudential Workplace Solutions Group Services, LLC (“PWSGS”).

Prudential Workplace Solutions Group Services, LLC (“PWSGS”) provides access to a number of Financial Wellness products, services, seminars and tools offered by PWSGS, its affiliates or third parties.

PWSGS is an affiliate of Prudential Financial, Inc. PWSGS is not a licensed insurance company, does not provide insurance products or services and does not provide financial, investment or other advice. Individuals should consult appropriate professionals when making financial, investment and tax decisions. The Financial Wellness offerings are made available for general financial education purposes. Access to Financial Wellness products, services, seminars and tools is not conditioned upon the purchase of insurance or retirement products or services from any Prudential company.

Group Insurance coverage is issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. © 2022 Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc., and its related entities, registered in many jurisdictions worldwide 1057733-00001-00

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Executive Committee President Kevin Garvin Gallagher Affinity

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President-Elect Scott Berlin New York Life

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Treasurer Pamela Moy AMA Insurance Agency

Insights Awards Showcase your team’s talent by submitting your campaigns for Insights Awards. Submissions are due May 6, 2022.

Secretary Angela Daisy Value Group Direct, Inc. Past President (ex officio) Chris Burke AGIA Affinity Kelly Abeles Prudential

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At-Large Director Kara Shipulski Liberty Mutual

Just Right Customer Service: Digital Transformation in the Employee Benefits Space

Executive Director (ex officio) Ann Dieleman PIMA

FINEOS addresses the employee benefits space and how technology can help to break down the complex distribution/ service chains.

By Chuck Johnston

Directors Shane Canfield Worldwide Assurance for Employees of Public Agencies Sean Cox First Consulting & Administration Tracey Gray-Walker AVMA Trust Michael Guglielmo Fidelity Life Jean-Marie Lovett Bindable Avery Smith Kelsey National Corporation Committee Chairs Executive Committee Kevin Garvin Nominating Committee Chris Burke Finance Committee Pamela Moy Programming Committee Avery Smith Sponsorship Committee Kelly Abeles Insights Awards Committee Fred Hron PIMA Insights is the official publication of the Professional Insurance Marketing Association®

35 East Wacker Drive, Suite 850 Chicago, IL 60601-2106 817-569-PIMA (7462) pima@pimainsights.org pimainsights.org

Cover President’s Message

16 Working with the Enemy

PIMA President Kevin Garvin highlights 2022 Summer Insights, Legend Award.

Insurers have long leveraged an extensive network of agents and partners for sales and distribution, with a preference for partners that have little or no competitive overlap with the insurer. Now, those same companies are also collaborating with partners on integrated marketing and delivery models, joint product innovation, and customer support alliances.

5 Executive Director Message PIMA Executive Director Ann Dieleman highlights why leaders should embrace empathetic leadership now more than ever.

8-9 Savannah Hosts 2022 Summer 22-23 Winter Insights Conference Insights Conference Recap Join the PIMA community in Savannah, GA for three days of education and networking. Topics will include embedded research, cybersecurity, sales & marketing strategies, digital marketing, and legislative & regulatory updates.

10-12 Embedded Insurance PIMA sits down with Nicole Perrault, Head of Product and Propositions for iptiQ (a SwissRe subsidiary) and Mark Rieder, Head of Innovation at NFP to get their perspectives on the value of embedded insurance in the B2B2C distribution model.

25-30 Product Provider Spotlights 31 PIMA 2022 Sponsorship Opportunities

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President’s

Message (Continued from page 1)

We’re excited to host our Summer Insights Conference June 21-24 in Savannah, GA. Our meeting chairs have been busy planning educational sessions that address topics based on attendee feedback: digital marketing; product trends in both the L&H and P&C markets; findings from the PIMA-Majesco joint research project addressing embedded insurance; cybersecurity and the growing risks with the current global turmoil; navigating new regulations; and Insights Awards.

And of course, we schedule networking and business development opportunities throughout the conference to provide you with face-to-face opportunities. We’ve added a charity golf tournament to Summer Insights to offer even more ways to connect.

As we regain momentum in our industry, now is as good a time as ever to focus on the future while honoring our past and those individuals who have made the industry what it is today. I am pleased to announce that PIMA is reintroducing the Legend Award. PIMA’s most prestigious award was created in 1989 to honor Forrest T. Jones and recognize individuals who have distinguished themselves by contributing to the growth and excellence of the insurance marketing business. We will be soliciting nominations throughout the year and ask you to

Marketing

consider nominating an individual to join this list of esteemed past recipients.

• George H. BonSalle

• Forrest T. Jones

• James C. Boon II

• J. Thomas Koch

• Stanley T. Brooks

• Robert R. Koch

• Warren D. Gardner

• Charles C. Lawry

• Harvey J. Goodstein

• Richard L. Mize

• P. Allen Haney

• John W. Noonan

• Richard F. Jones

• Frank C. Tuttle

Lastly, I want to thank the PIMA membership for entrusting me with the privilege of serving as PIMA president. I am fortunate to be a longtime member who knows the value of this community, and I also work alongside a committed Board of Directors that is focused on organizational growth. I’d like to specifically thank Past President Chis Burke for his leadership and guidance this past year, and for successfully guiding PIMA through uncertain times.

Please let me know how PIMA can support you by emailing pima@pimainsights.org. I look forward to seeing you face to face this summer as we continue to make progress together.

You can reach Kevin Garvin at kevin_garvin@ajg.com

I Member Solutions I Administrative Services

Professional Liability

Savings and Discount Programs Personal and Commercial Insurance

Association Management and Compliance

Health and Wellness

Kevin Garvin President, Affinity - North America Arthur J. Gallagher & Co. 630.285.3802 gallagher-affinity.com 4

From the

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EXECUTIVE DIRECTOR Ann Dieleman PIMA Executive Director

March 11, 2022, marked the two-year anniversary since the World Health Organization declared COVID-19 a global pandemic, and while many health fears have subsided many Americans are no less stressed today than they were two years ago. A recent survey by the American Psychological Association shows stress levels at an “unprecedented” high with Americans juggling a multitude of new fears and stressors—from inflation, supply chain issues, invasion of Ukraine, and global uncertainty.

It’s a challenging time—and equally demanding for executive leaders to understand the impact mental health is having on business. The past two years have required leaders to become more adaptable, understanding, and caring.

A recent Catalyst research study of U.S. workers showed the impact of empathetic leadership as it relates to areas of innovation, engagement, retention, inclusivity and work-life balance. The study points out leaders who show up for their direct reports can have a reverberating effect companywide: “People on your teams and throughout your workplace are paying attention to your words and actions, even if they do not report to you.”

Since the start of the pandemic, PIMA has prioritized conference sessions addressing “people skills,” with leaders consistently delivering a resounding message—listen to your employees.

Listening can come in many forms: employee surveys, regular 1:1 self-care check-ins, being an active listener, and even sharing gratitude and empathy in emails.

In January, we heard Keynote Speaker Colette Carlson Colette talk about creating connection collisions to help build trust with employees.

These “collisions” are good business, Colette says.

“Connection builds trust, trust builds relationships, and relationships drive revenue and results.”

