From its humble beginnings 120 years ago to one of the largest women-led life insurers in the nation, Royal Neighbors of America continued a strong growth trend in 2014 and reports robust financial results for the year, according to a press release. It generated revenue in excess of $134 million; grew its assets by $36 million to $904 million; increased its life insurance in force from $2.8 billion to almost $3 billion; and has a surplus of $209 million, resulting in a surplus to assets ratio of 23 per cent and an industry-leading risk based capital ratio. These results highlight the strength and stability of the organization. In other news about Royal Neighbors of America, Promise Plus is a whole life insurance product with a cancer waiver of premium rider designed to waive premium payments in the event of a diagnosis of three specific types of cancer. If someone 59 years old or younger has this suite of products, and is diagnosed with Stage II or greater breast, cervical, or ovarian cancer, Royal Neighbors will waive life insurance premium payments for two years. Also, if a second type of covered cancer is diagnosed the individual is able to utilize this feature again. In fact, this benefit can be used once for each type of covered cancer.
Laser App Software, a provider of forms automation and management software for the securities and insurance industries, announced that registration for its 2015 Financial Services Conference is now open. This year’s conference will be focused on technology adoption for the broker-dealer community. It will be held August 18-21 at the San Diego Marriott Marquis & Marina. The conference is specifically designed to bring financial executives and broker-dealers together to discuss industry topics such as this year’s focus: Teaching BD’s and custodians how to get advisors using the tech they provide. Also this year, Laser App is introducing the Advisor Convention October 7-8 at The Rio Hotel & Casino in Las Vegas. The Laser App Advisor Convention is designed to help advisors to better access the technology available in the marketplace. For more information and to register, please visit their website here.
The Professional Insurance Marketing Association (PIMA) has released the 2015 updated edition of its Advertising Compliance Manual. The manual covers print and electronic media advertising best practices, state advertising filing requirements, and more. It assists in ensuring that advertising copy and marketing materials meet statutory and regulatory requirements. The manual, published in a searchable CD format, is provided to members as a member service but is available for sale to non-members for only $695.For more information, including an index, see the PIMA website.
Benefitfocus, Inc. (NASDAQ: BNFT) announced new benefits software solutions for consumers, employers, insurance carriers and brokers during the company’s One Place 2015 Conference. The new product announcements centered on the all-new BENEFITFOCUS® Marketplace, a powerful private exchange platform with innovative features, including: an elegant user experience, communications portal, mobile app, advanced administration capabilities, automated billing and payment, data analytics, an integrated wellness solution, voluntary benefits integration and more.
Agent Review provides non-biased guidance for consumers looking for information on insurance products, while offering local insurance agents the opportunity of working with them, according to a press release. “We believe that even though consumers conduct their research online, ultimately they want to “buy local” from a trusted resource”, said Harley Gordon, co-founder and president. “For the first time, consumers will have the opportunity to work with agents whose credentials have been independently verified.” Gordon continues, “They will also be able to rate their agent experience to help others make informed decisions.” National reports indicate that 80 percent of consumers looking for information about insurance or agents do so online and that social media influences 93 percent of their decisions. “The market for online insurance search is growing exponentially,” said Jonas Roeser, co-founder and CEO of Agent Review. “In today’s digital world performance reviews, peer ratings and client testimonials can make or break an agent. Surveys indicate, however, that buyers are concerned about the authenticity of online reviews. Agent Review’s platform will provide consumers verified information on both an agent’s credentials and reviews”, Roeser said.
Callidus Software Inc. (NASDAQ:CALD), a global leader in cloud-based sales, marketing, learning and customer experience solutions, announced that CallidusCloud® is now enabling over 130 of the world’s top insurers to improve agent effectiveness in the era of the digital agency. The insurance industry is undergoing a transformation as broken processes, stitched together by fragmented legacy systems are no longer competitive. ING Life Japan is the latest insurer to embrace automation and transform the process of bringing new agencies and producers on board. CallidusCloud’s solutions dramatically reduce the time required to complete the qualification and onboarding process, optimize incentive compensation, and improve lead management, which speeds time to revenue. The fully configurable suite of solutions is giving the world’s top insurance companies a competitive edge in the digital agency era.
DoubleNet Pay has launched a financial wellness app in the ADP Marketplace that fully integrates with employer payroll providers to pay employees’ bills and fund savings plans. DoubleNet Pay is an easy-to-use app that automatically tracks and pays employees’ bills around their paycheck cycles, leaving them with an exact amount for discretionary spending. It gives employees peace of mind that their bills are paid on time and helps them prepare for unexpected expenses and budgeting for recurring needs. It also lets employees sets aside savings based on personal goals. DoubleNet Pay is named for and founded on the principle that bills should be paid and savings funded before discretionary spending. The ADP Marketplace gives clients, partner companies and application developers access to its application programming interfaces (APIs) through a secure cloud platform. By accessing ADP’s APIs, companies can enhance data-sharing capabilities across their enterprise applications with a single set of workforce data.
In its continued commitment to improving the oral and overall health of children in Georgia, the Renaissance Family Foundation, an affiliate of RenaissanceDental, will bring Brush!®, a literacy-based oral health education program, to Head Start programs in more than 40 Georgia counties. Created in partnership with the McMillen Center for Health Education, Brush! is a 52-week program aimed at improving the oral health and school readiness of children entering kindergarten. The $35,000 grant marks Renaissance Dental’s broadest effort in the state yet. In total, more than 4,000 preschool-aged children, their parents/caregivers and 320 teachers across the state will take part in the comprehensive 52-week curriculum. Brush!® is unique because its lessons align with national Head Start domains and involves teachers, children and families. Students learn about dental health while also developing reading, science and math skills.