Client Background:

• A regional Life and Annuity carrier with an over 100 year rich history and culture was seeking strategic growth guidance that optimizes its current assets and reputation with a focus on Distribution/ Product/Reinsurance.

PPI Approach:

• PPI conducted a thorough review of all existing products, distribution channels, reinsurance treaties and service platforms.‍‍
• In-depth interviews were conducted with carrier senior management as well as potential distribution partners and leading reinsurers looking for receptive partnership model candidates.‍
• Created competitive pricing analysis and product comparison review for key term and permanent products.‍
• Assessed existing reinsurance arrangements for life and annuities.‍
• Developed detailed Cost Benefit Analysis of current distribution model.

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Results: ‍

• Based on our analysis, the carrier agreed to expand into the Life BGA distribution channel and make major changes to their career agency system.‍
• Created new BGA distribution channel partnership with leading national IMO who targeted and brought in three new Agencies aligned with carrier’s mission, culture and partnership goals. While still early in new channel launch, the results are already proving significant with a strong future upside.  ‍
• Re-priced term product to be competitive (within top decile for the BGA market). ‍
• Advised and guided carrier through new reinsurance treaty for a large percentage of the in-force fixed annuity block which freed up significant capital to invest in distribution and product with remainder dropping to their bottom line. ‍
• Helped identify, create and manage new life insurance reinsurance treaty for new business utilizing  major life reinsurer who is providing partnership support across underwriting, technology and product development.