In her session “The Connected Leader,” Colette shared tips for how executive leaders can show up for their employees when burnout is at an all-time high. Colette encourages leaders to follow these three connection strategies:

1. Lead with Warmth – A leader’s ability to influence another individual is directly related whether an employee respects and trusts you.

2. Awaken their Awareness – People don’t connect with who they think you are; they connect with the impact you have on them.

Leaders need to trust their teams—remote teams included—and your teams will return that trust.

3. Be Human Highlighters – A strong leader brightens the room when they enter not when they leave. They accentuate the good in their team members and make them feel seen and heard.

Today, executive leaders play an integral part in creating positive impact on their teams’ emotional wellness. How are you showing up for your employees and creating a connected workplace?

You can reach Ann Dieleman at ann@anndieleman.com

Mark PIMA on

YOUR SAFE SENDER LIST Are you receiving PIMA electronic communications? Are you receiving your weekly Community Digest? Please be sure to mark pima@pimainsights. org and @ConnectedCommunity.org on your safe senders list.

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INSURANCE INVESTMENTS RETIREMENT

We’re all With flexible financial protection solutions designed to help association members, Securian Financial is wholeheartedly here for families when they need us most.

Learn more about how we can we help you.

Visit securian.com

Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries.

Securian Financial Group, Inc. securian.com 400 Robert Street North, St. Paul, MN 55101-2098 ©2022 Securian Financial Group, Inc. All rights reserved.

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F97249-1 4-2022 DOFU 4-2022 2056576

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2022 Insights Awards Showcase your team’s campaigns by competing in the PIMA Insights Awards. These annual awards recognize PIMA members for their outstanding achievements. Has your team rolled out a successful campaign or product in the last year? If so, this is a prime opportunity to recognize your team’s talents and accomplishments with the PIMA member community.

Gold, Silver and Bronze placements will be awarded based on scores earned in each of the three areas below.

All Gold award winners are automatically entered into consideration for the annual Best of PIMA Award.

• Results (50%) • Strategy (25%) • Creative Execution (25%)

Categories Include: 1. Lead Generation 2. Solicitation for Guaranteed-Issue/Simplified-Issue Product 3. Solicitation for Underwritten Product 4. Customer Cross-sell and Upgrade Marketing 5. Conservation/Retention 6. Self-Promotion/Branding/Awareness Submission Deadline extended to May 6.

Integrity, humanity, and financial strength when they’re needed most.

These days, stability, service, and relationships you can count on mean more than ever before.

And while the future will always be uncertain, you can be sure of one thing: New York Life is built for times like theseSM.

Learn how you can build your future with us. Let’s talk today.

Dan O’Brien

Sales and Account Services 914-846-3345 dobrien@nyl.com newyorklife.com/groupmembership

Highest in Customer Satisfaction among Group Life Insurance Providers according to J.D. Power 2021 Award.

Tied in 2021. For J.D. Power 2021 award information, visit jdpower.com/awards.

AR10149_022022 SMRU 1866079 © 2022 New York Life Insurance Company, 51 Madison Avenue, New York, NY. All rights reserved. NEW YORK LIFE, the box logo, and BUILT FOR TIMES LIKE THESE are registered trademarks of New York Life.

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June 21-24, 2022 The Westin Savannah Harbor Golf Resort & Spa Savannah, GA

We are pleased to offer event cancellation insurance for the Summer Insights Conference from Buddy Insurance. Purchase within 48 hours after registering.

PIMA Summer Insights Conference Keynote Speakers Keynote Address – Are You a Leader or Follower in the Affinity Market?

Denise Garth Chief Strategy Officer Majesco Ann Dieleman Executive Director PIMA

The traditional B2B2C affinity and program business concept offers insurance products through noninsurance or non-financial organizations such as associations, non-profits, employer groups, and more. However, today’s buyers do not necessarily associate with some of these traditional groups and look to buy insurance through other means such as Gig Economy groups, health and fitness organizations, large retailers, auto manufacturers and more – where the purchase is part of strong relationship or buying transaction they are doing.

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This year Majesco and PIMA teamed up for a second joint research project focused on answering the following questions: What distribution programs are being used? How do they align to what customers are expecting? Are companies expanding out to new, innovative embedded models? Which level of embedded are companies using today? What are companies plans over the next 3 years?

The future of embedded insurance is upon us and companies must determine how they will participate to meet customers when and where they want to buy insurance. Hear about the research findings, evolving customer expectations and how peer organizations are expanding product and distribution partner options to help you shape your strategy.

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Keynote Address: The Trusted Brand: How Your Organization Can Become the Trusted Voice in a Noisy, Busy World

Marcus Sheridan President/Partner Marcus Sheridan International

The Information Age is in full swing, and winning buyer trust has never been more critical. The reality is that brands can no longer expect traditional methods of marketing and sales to win customer interest and build loyalty.

One of the essential keys to gaining the trust of today’s digital customer is by becoming their go-to source for helpful, useful information. Businesses and brands that focus more on teaching and helping than on selling, will ultimately win customer trust, gain an incredible amount of market share, and generate more revenue in the process.

In this program, attendees will: • Discover how buying habits have changed and why name recognition is no longer enough.

• Learn how transparent and honest content will move customers to notice new brands – and switch to them.

• Find out exactly what must be done to become the voice of trust in your space in the years that lie ahead.

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P2P Advisory Forums June 22, 2:30 p.m. – 4:00 p.m.

PIMA members will definitely want to take advantage of this unique member benefit and plan their travel to the upcoming Industry Insights with the forums in mind. The forums give you an opportunity to share thoughts and ideas with other executives and partners across the industry specifically focused on the unique topics most relevant to your member type.

Agency CEO – Invitation Only CEO forum attendees have greatly benefitted from the new tools, techniques, and resources shared as best practice insights by fellow CEOs. Making these sessions even more valuable has been followon conversations in subsequent CEO forums by attendees who’ve actually implemented some of them. If you have specific topics you would like to address, please contact Chris Burke at CBurke@ AGIA.com.

Voting member + 1 per member company (2 per member company) are invited to attend the peer forums.

Business Partners If you have specific topics you would like to address, please contact Patrice Nolan at patrice@ competiscan.com.

Distributors

Networking and Business Development 10+ available hours to network, meet peers and build relationships, including: • Welcome Reception • Charity Golf Event sponsored by • Networking Breaks

If you have specific topics you would like to address, please contact Jean-Marie Lovett at jmlovett@ bindable.com.

Product Providers If you have specific topics you would like to address, please contact Kara Shipulski at kara.shipulski@ LibertyMutual.com.

• Poolside Event • Insights Awards & Recognition Celebration

Visit the Summer Insights Conference Website for a complete agenda.

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Perspectives on the Value of

EMBEDDED INSURANCE Nicole Perrault Head of Product and Propositions iptiQ Mark Rieder Head of Innovation NFP

In this feature article, PIMA addresses embedded insurance and its increasing traction as consumer demands and expectations for more options continue to rise.

PIMA recently sat down with Nicole Perrault, Head of Product and Propositions for iptiQ (a SwissRe subsidiary) and Mark Rieder, Head of Innovation at NFP and asked for their insight into how affinity businesses (B2B2C) can embrace this distribution model and what key strategies carriers and agencies should consider in growing product lines and distribution.

