President’s Blog


27
May 2014

One of the most important and frequently overlooked membership benefits is on its way to Alliance members this week. Our Annual Financial Analysis provides society executives with an incredibly valuable management tool to evaluate your society’s financial performance and overall health based on eleven critical ratios – measuring factors from RBC to assets to premium growth. More importantly, the report allows you to compare your ratios to benchmarks of other fraternals of comparable size and a select group of ten small commercial life insurers with an A.M.

 » Read more about: An......

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20
May 2014

One of the highlights of last week’s Canadian Section Annual General Meeting – and there were many – was the presentation by Jim Doherty, Senior Director of the Office of the Superintendent of Financial Institutions (OSFI), Canada’s federal insurance regulator.  Over the past few years, Jim has become a staple of the CFA meeting program and has developed a reputation for delivering clear messages on what he and OSFI see when it comes to the future of insurance regulation and fraternals. 

 » Read more about: Clearly Canadian: Federal Regulator Tells It Like......

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13
May 2014

Prior to last month’s Presidents Section Mid-Year Meeting, we sent a brief survey to all registrants to gauge their views on several of the key topics – regulation, interest rates, growth strategies, etc. – that were on the agenda for the conference.  We sent a similar survey to the registrants of this week’s Canadian Section Meeting.  The responses from executives on both sides of the border was virtually identical.

wave

I wanted to highlight a few of the most interesting results of those surveys –......

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05
May 2014

Sorry for the long break between posts.  It’s not that there’s a shortage of topics to discuss – my “blog idea” file keeps growing every day.  But we’re in the thick of Section Mid-Year Meeting season here at the Alliance and things have been a little…busy. We’ve wrapped up the first three Mid-Year meetings of the season – Fraternal/Communications, Fraternal Operations, and Presidents – and your ratings and comments on the evaluation forms have exceeded our highest expectations. 

 » Read more about: Presidents and Fraternal Operations Mid-Year Meeting Topics Hit Home  »...

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21
Apr 2014

We all know, love, and celebrate the fraternal “differentiator” – our unique organizational structure that allows us to help secure the financial futures of our members AND improve the communities in which they live and work through volunteerism and by providing funding for projects and programs that reflect our common bonds. And nothing makes me happier than using this blog to report on innovative ways member societies are fulfilling their financial and fraternal missions.

Woodmen of the World/Omaha Woodmen Life Insurance Society’s “Red Basket” is one of those success stories.

 » Read more......

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14
Apr 2014

I’ve been to more than my fair share of industry conferences over the past six weeks – some sponsored by the Alliance and some sponsored by other industry groups (A.M. Best, LIMRA, the NAIC) – and I’ve come away with some pretty interesting (and overwhelmingly positive) information. Here’s a thumbnail sketch of the key lessons I’ve learned…

  • We are not alone – Not even the biggest and best-capitalized insurers have the solutions to making their organizations,
 » Read more about: The glass is half full – of beer!  »...

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07
Apr 2014

This may not ever happen to you, but I occasionally have moments of professional doubt. I wonder if the Alliance’s advocacy, education and information initiatives can really have a positive impact on the future of the fraternal system. I wonder if fraternals can transform the beauty of the cooperative business model to attract the next generation of members. I wonder if doing things “the way we’ve always done them” is leading the entire life insurance industry (not just the fraternal sector) toward a “Napster moment” (that peer-to-peer internet music file sharing service......

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01
Apr 2014

Earlier this week, at the  National Association of Insurance Commissioners (NAIC) Spring National  Meeting, the Corporate Governance (E) Working Group amended a proposed corporate governance model act to ensure that it applied to fraternal life insurers.  The model act is expected to be adopted at the NAIC’s August 2014 meeting.  From there, it will be up to each state to enact the model.

The Alliance strongly supported this amendment.  The fact that regulators made a specific revision to the proposal to include fraternals is a clear sign that they understand the important link......

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27
Mar 2014

millennial tech

This week Joe is on the road on Alliance business with stops in Pittsburgh and Springfield, Illinois, among other places. While he is away, I am going to throw my hat into the blogging ring and take a few moments to talk about an exciting new Alliance member benefit designed to modernize how you connect with your chapters.

Chapters are an important part of any society. They promote and advance your mission and vision to......

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17
Mar 2014

Earlier this month, I attended the A.M. Best Review and Preview Conference, an annual gathering of hundreds of top executives from some of the world’s largest life, health, and property/casualty insurers and reinsurers. It was the first time I had been invited to attend the event, and I was pleased to see that executives from a couple of Alliance member societies were there, too. Boomers vs MillennialsIt looked and felt like most insurance industry conferences......

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