Creating Unforgettable Policyholder Experiences with Matt Berman, President of Foresters Financial
Release Date: 05/10/2023
Leading Change in Underwriting with Andrew Kramer, M Financial Group
Life Accelerated
In this episode of Life Accelerated, host sits down with , VP and Head of Underwriting Risk & Innovation of M Financial Group, to discuss how innovation is reshaping underwriting and risk management in life insurance. Andrew breaks down the innovative steps M Financial Group is taking to streamline underwriting processes, from embracing electronic health records to championing industry-wide data standardization. He shares how the company is tackling the challenges of high-net-worth insurance, balancing risk-sharing with the need for personalized service. This conversation provides...
info_outline
Building a Future-Ready Insurer with Michael New, ClearView
Life Accelerated
In this episode of Life Accelerated, host Olivier LaFontaine sits down with , Chief Technology Officer at ClearView, to explore the realities of large-scale digital transformation in life insurance. Michael shares his experiences leading ClearView’s migration to a modern policy admin platform, tackling legacy system challenges, and ensuring data readiness for a seamless transition. As an ultra-marathon runner, he draws compelling parallels between endurance sports and the long, strategic journey of digital modernization. From navigating data complexities to redefining the advisor...
info_outline
Meet the New Host of Life Accelerated, Olivier Lafontaine
Life Accelerated
In this episode of Life Accelerated, host Anthony O’Donnell introduces , Equisoft’s Chief Product Officer, as the new host of the podcast. Olivier shares his perspective on the unique challenges facing life insurance carriers, from navigating 20-year transformation timelines to achieving vendor independence and embracing generative AI. He highlights how low-code/no-code solutions and modernizing legacy systems play a pivotal role in helping carriers adapt to market shifts and regulatory changes while maintaining long-term operational stability. Listeners will hear Olivier’s vision...
info_outline
AI, CX, and the Insurance Revolution: Insights from Industry Leaders with Anthony O’Donnell
Life Accelerated
In this special episode of Life Accelerated, host Anthony O'Donnell revisits thought-provoking conversations with some of the most influential leaders in the life insurance industry during 2024. These discussions delve into the accelerating pace of technological change and its profound impact on customer expectations, operational efficiency, and employee engagement. Through these dialogues, the episode examines how insurers are redefining traditional practices to address the shifting demands of the industry while staying true to their core mission of supporting policyholders and their...
info_outline
Revolutionizing Insurance Operations with AI with Karen Leggett, Manulife
Life Accelerated
In this episode of Life Accelerated, host Anthony O’Donnell sits down with Global Chief Marketing Officer at Manulife, for an insightful look into how AI and digital transformation are reshaping the insurance landscape. With a rich background spanning top leadership roles in banking and insurance, Karen shares how she’s leading a customer-centric revolution, integrating AI, advanced analytics, and innovative technology to enhance customer experiences and streamline operations. Karen discusses Manulife's strategic approach to AI, sharing transformative projects like their internal AI...
info_outline
Unlocking the Potential of AI for Life Insurance Leaders with Richard Wiedenbeck, Ameritas
Life Accelerated
In this episode of Life Accelerated, host Anthony O’Donnell brings you an illuminating conversation with , Chief AI Officer at Ameritas. With a wealth of experience in the life insurance and technology sectors, Richard has seamlessly transitioned from his role as CIO to his pioneering position as Chief AI Officer. This title alone signifies Ameritas's progressive strides in adopting artificial intelligence. Richard's background makes him an authoritative voice in discussing the digital transformation landscape within the life insurance industry. This episode offers a deep dive into how...
info_outline
Promoting Long, Healthy Lives Through Digital Transformation with Jean Olive, John Hancock
Life Accelerated
Host Anthony O'Donnell sits down with , CIO of , to discuss the company's impressive journey towards digital transformation and its focus on enhancing customer experience. Jean shares her engineering background and diverse industry experience, discussing John Hancock’s mission to promote long, healthy lives through innovative initiatives like vitality behavioral insurance. The discussion covers the significant role of AI and data-driven strategies in revolutionizing underwriting, sales applications, and overall customer satisfaction. In this episode, listen to how John Hancock is...
info_outline
Staying Customer Focused in Digital Transformation with Niki Manby, Mutual of Omaha
Life Accelerated
Host Anthony O'Donnell welcomes , Chief Strategy and Innovation Officer at to share the remarkable journey of the company’s digital transformation that has boosted the success of the company. Niki shares her extensive experience in financial services and fintech, showcasing how she's driving change and ensuring the company remains competitive and customer-focused. They explore the unique challenges of the insurance sector, the impact of agile methodologies, and the potential of emerging technologies such as AI to revolutionize the industry. In this episode, you’ll hear...
info_outline
Connectivity Initiatives That Create Seamless Digital Integration with Dora Clements, Unum
Life Accelerated
Great leaders in digital innovation often start their journey in diverse fields. is an exceptional leader at Unum whose impressive journey from entertainment law to overseeing transformative initiatives at the 175-year-old company is a testament to the potential for multidisciplinary approaches in driving organizational change. Host Anthony O’Donnell speaks with Dora, the Senior Vice President of Transformation, in this episode about how Unum is leveraging digital technologies to transform its operations, enhance customer experiences, and stay competitive in the ever-evolving life insurance...
info_outline
Simplifying Life Insurance Through Digital Transformation with Nick Rohan and Kevin Cummer, TruStage
Life Accelerated
Host Anthony O'Donnell welcomes back , Director of Life Products, and , Director of Partner Management at TruStage Insurance to share the remarkable journey of TruStage’s digital transformation, which has not only redefined their brand but also set new benchmarks in the insurance industry. Kevin and Nick take us through the evolution of TruStage, from its roots as CUNA Mutual Group, primarily serving credit unions, to its current position as a major player in the direct-to-consumer insurance market. They discuss the strategic rebranding of TruStage and how it has unified its offerings under...
info_outlineMatt Berman, a dynamic leader in the life insurance industry, brings over 16 years of experience to the table. Having held senior roles in product distribution and customer experience, Matt now serves as the President for both the US and Canadian markets at Foresters, a financial services company focusing on life insurance and investments. With a passion for delivering unique, value-driven experiences for policyholders, Matt is a key figure in driving Foresters' digital transformation journey, creating impactful and engaging solutions for members.
In this episode, Matt covers the transformation of the life insurance industry through digital innovation, how modern technology can boost customer engagement, the importance of adapting your product offerings to address ever-changing customer expectations, the implications of the COVID-19 pandemic on the life insurance landscape, and more.
Key Takeaways
-
Digital transformation speaks to the experience you deliver for your end consumer, your agents and advisors, and–most importantly–your employees.
-
Digital transformation is a way to enable advisors to make their impact on the consumer more effective, as life insurance is complex and everyone has a different circumstance.
-
Engagement informs better business quality and a better, more mutually profitable relationship with the customer and state-of-the-art systems allow for more value and the ability to stay in touch with customers' needs as they evolve.
Timestamps
[00:00] - Introduction to Matt
[03:10] - Matt Berman's Background and Skills
[08:41] - Digital Transformation and Life Product Evolution
[11:28] - Distribution and Technology
[14:34] - Foresters Strategic Plans
[19:27] - Foresters Digital Transformation Journey
[22:49] - Sales-Related Systems
[24:30] - Foresters' Conception of Customer Engagement
[27:45] - COVID's Impact on Foresters
[30:46] - Making Life Insurance Compelling
Resources
Learn more about Foresters Financial