1.

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channels. Our purpose is to allow trusted brands to harness our platform to make the world a safer place. iptiQ is an insurance carrier that is built for embedded insurance, natively b2b2bc and backed by one of the most stable balance sheets on the globe.

Rieder: NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement and individual solutions.

PIMA: Can you tell the PIMA community a little about yourself, your companies, and your background in the insurance industry?

As Head of Innovation, I help develop and institutionalize the innovation process for NFP both inside and outside the organization. As a catalyst for “what if” thinking I focus on helping our practice areas re-think their processes to adapt to the changing needs of the customer and the market in general.

Perrault: I’ve enjoyed gaining experience at a wide variety of insurance focused organizations, from specialized to traditional and high touch to highly automated. My background is rooted in actuarial and risk management disciplines. I use these skills combined with my creativity to design unique and scalable offerings. Currently at iptiQ I focus on building out insurance products and value propositions for our distribution

Having served in the employee benefits industry for over 25 years, including nine years as CEO of a leading employee benefits consulting firm based in the Philadelphia area, I joined NFP’s corporate team in January 2010 to launch the company’s national benefits administration and HRIS consulting practice. In 2018 I took on my current role to assist in launching NFP’s Innovation efforts and driving our Digital Transformation Strategy.

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2. To help level set, can you share insight into the difference between affinity distribution and embedded insurance?

Perrault: Affinity distribution insurance has been around for a while and focuses on connecting unique distribution channels to the insurance market. Affinity distribution is mutually beneficial, the insurance company is able to leverage the brand equity, marketing capabilities, and loyal customer base. The affinity partner is able to gain access to an insurance product sales and service journey that their customer base needs. Think about going to buy a specialty car and getting referred to an insurance broker who has access to a product with price and coverage recognizing your driving behaviors and loyalty when determining your quote.

Embedded insurance is about changing reality.

It is about making the buying of the insurance seamless and secondary. The first movers in this space focused on embedded insurance being process driven using data and technology. Think about buying a specialty car through a website where your car purchase and consumer data automatically route and enable the insurance checkout process to be seamless.

The next frontier for embedded insurance is placing the product at the apex of the buying experience.

Think about leasing a car and having the car automatically insured along with a subscription that covers car maintenance and other ownership services. This value-added service makes the customer experience holistic more adhesive.

Rieder: Let me start by saying that I realize that meaning can vary a great deal based on context.

That said, when I think of Affinity distribution I think of mass marketing to a large group of individuals where the common thread between those individuals is the affinity group itself, typically organized by industry or profession, and the products that are marketed to the group are those that may, or may not, have a contextual tie to the industry or profession as a whole. Affinity marketing is more equivalent to a shot gun approach and success is based on the law of numbers.

In contrast, embedded insurance is personal, specific, and calculated. It is bringing an insurance product in to the application or buying process of another non-insurance related product where there is a contextual link between

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the product being purchased and the insurance product being offered. Successful embedded insurance meets a buyer in the moment and is pin pointed.

3. PIMA: How can embedded insurance unlock new value of affinity distribution streams?

Perrault: With open-mindedness and product creativity, embedded insurance can bring new verticals into insurance. I get excited thinking about companies involved with educational institutions, gig economy, or personal consumer products that are beginning to tap into a modern generation’s current and future risk protection.

Existing markets can expand by moving from affinity into embedded like options. A successful example of this is the home building and servicing vertical. No stranger to home insurance in the sales process, companies are working with carriers to expand embedded insurance in a technology driven way and are extending warranty and service packages. Let’s add embedded life and other financial protection insurance to this package to round out the consumer protection.

Rieder: I am not sure whether or not this would be considered “new value” but, to my earlier point, if affinity groups put down the shot gun and picked up the riffle they might find more success. If they were able to use the data they maintained on their membership to bring products to the members of the affinity group in a more personalized way, and meet the members when they have a need, the conversion ratio would improve and revenue stream will increase.

4. PIMA: Who has the greater amount of risk in the embedded distribution model, the agency, the distribution partner, or the carrier? And what can each do to minimize overall risk?

Perrault: Ultimately the carrier. In addition to the underwriting loss risk, liquidity and inflation risk, regulators require the carriers to also take conduct risk and the credit risk of their counterparties.

Additionally, there is operational risk that exists from servicing the policy and customer well beyond the sale (i.e., billing to claims).

There are examples of programs run by highly capable Agencies or MGAs that do reduce some of these risks to the carrier but generally regulators will turn to the insurance company when things go wrong.

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Rieder: Perhaps it’s where we spend our day to day that brings a different perspective but I actually believe the agency is most at risk...for now.

First, I truly believe that with every risk/threat lies an opportunity. IF agencies and carriers embrace this new model of distribution, and really study how it works, it can become a great new revenue stream for them. That said, if they, don’t then both are at risk.

Early days it is the agencies that are most at risk as the non-insurance entity offering the coverage could look to disintermediate them by connecting their buyers directly with a carrier/product. The non-insurance entity that is embedding the coverage is in no position to build their own product and so they will be reliant on a carrier.

However, over time, the non-insurance entity will begin to accumulate data and could look to assume more risk ....leading to potential disintermediation of the carrier. We have already started to see signs of this in a few different industries.

5. PIMA: What should my company consider before identifying partnering opportunities in embedded insurance?

Perrault: Truly, embedded insurance requires partners dedicated to the long-term strategy with the distribution partner investing more time and effort than in historical affinity groups. Partners need to show patience and commitment. It is not a “set it and forget it” arrangement. The need for compliance oversight can be amplified in these innovative solutions, so it is important to maintain a transparent working relationship, with routine processes for governance.

Therefore, embedded relationships tend to work better when a partner is looking for more than just a revenue stream. It works best when the partner considers how insurance builds deeper relationships to their customers and adds strategic and growth value to their original companies’ proposition.

Rieder: Agree 100% with Nicole, patience and commitment are critical. But I would say, even before you get to that point, you need to ask yourself whether or not you have the technical capabilities to play in the space.

The embedded insurance opportunity is a digital one focused on user experience so you need to 12

have a platform that allows the user to proceed through the rate/quote/bind process in a selfservice, frictionless way—and IF an agent is required to complete one of the tasks in the buying process then the experience is omni-channel.

It is also extremely important that your platform has API capabilities since the optimal user experience is reached when a) the data requirements for the product being sold are enriched with data from the native platform (the less data for the user to need to provide the better) and b) the workflow takes place within the native application as much as possible.

6. PIMA: Let’s end on a light note, if you could add embedded insurance into any product, what would it be and why?

Perrault: One of my family’s favorite hobbies is to drive vintage cars to adventurous places.

An embedded auto product covering all our lifestyle risks would do us wonders. However, on a professional note, I feel passionate about the need for more access to flood insurance. It continues to be sold mostly stand-alone and is plagued by low take-up, leaving many consumers, financial institutions, and local governments exposed to risk. Embedding flood insurance coverage into home ownership solutions could close this protection gap for the greater good.

