Stephens

Stephens Inc. is a full service investment banking firm headquartered in Little Rock, Arkansas. Since its inception in 1933, privately held Stephens Inc. has served a broad client base which includes corporations, state and local governments, financial institutions, institutional investors and individual investors throughout the United States and overseas. For more information, visit www.stephens.com or www.thisiscapitalism.com. Member NYSE, SIPC.

Dr. Joseph Sanford and Dr. Kevin Sexton, Leaders of the Medical Claims Analytics Teams at Stephens Insurance 10/26/2021

Brian Chance, Senior Vice President, Cost Based Efficiency Claims & Risk Manager at Stephens Insurance 05/03/2021

020: David Keisner, Vice President, Associate Pharmacy Benefits Analyst at Stephens Insurance 03/09/2021

019: Dr. Geri Bemberg, Vice President & Pharmacy Benefits Analyst at Stephens Insurance 10/11/2018

018: Prentice McIntosh, Vice President of Risk Management at Stephens Insurance — Part 3 08/27/2018

017: Prentice McIntosh, Vice President of Risk Management at Stephens Insurance — Part 2 08/24/2018

016: Hurricane Preparedness — With Prentice McIntosh, Vice President of Risk Management at Stephens Insurance 08/24/2018

015: Workplace Health — With Todd Whitthorne, President of ACAP Health Consulting and Tom Kane, Executive Vice President and Director of Life & Health at Stephens Insurance 05/16/2018

014: Kara Trott, Founder and CEO of Quantum Health and Walker Bowden, Director of Self-Funded Marketing for Stephens Insurance 05/16/2018

013: Olin Wage, Senior Vice President and Long-Term Care Advisor for Stephens Insurance 03/06/2018

009: Jared White, Vice President of Stephens Inc.’s  Public Finance Practice 12/20/2017

009: Jared White, Vice President of Stephens Inc.’s  Public Finance Practice Frank Thomas interviews Jared White, Vice President of Stephens Inc.’s Public Finance Practice in North Carolina, in this episode of Stephens Viewpoints. Frank and Jared discuss North Carolina’s public finance. Communities are investing in Minor League baseball stadiums, public transportation in light rail lines and bus lines, and in innovative high schools, attracting commerce to downtown and growing their populations. Key Takeaways: [:43] In the North Carolina market, and in public finance in general, Jared is seeing a strong attraction to building Minor League baseball stadiums, especially in second-tier markets, to help revitalize downtown communities. North Carolina is the second-most populated state in terms of Minor League ballparks. [1:22] Communities looking to attract a Minor League team first need to allocate land for a stadium. Land use is a top consideration. Charlotte had a team, but their stadium was in South Carolina. Building a stadium in downtown Charlotte brought their attendance from one of the nation’s lowest, to breaking minor league attendance records. [2:28] Stephens Public Finance usually comes to the table after a baseball consultant, such as Hardball Capital, who works with the municipality to design the stadium, works with architects to lay it out on the plot, and takes the presentation to the ball club. At that point, Stephens comes in, having a general idea how much it will cost. [3:19] From there, Stephens will work with the issuer on tailoring a financing plan that meets all of those needs at the lowest cost of capital. Stephens also looks at taxable bonds for this type of project, although upcoming Federal legislation may change that. [4:11] Sports stadiums are being used as a magnet to attract development to downtown areas in other communities. Baseball is America’s pastime, especially at the affordable price of Minor League tickets for a family outing. There are four stadiums being built in North Carolina. NASCAR stadiums are being repurposed for teams when not in use. [5:25] Stephens has a lot of stadium experience dating back to the Superdome financing in New Orleans. Stephens does a lot of college and university football and baseball stadium and sports complex financing. Stephens knows the small markets. [6:08] Over the last 17 years, North Carolina has seen some of the strongest population growth. Most of the growth is in the downtown areas of communities. They are investing in public transportation with Lynx light rail lines and bus systems. Cities are turning high schools into innovative bridge-to-work programs, attracting industry to downtown. [7:15] Jared says this downtown focus is definitely a trend. The six largest cities in North Carolina are seeing growth in their downtown area and they all have a Minor League presence. This activity attracts restaurants, hotels, other commerce, and really revitalizes and grows the downtown area. [8:26] For more information on this topic, please contact Stephens Public Finance at 1-800-643-9691. To listen to more Stephens Viewpoints, check out our website. Mentioned in This Episode: Securities offered through Stephens, Inc., Member NYSE, SIPC. This podcast should not be copied, distributed, published, or reproduced, in whole, or in part. The information contained in this podcast is not financial research, nor a product of Stephens Research. Stephens does not make any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefore is expressly disclaimed. The views expressed in this podcast are not necessarily those of Stephens and Stephens is not providing any investment, financial, economic, legal, accounting, or tax advice, or recommendations in this podcast. In addition, the downloading of this podcast by any listener does not make that listener a client of Stephens. /episode/index/show/stephens/id/6076457

