All articles by Charles Davis
Charles Davis
Uncle Sam on the hunt for tax revenue
On the hunt for more tax revenue, the Obama administration is turning its attention to potential new sources lurking in the life industry, including corporate-owned life insurance and life settlements As budget woes worsen in the US, the federal government is on the hunt for new sources of revenue
An ineluctable reality for life insurers
Social networks have exploded onto the world as a revolutionary way of communicating, but one most life insurers have yet to come to terms with
Putting humanity back into insurance
How to transform a large life insurers corporate image into one of genuinely caring for people was the challenge faced by Aviva USA three years ago The insurers chief marketing officer discussed with Charles Davis the strategy that was adopted and the significant success that it is now achieving. When Aviva USA set out to redefine its corporate identity, it was well aware of its position as part of a global insurance giant
US insurers turning to outsourcing
Outsourcing of asset management by insurers is gaining pace in the US, spurred on by a need to cut costs and a recognition by many that they lack the expertise required More insurers than ever before are outsourcing management of their general account investments to third party investment managers, according to a report from the Insurance Asset Outsourcing Exchange.
Estate tax boost for US life insurers
Estate planning, a moment fraught with the sort of long-term planning that gives rise to insurance decisions, has always presented opportunities for life insurers Now, adding an additional opportunity for them to grab a bigger share at the high net worth individual market is new US estate tax legislation The new law forms part of the Tax Relief, Unemployment Insurance Reauthorisation and Job Creation Act of 2010
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Dark days for LTC
Although an ageing US population is making long-term care insurance increasingly important, low lapse and low interest rates have made it a product many providers are turning their backs on
Insurers losing the innovation race
Insurers have adopted technology to improve processing functions, but many are failing to get to grips with the impact technology is having in the sphere of innovation
Retirees ignore annuities at their peril
The proportion of retirees in the US relying on interest from their savings who are at risk of outliving their financial resources is growing alarmingly, according to a new study by Boston College In its latest National Retirement Risk Index (NRRI), a snapshot of American readiness for retirement, the centre for retirement research at US university Boston College paints a dismal picture, albeit one with rich potential for the life insurance industry
Innovation the key to survival
In a stirring address to the 2010 LIMRA Annual Conference in Washington DC, Robert Kerzner, president and CEO of financial industry organisations LIMRA, LOMA and LL Global, put out a challenge to more than 450 senior US insurance executives That challenge is to find new ways to adapt their product design, underwriting and distribution models in order to advance the life insurance industry, or risk obsolescence as the economic uncertainties combine with regulatory upheavals to roil the industry.
Northwestern Mutual rides high on permanent life product sales
As its customer base recalibrated risk tolerance in the wake of the recession, US life insurer Northwestern Mutual ramped up its marketing of permanent life products. The results have been spectacular: Northwestern Mutual which has used The Quiet Company as its slogan for a long time announced that between January and July this year the number of new permanent life policies purchased increased more than 23% over the same time period in 2009