Rieder: I truly believe that we are in inning one of a nine inning embedded insurance ball game. Technology has changed the game, and anything is possible. So I am not sure I am overly excited about sharing my big “what if” idea in fear that someone will take the idea and make it happen. Joking not joking. What I will say is the opportunity is not just to match an insurance product that can be embedded into another product BUT to find new problems to solve for and create new products to address the need. You are starting to see it now and I can only imagine it will continue to grow. For example, the offering of “content protection” for a night out on the town offered at check out of your rideshare. These type of “micro” products would never have been able to be distributed prior to the development of the mobile device, ride share, and APIs. Think about it, it’s not a product that you would ever consider buying in advance, it has to be in the moment…and last I checked an insurance agent wasn’t riding copilot in the rideshare.

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Just Right Customer Service:

DIGITAL TRANSFORMATION IN THE EMPLOYEE BENEFITS SPACE Chuck Johnston Chief Marketing Officer FINEOS

The Employee Benefits (EB) space has one of the most complex distribution/service chains found in the insurance industry. Insurers across all segments have wrestled with the question “Who is the customer I am serving, and what is the right service strategy?” Beyond the usual debate of serving the actual insured versus serving the broker, there are two critical additional questions: 1. Is the customer the employer or the employee?

2. How does defining the customer impact service strategies?

Understanding a Multilayered and Complex System A complete benefits plan for an employer often includes multiple products provided by multiple insurers. Add to the EB value chain the extra layer 14

of support provided by enrollment companies, third-party administrators, benefit administrators, and various other advisors that provide specific services around education and training.

When you break this distribution/service chain down and look at the customer service interface points by role and function, it becomes apparent that it’s a very complex process. The specific business and technology requirements vary greatly.

With that, the depth of interaction varies by role but is also impacted by the stage of the policy lifecycle.

Employers tend to focus heavily on plan market equity for employee recruitment and retention, plan costs, and the level of effort they will need to provide service over the year versus the insurer/ broker. Often, benefit administrators come into playwhen there is a large disparity between what the employer can support and what the insurer/ broker can provide or if the plan portfolio includes several insurers for specialty products.

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Until recently, employees focused little attention on choosing their benefits, with 90% of their effort spent on picking major medical health plans. The service they needed most was plan education and access to easy enrollment processes. Today, with the advent of Voluntary Benefit products, employers now provide employees options that extend financial coverage beyond major medical (long-term care or accident coverage as examples).

Because the employee bears the cost, they require a lot more education and custom advice to help them make decisions.

Claim time is interesting in that many layers fall away, and it is almost always the employee working directly with the insurer to settle claims. EB claims can be a cumbersome process because not only has the claimant suffered a loss, but the very nature of the claim can be debilitating. Therefore, in some ways, this can make the claim filing process difficult.

This results in the claimant requiring additional support—adding another layer of complexity.

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digital exchanges, smarter digital connections that understand and can translate differing data formats, and the implementation of enhanced industry standards such as the LIMRA LDex standard for Employee Benefits.

Decision Support and Machine Learning Decision support is critical in the new digital EB landscape to support employees, employers and others in making good decisions at critical times in the process through the use of machine learning. A lot of advancements have been made to use machine learning to support rate, quote and underwrite functions for the broker, as well as in claims fraud detection and propensity to buy models for insurers.

Support for employers and employees are in early stages but strong strides are being made here, too.

For employees, there is an opportunity to provide better service across the policy lifecycle.

Connectivity

We are still not ready to have Siri or Google Assistant pick our benefits for us, but machine learning tools are helpful in tailoring information and advice on the front end of the benefit selection process, especially if there is access to a system like your personal assistant that has data about your lifestyle. Insurers today use personal devices to do health monitoring as part of some customer programs, but many consumers see these programs as negative to their interests. Turning the process around to help employees make the best decisions in a way that doesn’t violate privacy or trust is achievable with new technology.

Electronic connectivity between insurers and brokers predates the commercial Internet, using expensive dialup communications with x.25 protocol and proprietary programs. Today connectivity infrastructure is ubiquitous, consumers expect self-service, and the challenge is not making the connection but using it effectively. Driven by the high bar set by direct digital service, insurers are upgrading legacy policy administration and claims systems to support real-time processing as well supporting the large variety of new Voluntary products available.

At claim time, many EB claims can be settled automatically if the right information is available, and the employee has provided the needed permissions. Due to privacy regulation, giving prior permission to use personal data in new ways requires work across the value chain to ensure employee get the value of frictionless service and straight through processing. There are some markets today where claims are paid automatically for accident injuries with the individual receiving a text notification of a payment and number to call if there is a problem.

Distributed Process

The Employee Benefits industry has been buffeted by regulatory, financial, and social changes over the last few years that requires digital transformation to meet the needs of a rapidly changing landscape.

The good news is the technology is available and insurers are rising to meet that challenge.

Disentangle the Complexity with Digital Transformation As you can see from the complex relationships in the EB value chain, connectivity, distributed process, and decision support are the key elements to address in a digital transformation strategy.

Fortunately, modern business and consumer technology provide options never before available to insurers and their partners.

Advanced connectivity and heightened employee participation requires improved coordination of processes across the entire value chain. This process improvement requirement is driving more

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Working

WITH THE ENEMY JESSICA WADD Partner Vantage Partners SAM STEWART Engagement Leader Vantage Partners

About Vantage Partners Vantage Partners is a global consulting and training firm. We help our clients address their most important challenges and opportunities—especially those that cross organizational silos and span industry ecosystems. Our consulting work includes helping companies accelerate growth and respond to competitive threats through external innovation, organic and inorganic growth strategies, and indirect sales strategies that leverage channel and distribution partners.

Vantage Partners works with companies across industries including financial services, biopharmaceuticals, healthcare, energy, media, medical devices, professional services, technology, and software.

Companies are working with competitors more than ever before. According to research we conducted last year, 75% of companies compete with their business partners some or a great deal. Shifting consumer demands and new digital solutions have been transforming the insurance industry in recent years, and many firms have leaned into the disruption. Insurers have long leveraged an extensive network of agents and partners for sales and distribution, with a preference for partners that have little or no competitive overlap with the insurer. Now, those same companies are also collaborating with 16

partners on integrated marketing and delivery models, joint product innovation, and customer support alliances. Hiscox partners with the AIenabled platform company NOW Insurance to improve distribution of medical malpractice insurance. Uber works with digital MGAs to make it easier for their drivers to select and purchase insurance. Intel now offers business insurance through its Quickbooks product. Over the past five years, the number of business relationships between insurtech and traditional insurance companies has grown by 298%.

Can collaboration with competitors work?

All of this collaboration is likely to benefit the companies involved. In a 2021 study on innovation practices, Vantage Partners found that companies that report that most or a great deal of their innovation comes from collaboration with third parties drive nearly twice as much revenue growth as those who do not. In a separate research study conducted in 2020, we found companies that rely primarily on internal assets and capabilities underperform their peers both in stock price growth and revenue growth.

Why do so many coopetitionbased partnerships fail?

If past patterns hold true, 50 – 60% of today’s partnerships across the insurance industry will fail.

Why? Because the challenges of working across company lines and dealing with competitive tension will prove too difficult for many teams.