008: Tom Kane, Executive Vice President and Director of Life & Health for Stephens Insurance 12/13/2017

008: Tom Kane, Executive Vice President and Director of Life & Health for Stephens Insurance Frank Thomas interviews Tom Kane, Executive Vice President and Director of Life & Health for Stephens Insurance, in this episode of Stephens Viewpoints. Frank and Tom discuss the importance of the practitioner model when advising clients on health insurance and benefits. With medical practitioners on staff, account executives can provide clients with transparency on healthcare and pharmacy costs. Tom discusses the benefits of data-driven analytics in understanding health risks within a client employee group, and the benefit of providing important steps employees can take to reduce their risks of future disease and to manage existing disease. Key Takeaways: [:48] Stephens Insurance has both a medical practitioner and a pharmacist on staff. Tom explains how Stephens has responded to changes in client expectations over the last 10 to 15 years by transforming to a risk management philosophy from the historical transactional role of most brokers. [1:46] Looking at the risks in a health plan population requires the insight of clinical practitioners. In 2006, Stephens hired two registered pharmacists, who are still with Stephens today. A few years later, Stephens added a medical director. [2:11] Sitting with a client, the Stephens broker can now have a different conversation focused on what is actually happening within the plan, what is driving the cost, rather than just a conversation around shifting costs. [2:25] The Stephens medical director works with account executives to study client health data and advise on the trends occurring within their population. They can find gaps in care, such as patients not following the protocols for managing diseases, or if employees are not getting screenings. Stephens can help incentivize compliance. [3:29] The role of the pharmacists is to help clients design the best pharmacy program for their health plan. They understand the pharmacy industry. They have a hands-on role with the clients and the account management team. [4:06] Stephens believes in total transparency. Clients have a right to know the Pharmacy Benefit Manager pricing methodologies. People need to have access to transparent quality data, as well. Stephens advises clients to provide tools to employees that allow them to understand what the costs are. [4:53] In Central Arkansas, Stephens has done research that shows the cost for an MRI to be very different from one provider to the next. Transparency is the future of healthcare and insurance. People should be able to go online and see what an MRI costs, and not only what it costs, but who has the highest quality outcomes. [5:19] Tom says health insurance is bad for your health because it was offered as a remedy for being sick. The message needs to change to things you can do to prevent getting sick. Having a practitioner model where you can present the client with practitioner expertise is empowering and transformative for the client and employees. [6:32] For the first time, companies are dealing with the wellness of employees that span three generations. That adds levels of complexity from messaging, to the disease states of the generations. Younger people need to stay healthy; mature people need to change behaviors to reverse early disease; the elderly need to manage their diseases. [8:30] Everything Stephens does begins and ends with data. It has done an exhaustive process of vetting data analytic vendors. It has found a best-in-class provider for its clients. Through risk-scoring and predictive analytics, Stephens can tell a client, if nothing changes, this is what your health care costs will look like. [9:11] Stephens is able to predict with a high degree of accuracy what’s going to happen to care costs and admissions if a client employee group does not make any changes. It’s very empowering to have access to that data, where we can pinpoint individuals who are at risk for a significant health event. [9:37] To our listeners, please continue to tune in as we explore more topics with experts from Stephens Insurance. For more information on this topic, please contact Stephens Insurance at 1-800-643-9691. To listen to more Stephens Viewpoints, check out our website. Mentioned in This Episode: Insurance products offered through Stephens Insurance, LLC., National Producer Number 8844362. Securities are offered through Stephens, Inc., Member NYSE, SIPC. “This podcast should not be copied, distributed, published, or reproduced, in whole, or in part. The information contained in this podcast is not financial research, nor a product of Stephens Research. Stephens does not make any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefore is expressly disclaimed. The views expressed in this podcast are not necessarily those of Stephens and Stephens is not providing any investment, financial, economic, legal, accounting, /episode/index/show/stephens/id/6110232

007: Stan Payne, Executive Vice President and Director of Property & Casualty for Stephens Insurance 08/23/2017