And, unlike many other business disciplines, our research indicates that companies are unlikely to improve their success rates simply through increased experience. We have been unable to find any statistical relationship between the extent to which companies report engaging in collaboration with competitors and being effective at managing coopetition.

What separates the winners and the losers?

Is it merely luck or perseverance? No. While companies that are effective at managing coopetition-based partnerships employ different business models and strategies, they are united by a similar mindset. Rather than viewing collaboration with competitors as a last resort, they view it as a pervasive feature of business relationships and a challenge that can be systematically managed (see Figure 1).

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Contrasting Coopetition Mindsets

Ironically, it turns out that companies who fear coopetition and turn to it as a last resort actually create conditions for failure. Leaders at these companies often enter coopetitionbased partnerships out of desperation or from a position of weakness, set vague or unrealistic expectations, and attribute problems to a lack of good-faith collaboration by their partners. They are frustrated by differences and disagreements with their partners, instead of the reason both companies are stronger through working together.

By contrast, companies who are comfortable with coopetition enter their partnerships from a position of strength. They take time to explore differences with partners, ensuring that differences are understood, respected and valued.

And they put governance systems in place to manage differences systematically.

While most companies across the industry have embraced the need to work with competitors in new ways, not enough have made the mindset shift necessary to ensure the success of these collaborations. Fortunately leaders can employ practices that make success more likely. These include: 1. Modifying strategic planning processes to require an evaluation of collaboration with competitors for every major initiative

4. Regularly reviewing the portfolio of partnerships, with an expectation that each year some will fail, and some will reach a major transition point

Not just surviving, but thriving The insurance industry is at an important inflection point. The industry is growing at a rapid pace.

Customer needs and expectations are shifting.

New opportunities and competitive threats are emerging from adjacent, and non-adjacent markets. Leaders who view this environment as zero-sum, where anything that benefits a competitor harms themselves, allow fear and frustration to shape their thinking and blind them to scenarios where collaboration with competitors can deliver mutual benefit. Alternatively, leaders who embrace the disruption of the current ecosystem and assume a competitor’s advantages can also benefit them can expand their strategic options and improve their ability to capture and maintain a strong market position.

Vantage Partners coopetition research, 2020.

CBInsights, Insurtech partnerships report, May 2021 3 Vantage Partners research on innovation, comprising 165 responses from more than 150 companies, June 2021.

4 Vantage Partners coopetition research, 2020.

5 Vantage Partners State of Alliance Management research, 2022.

6 Vantage Partners coopetition research, 2020.

1 2

2. Developing measurable goals for each partnership, and reality-testing those goals by comparing them against internal initiatives 3. Establishing a quarterly process to assess challenges with coopetition-based collaborations and develop remediation plans 17

At Amalgamated Life Insurance Company,

Our Customers Always

Come in First.

All members are not the same, but they share one thing.

An affinity toward their organization.

The one they belong to.

The group that shares their passion.

Meeting the Needs of Affinity Groups with High Quality Benefit Solutions.

Winners aren’t born. They develop with discipline, knowledge and a steadfast commitment to their goals.

In 1943, Amalgamated Life Insurance Company was created to meet the needs of working people and their families. Today, we remain dedicated to affinity groups and their members in achieving financial security by providing affordable benefit solutions, while maintaining an unwavering commitment to excellence, as evidenced by our 45+ years of consistent A.M. Best “A” Ratings (Excellent).

For more than 60 years, AGIA has served as the marketing and administration partner to some of the country’s largest and most iconic associations and organizations.

A Winning Line-up Amalgamated Life is recognized for its financial stability, customer service and portfolio of competitive group and voluntary benefits.

Benefit Solutions—Keeping Pace with Today’s Needs • Accident • AD&D • Critical Illness

• Disability • Group Life/AD&D • Hearing

• ID Theft • Legal • Portable Term Life

• Whole Life Insurance

For product information please contact Mike Schaefer, Vice President, Strategic Partnerships: mschaefer@amalgamatedbenefits.com | 914.539.6347

For more information contact:

G. Scott Whitaker, Senior Vice President, Business Development

333 Westchester Avenue, White Plains, NY 10604 866.975.4089 www.amalgamatedbenefits.com

SWhitaker@AGIA.com ▲ (C) 615-496-7803 ▲ www.AGIA.com

®

Group • Stop Loss • Voluntary

Amalgamated Family of Companies

64595 ©2022 AGIA

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Amalgamated Life Amalgamated Employee Benefits Administrators Amalgamated Medical Care Management Amalgamated Agency AliGraphics s

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2/23/21 9:52 AM

amwins.com

2/18/22 12:28 PM

Premier solutions for benefit providers, brokers, associations and association members.

As a leading third-party administrator for insurance carriers, brokers, associations and association members, Amwins serves as a product developer, distributor and marketer with capabilities spanning from marketing, enrollment, policy issuance and fulfillment to billing, collections and customer service. Amwins handles all the details so you don’t have to.

Why partner with Amwins?

25+ Years Administrative Experience Tailored Benefits

|

|

Turnkey Programs

Market Relationships

Bring on the future – we’ll cover it.

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Lend Your Time

AND TALENTS TO PIMA PIMA is a member-based organization with a strong community of volunteers who help advance PIMA’s mission. We appreciate the time, talent, and commitment of our volunteers. Volunteering for leadership roles within an association can be a great way to further develop your skills and network— benefitting you both professionally and personally.

Through volunteering, you can: • Contribute to PIMA and the industry • Network with industry peers and thought leaders • Collaborate with peers There are several ways to get involved in 2022.

Click below to see what might be a good fit for your time and talents.

Get Involved Today!

DISCOVER FARMERS® AFFINITY Benefit programs that go the extra mile Farmers offers your members a broad suite of products that can help make your group more attractive to the people who make it successful. Our customer-focused solutions include auto, home, motorcycle, and even boat insurance. Contact us today to find out about all that we have to offer.

To learn more, contact Lance Dordick, Head of Farmers Affinity at lance.dordick@farmersinsurance.com or call 908-963-7933.

For more than

75 years

WAEPA has been insuring the future of Federal Employees with Group Term Life Insurance.

As a non-profit formed For Feds, By Feds, we understand what it takes to help provide peace of mind.

Visit waepa.org to learn more.

WP-FDR-0001

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Welcome PIMA’S

NEW AND REINSTATED MEMBERS

PlanSource Partners Directly With You Powerfully simple benefits management for brokers, TPA’s and Consultants

How does your insurance program size up?

In the world of insurance, one size does not fit all. That’s why Alliant Insurance Services offers a comprehensive portfolio of insurance products and administrative services designed to fit your needs.

It’s a tailored approach that will keep your bottom line looking sharp.

• • • • • • •

Property and Casualty Employee Benefits Consulting Voluntary Benefits Administration COBRA Administration Workers’ Compensation Financial Products and Services Association/Union Benefit Administration

David Hudon 203.568.8229 dhudon@alliant.com

© 2020 Alliant Insurance Services, Inc. All rights reserved.

Alliant Employee Benefits is a division of Alliant Insurance Services, Inc. CA License No. 0C36861

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PIMA Hosts 2022 Winter Insights in Naples More than 200 attendees gathered in Naples, FL for PIMA’s first face-toface meeting in two years. Attendees reconnected with friends and made new connections throughout the three-day meeting. The Conference offered many networking opportunities for attendees and brought experts and insightful discussions to the mainstage.

Speaker Highlights The Cake & Arrow team kicked off the conference with findings from their recent exploratory research around employee behavior. In their keynote, “Growing Business through Human-Centered Insights,” Josh Levine, Kate Muth, and Emily Smith Cardineau shared findings on the changing working environments as a result of the pandemic, with a focus on the “laptop professionals”—or remote workers, and what they wanted from their employers. Overall, many people felt work had becoming all consuming, with work-life balance becoming a priority and many people wanting the option to work from home and a strong desire for autonomy in the workplace.

Kelly Abeles of Prudential moderated a panel with Mark DeBoer of Darwill and Shane Canfield of Worldwide Assurance for Employees of Public Agencies sharing insights into “The Trends and Challenges to Marketing to Associations.” This session highlighted the benefit of getting good data. Shane pointed out the importance of working with the right lists to ensure you’re reaching the right people. Mark stressed the need to be open to testing and trying new approaches with direct marketing strategies.

Julia Jacobson of Arent Fox discussed the growing number of privacy concerns. In her presentation, “Privacy and Cybersecurity: What Happened in 2021 and What’s Ahead?” Julia drew the distinction 21

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between privacy and cybersecurity: privacy protects people; cybersecurity protects information.

Julia stressed the importance of investing in cybersecurity, highlighting that ransomware breaches cost an average of $4.62 million.

In the session, “Insurtech Companies—How They Quickly Became Leaders in Our Industry,” a panel of insurtech companies addressed the ever-evolving technology in the insurance industry. Panelists Andy Allsopp of Afinium, Bill Conners of Formotiv, an Wade Seward of Haven Life shared with moderator Ann Dieleman of PIMA some best practices as it relates to maneuverability and innovation: Embrace an agile mindset; create efficiencies; check assumptions through testing; have a proof of value in place; and include diverse employee backgrounds in your teams.

Cassie Larson of Bindable moderated a session about the importance of partnerships in the session, “Affinity Partnerships—How Do You Create and Sustain Them?” Panelists John Conlon of Costco and Derek Thomas of Galway Strategic Solutions shared insight regarding the relevancy partnerships the digital age. They both stressed the importance of collaboration, stressing those value-added partnerships are key and understanding how the partnerships will be of long-term value.

Closing Keynote Speaker Colette Carlson addressed the importance of building natural “connection collisions” in her session, “The Connected Leader.”

Colette encouraged leaders to show up for their employees, and these “collisions” help to build trust with one another and are essential during the changing work environments. She added, trust begins when leaders care more about their employees than their own agenda.

Special Recognition Outgoing PIMA President Chris Burke awards three members with the Presidential Distinguished Service Awards:

Golf Tournament Winners Closest to Pin

Longest Drive

Placements

Alisha Leavelle - 9’10”

Margaret Lett - 218 yds

Steve Weber - 9’0”

Steve Bruder - 288 yds

1st Place – Sam Diphilippo; Phil Hennig; Richard Lett; and Margaret Lett 2nd Place – Gary Hickey; Dennis Dietrich; Paul Andres; and Robert Winland 3rd Place – Thomas Bohde; Steve Weber; Keith Schaub; and Derrek Barfield

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Join the world’s largest gathering of insurance leaders and innovators at ITC Vegas, September 20 - 22 at Mandalay Bay in Las Vegas. This dynamic event offers unparalleled access to the most comprehensive and global gathering of insurtech innovators, investors, and insurance industry incumbents. You don’t want to miss out!

This three-day event features world-class content, networking, meetings, a dynamic expo hall with the latest insurtech innovations, breakfast, lunch, kick-off party, daily receptions, and closing party with headline musical talent. Main stage and breakout session themes, tracks and speakers will be released soon, so keep an eye out for those exciting details.

Register today using this promo code to receive $200 off your ticket!

Learn More Register Here >> Enter promo code: 200ITC509

Partnership that helps provide protection and peace of mind.

We partner with you to provide expertise, guidance, and member benefit plans that can help your clients’ members guard against the unexpected and be better prepared to face the future.

Aon Affinity custom designs insurance programs for associations and a variety of affinity groups.

Our proprietary data and analytic insight are powerful tools which keep our partners better informed and better advised.

We help more than 300 sponsor partners meet the unique needs of their members, customers and affiliates, every day.

Aon Affinity employs a blend of digital and traditional direct arketing, e-commerce, and social media to attract, engage, and retain customers.

We’re in the business of better decisions.

1.877.256.6215 | www.aon.com/affinity

Discover MetLife’s comprehensive benefit solutions Offering your members a broad suite of products can help keep members engaged.

Our customer-focused solutions include: Term Life | Accidental Death & Dismemberment | Disability | Dental | Vision Business Overhead Expense | Legal | Pet | and more To learn more about all that we have to offer your clients and their members, contact Paul Piechnik, Vice President of Sales, at ppiechnik@metlife.com or call 908-253-1010.

Like most insurance policies, insurance policies offered by MetLife and its affiliates contain certain exclusions, limitations, exceptions, waiting periods, reductions and terms for keeping them in force. A MetLife representative can provide you with costs and complete details.

Insurance products and services provided by Metropolitan Life Insurance Company and its affiliates.

Certain claim and network administration services for vision coverage are provided through Vision Service Plan, Rancho Cordova, CA (VSP). VSP is not affiliated with Metropolitan Life Insurance Company.

Group legal plans provided by MetLife Legal Plans, Inc., Cleveland, Ohio. In certain states, group legal plans are provided through insurance coverage underwritten by Metropolitan General Insurance Company, Warwick, RI. Some services not available in all states. No service, including consultations, will be provided for: 1) employment related matters, including company or statutory benefits; 2) matters involving the employer, MetLife and affiliates and plan attorneys; 3) matters in which there is a conflict of interest between the employee and spouse or dependents in which case services are excluded for the spouse and dependents; 4) appeals and class actions; 5) farm and business matters, including rental issues when the participant is the landlord; 6) patent, trademark and copyright matters; 7) costs and fines; 8) frivolous or unethical matters; 9) matters for which an attorney client relationship exists prior to the participant becoming eligible for plan benefits. For all other personal legal matters, an advice and consultation benefit is provided. Additional representation is also included for certain matters. Please see your plan description for details. MetLife® is a registered trademark of MetLife Services and Solutions, LLC, New York, NY. Metropolitan General Insurance Company (“MetGen”), a Rhode Island insurance company, headquartered at 700 Quaker Lane, Warwick, RI 02886, is the insurance carrier for this product. Availability across all 50 states is subject to pending regulatory approvals. MetLife Pet Insurance Solutions LLC is the policy administrator authorized by MetGen to offer and administer pet insurance policies. This entity was previously known as PetFirst Healthcare, LLC and in some states continues to operate under that name pending approval of its application for a name change. The entity may operate under an alternate, assumed, and/or fictitious name in certain jurisdictions as approved, including MetLife Pet Insurance Services LLC (New York and Minnesota), MetLife Pet Insurance Solutions Agency LLC (Illinois), and such other alternate, assumed, or fictitious names approved by certain jurisdictions.

Application is subject to underwriting review and approval. Like most insurance policies, insurance policies issued by MetGen contain certain deductibles, co-insurance, exclusions, exceptions, reductions, limitations, and terms for keeping them in force. For costs, complete details of coverage and exclusions, and a listing of approved states, please contact MetLife Pet Insurance Solutions LLC.

Metropolitan Life Insurance Company | 200 Park Avenue | New York, NY10166 L0121010559[exp0123][All States][DC,GU,MP,PR,VI] © 2021 MetLife Services and Solutions, LLC

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Product Provider

SPOTLIGHT About Us

Arch Insurance’s business stands on the five pillars below, which combine to create a strong, robust accident and health division. Combined, these support us in our goal to become a valued, trusted provider of innovative and highly relative products to our customers. We do this by forging sustainable relationships through a digital experience with superior service and specialized capabilities.

1. Exceptional Customer Service Our customer service team is regularly recognized for their outstanding support. In recent years, we won three American Business Awards®, two Stevie® Awards for Sales and Customer Service, and a Money.com recognition for the Best in Customer Service and Support.

2. Product and Service Innovation Working with our underwriting and actuarial teams, we have the capability to design and deliver products and solutions that fulfill your requirements.

We are on the forefront of insurance technology for accident and health products and continue to lead the way into the future.

3. Strategic Distribution We have the people, processes and platforms to handle a variety of different distribution scenarios, ranging from the program relationship to broker relationships to direct to the customer. Our distribution relies on our technology and our experienced team to help our partners succeed.

4. Industry Leading Talent The Arch Accident and Health team is made of industry veterans who have the knowledge and experience to provide you with proven solutions. Our 24

leadership team averages 20+ years in the industry, and we have been recognized by the Business Intelligence Group with a Best Places to Work Award.

5. Technology Driven Edge We consider technological aspects to every decision we make. An in-house development team keeps us on the cutting edge of technology. Our proprietary software allows us to manage every aspect of customer service in one interface – from setting up your organization’s account to closing a claim.

Why we joined PIMA: We see PIMA as an industry hub that can connect us with key partners, decisions makers and industry intelligence. We see a growing demand for our Accident & Health offer across multiple industries and have been working to round out our products and solutions and our go to market strategy. We’ve assembled a talented team with decades of experience in the Employer and Affinity / Association channels.

We’re looking forward to working with PIMA and member companies to spread the word about our strengths, capabilities, and products.

What are we looking for in our PIMA relationship?

Most important, our team in looking forward to connecting with other PIMA members. Insurance is, and always has been, an industry based on relationships. Our experienced team is ready to support the association and membership to advance the industry, and to learn from others as we continue to build our business.

For contact information for Arch Insurance and other PIMA members, login into the PIMA member directory and begin connecting with your peers today.

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Product Provider

SPOTLIGHT About Us

Beam Dental is a digitally native employee benefits company that provides the industry’s most innovative dental insurance product. Beam Dental combines an easy-to-use online insurance platform, AI-powered underwriting, and the connected Beam Toothbrush for better overall wellness. Beam has raised over $170 million in venture capital funding and is the only digital company within the $100+ billion employee benefits category. Beam also offers vision insurance, and group life and disability coverage for employers of all sizes. Beam is available in over 43 states around the U.S. and is accepted at over 400,000 access points nationwide.

What are we looking for in our PIMA relationship?

We’re looking forward to connecting with the hundreds of key decision-makers within PIMA. The pandemic has had an irrevocable impact on the future of benefits- investment into insurtech is skyrocketing, employee behavior is changing, and what they want from their employers has shifted too. It’s crucial that industry leaders at all levels come together to assess trends, forecast future outcomes, and share industry knowledge through an organization like PIMA. In doing so, we’ll be able to evaluate, innovate and move forward within the modern insurance marketplace.

Why we joined PIMA: We joined PIMA for the unprecedented access it has given us to industry experts, online communities, advisory forums, and conferences within the sponsored benefits marketplace. These resources will be invaluable over the next year as we continue to assess how the pandemic has impacted the benefits world.

For contact information for beam and other PIMA members, login into the PIMA member directory and begin connecting with your peers today.

We also value PIMA’s commitment to staying up to date with the latest market developments and trends. We’re looking forward to utilizing PIMA’s alerts and advocacy surrounding regulatory and legislative matters affecting our industry. Beam is committed to making benefits easy, smart, and preventive for members, brokers, and employers. A key piece of which is evaluating what our members will want in the future.

We were also excited to join PIMA because of its mission to generate sustainable growth in the insurance marketplace.

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Product Provider

SPOTLIGHT About Us

With more than $35 billion of life insurance in-force, Fidelity Life helps everyday Americans achieve greater financial security by making life insurance more accessible and affordable.

According to industry research, 102 million U.S. consumers say they need life insurance, or need more of it. Despite this, life insurance ownership is at a 10-year low, with 48% of U.S. adults owning no form of coverage. Consumers believe life insurance is too expensive and difficult to obtain. We offer a suite of fast, affordable individual life insurance plans to help everyday families protect what matters most, and we work to make the process of getting covered easier, faster, and more affordable.

support. In addition, with a history dating back to 1896, we have a heritage of keeping our promises.

Why we joined PIMA: PIMA is known for its great content at conferences, the numerous webinars they host throughout the year, and the information they share on their member only portal. As a life insurance company looking to expand its business with Affinity partners, joining PIMA was an obvious step to future growth. The opportunities to network with individuals from the top Life & Healthy Affinity companies at PIMA is second to none.

What are we looking for in our PIMA relationship?

We offer Term, Final Expense, and Permanent coverage options for every age and stage of life. Our flagship RAPIDecision® Life product combines the quick issue of non-medically underwritten term with the affordability of fully underwritten coverage in a unique, patented design. This allows most policies to be issued in less than 24 hours. We also offer simplified and guaranteed issue coverage for senior market consumers.

Without question, we are most looking forward to the networking opportunities provided by PIMA. We are excited about the content provided at conferences and the various insights and trends on where our business may be heading, but the opportunity to meet with so many industry leaders – twice a year in one location – is priceless. The knowledge, expertise and experience that can be tapped into over a three-day meeting is outstanding and is what we are looking forward to the most as a new PIMA member.

We realize consumers’ time is valuable, and many do not know how much or what type of life insurance to buy. We offer plans that can be purchased over the phone or online, allowing consumers to get covered the same day. Consumers can get free, instant quotes online, or get personalized recommendations and support from our friendly, experienced agents.

For contact information for Fidelity Life and other PIMA members, login into the PIMA member directory and begin connecting with your peers today.

We offer brokers and partners a true turn-key life insurance solution, including proprietary product, online and tele-sales fulfillment, and marketing 26

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Product Provider

SPOTLIGHT About Us

For more than 40 years, Fortegra and its subsidiaries have delivered risk management solutions that help people and businesses succeed in the face of uncertainty. As a global specialty insurer, we offer a diverse set of admitted and surplus insurance products and warranty solutions.

Fortegra’s A.M. Best Financial Strength Rating of A(Excellent) is a result of our rigorous underwriting standards and consistent profitability. For more information, please visit: https://www.fortegra.com.

Why we joined PIMA:

What are we looking for in our PIMA relationship?

I am most looking forward to the PIMA’s Insights Conferences, access to the organization’s market research and whitepapers, and the opportunity to connect with fellow executives and thought leaders.

For contact information for Fortega and other PIMA members, login into the PIMA member directory and begin connecting with your peers today.

Through strategic acquisitions and organic growth, our product offering has evolved. Our diverse and comprehensive product offering, coupled with our vertically-integrated structure, uniquely positions us to meet the needs of the evolving affinity market.

We now offer specialty admitted and non-admitted insurance programs, consumer product protection plans, motor club, roadside, and a complete suite of credit protection products.

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Product Provider

SPOTLIGHT About Us

Point Health is an Austin, Texas-based digital health company that makes health benefits of any time go further. Our suite of tools and services combines powerful healthcare navigation capabilities, shopand-compare tools, and personalized assistance to help members get higher quality care for less money, increasing the value of their healthcare benefit.

Point Health’s Smart Healthcare Platforms means a superior member experience, lower costs, better retention, and a competitive edge on offerings that drive membership growth. We currently serve more than 1.6 million members and 50+ clients, increasing the value of a variety of their healthcare offerings: limited benefit plans, critical illness plans, discount plans, health sharing organizations, indemnity plans, and even final expense policies. By equipping health plans of all kinds with the three components of our Smart Healthcare Platform ( Mobile App, Healthcare Navigation, and Bill Negotiation) we’re helping Americans get healthcare that’s easier to find, understand, and afford. To learn more visit: https:// www.pointhealth.com

Why we joined PIMA: PIMA has a unique mix of professionals and topics that go to the heart of the communities we we serve. We’ve always worked closely with affinity and association groups to increase member satisfaction, and PIMA brings so much of that community together to share ideas, network, and learn that we feel this is the association fit we’ve been looking for. I think the grouping of professionals as product providers, business partners, and distributors 28

provides a unique opportunity to go deep on shared challenges. Point Health joined PIMA to connect with other leaders in the benefits industry in order to problem-solve together the issues that are most pressing to healthcare consumers and the organizations that serve them.

What are we looking for in our PIMA relationship?

Our team is most looking forward to making connections with other PIMA members and learning from them and PIMA’s events. The conference in Naples was a phenomenal opportunity to learn the challenges and partner with other PIMA members and associations. We also appreciate the invitation for Doug Bain, Point Health Chief Growth Officer to speak at the PIMA event in Naples. We received positive feedback from many of the members and look forward to future opportunities within PIMA.

For contact information for Point Health and other PIMA members, login into the PIMA member directory and begin connecting with your peers today.

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Product Provider

SPOTLIGHT About Us

Zurich North America is one of the largest providers of commercial insurance. As part of the Zurich Insurance Group headquartered in Switzerland, we bring 150 years of industry experience to the table.

We offer a wide range of insurance products and services to businesses of all sizes, including 95% of Fortune 500 companies.

Our customers come from a diverse set of industries including automotive, agriculture, construction, manufacturing, technology and more. We are committed to delivering broad and flexible insurance and risk management solutions to our customers.

In 2021, Zurich North America brought together its Life and Accident & Health businesses to better provide customers with insurance products and solutions that provide financial security and help mitigate their risks. Our coverage offerings include Group Accident, Supplemental Health, Occupational Accident, Specialty Health, Travel Insurance, Life Insurance and more.

to see multiple clients in one location. We are also excited to connect with other carriers, distributors and affinity group members. PIMA has a great reputation among those of us focused on the needs of the affinity market.

What are we looking for in our PIMA relationship?

We are eager to take advantage of the association’s marketing, regulatory and technology updates and overall knowledge base. We’re also excited to introduce the Zurich team to the PIMA leadership and other members and put a bigger spotlight on how Zurich is serving the affinity market. Finally, we’re simply happy for the chance to reconnect with so many familiar faces already involved with PIMA.

For contact information for Zurich North America and other PIMA members, login into the PIMA member directory and begin connecting with your peers today.

Why we joined PIMA: Some of the Zurich roster members have been former PIMA members, and we have always appreciated the benefits of being part of the association. As Zurich continues to grow in the affinity market, it is critical that we stay on top of regulatory issues and the evolving needs of the affinity market, and there’s no better place than PIMA to help us do just that. We’re looking forward to the great networking opportunities and appreciate the conferences which provide a venue 29

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2022 Sponsorship, Marketing & Advertising Packages Event Sponsorships Insights Charity Golf Outing (1 available) Golf Registrations (1) Branded message to all conference attendees 1st Hole Signage & Speaking Opportunity Online agenda mainstage and conference app recognition

Insights Awards & The Best of PIMA (1 available) 5-minute mainstage company presentation (live or recorded) Mainstage presentation of Best of Show & Judges Spotlight Award Logo on awards ebook plus printed award books (5) and award entry (1) Online agenda, mainstage and conference app recognition

Welcome Reception (1 available at each conference) 5-minute mainstage company presentation (live or recorded) Promotional handout for attendees (digital file required) Branded message to all conference attendees Online agenda, mainstage and conference app recognition

Networking Lunch (1 available at each conference) 5-minute mainstage company presentation (live or recorded) Promotional handout for attendees (digital file required) Branded message to all conference attendees Online agenda, mainstage and conference app recognition

Closing Keynote Intro and Private Session 5-minute podium presentation plus speaker introduction (live or recorded) 30-minute private, bonus virtual Q&A after the event for up to 10 attendees Branded message to all conference attendees Online agenda, mainstage and conference app recognition

Closing Celebration (1 available at each conference) 5-minute mainstage company presentation (live or recorded) Promotional handout for attendees (digital file required) Branded message to all conference attendees Online agenda, mainstage and conference app recognition

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Mainstage presentation of winners Sponsor badge for company website and digital communication Logo and link on PIMA website Logo on monthly Insights eNewsletter

$5,000 SOLD

Board & Sponsor Recognition Reception invite (1) Sponsor badge for company website and digital communications Logo and link on PIMA website Logo on monthly Insights eNewsletter

$5,000

Board & Sponsor Recognition Reception invite (1) Sponsor badge for company website and digital communications Logo and link on PIMA website Logo on monthly Insights eNewsletter

$5,000

Board & Sponsor Recognition Reception invite (1) Sponsor badge for company website and digital communications Logo and link on PIMA website Logo on monthly Insights eNewsletter

$5,000

Sponsor badge for company website and digital communications Logo and link on PIMA website Logo on monthly Insights eNewsletter

$5,000

Board & Sponsor Recognition Reception invite (1) Sponsor badge for company website and digital communications Logo and link on PIMA website Logo on monthly Insights eNewsletter

$5,000

For more information contact Ramona Hopkins at 817-569-7462 or sponsorship@pimainsights.org

THANK YOU TO PIMA’s 2022 SPONSORS

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PLATINUM

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