007: Stan Payne, Executive Vice President and Director of Property & Casualty for Stephens Insurance Stan Payne, Executive Vice President and Director of Property & Casualty of Stephens Insurance, is interviewed by Frank Thomas in this episode of Stephens Viewpoints. Frank and Stan discuss the risk management industry, starting with the history of risk coverages, through the trends of today and for the future. Stan suggests actions to take now that may help listeners understand and mitigate the risks facing their businesses. Key Takeaways: [:34] Stan has been in the insurance business for 22 years. He joined Stephens in 2009, at an interesting time for the financial services industry. He thinks it was a great move to join a privately-held firm that had a genuine interest in developing specialty services and resources for the risk management business. [1:06] Stan observes that risk management clients are looking beyond traditional risk finance to the human capital aspect and the survival of a business. Threats are much more complex than weather or accidents, where Stephens has its roots. [1:35] Reputational risk from social media exposures, and cybercrime, are at the forefront of Stephens’ clients’ minds. [1:47] In the 1960s, loss control came into vogue, and became more specialized throughout the 1970s. In the ’80s and ’90s, employment practices along with directors and officers liability, became popular coverages because of litigation that ensued from how employers managed their workforce, as well as from shareholder actions. [2:22] In the 21st century, two key elements have come into play. The first, from 2001, is terrorism, and how you finance that risk, or protect your business against it. Now, cyber risk is at the forefront of business. [2:51] Stan explains why risk mitigation is more important than ever before. Business owners do not want to expose their investment to carelessly assessing risk. They want an inventory of risks to the enterprise, and a clear plan to thwart those risks, so in the event of a breach, they are seen as proactive. [3:20] The speed of business and technology have made active risk management more critical. Thirty years ago, E. Coli at one restaurant wouldn’t have made national news. Today, in five minutes, people all over the world know of it, and watch your response. [4:02] Stan talks about the Stephens process of bringing in experienced practitioners to counsel their clients. This is a concentrated investment in risk management professionals. Understanding the functional side of risk management within a client’s walls is important for implementing the right directives. [4:42] Stephens owns and invests in many of the industries where they are managing risk for clients. Stephens has the buyer’s perspective. They understand the reality of implementing and managing the risk process, because they do it every day in myriad industries. [5:19] Stan explains the role of loss control engineers. Loss control or safety engineers assist clients in developing action plans and coordinating resources for the prevention of claims, and the production of disaster recovery plans and other services. [5:52] Stephens’ engineers have, in many instances, performed these duties in their past as clients, or on the insurance carrier side. These perspectives show Stephens what clients will encounter internally, with their own management and boards as they establish safety goals. [6:21] Reality is in the implementation and perpetuation of sound risk management practices. The Stephens team has the experienced view of both perspectives. [6:32] Additionally, technology has played a key role in the delivery of these resources. Stephens has a tool that allows them to deliver safety training to individual employees one-on-one, across the country, in several different languages. It also helps with OSHA regulations, and for managing reporting obligations. [6:57] Insurance clients need to be planning for risks by consulting with their broker, and completing an enterprise risk assessment, in an ongoing process, that is fully integrated into their business plan. [7:25] To our listeners, please continue to tune in as we explore more topics with experts from Stephens Insurance. For more information on the topic of risk mitigation, please contact Stephens Insurance at 1-800-643-9691. To listen to more Stephens Viewpoints, check our website at Stephens.com/podcasts. Mentioned in This Episode: Insurance products offered through Stephens Insurance, LLC., National Producer Number 8844362. Securities are offered through Stephens, Inc., Member NYSE, SIPC. “This podcast should not be copied, distributed, published, or reproduced, in whole, or in part. The information contained in this podcast is not financial research, nor a product of Stephens Research. Stephens does not make any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast, and any liability therefore is expressly disclaimed. The views expressed in this podcast are not necessarily those of Stephens, and Stephens is not providing any investment, financial, economic, legal, accounting, or tax advice, or recommendations in this podcast. In addition, the downloading of this podcast by any listener does not make that listener a client of Stephens.” /episode/index/show/stephens/id/5669273

006: Marty Rhodes, President and CEO of  Stephens Insurance — Part 3 03/09/2017

006: Marty Rhodes, President and CEO of  Stephens Insurance — Part 3 Marty Rhodes, President and CEO of Stephens Insurance, concludes the conversation with Frank Thomas in this episode of Stephens Viewpoints. Frank and Marty discuss complying with The Affordable Care Act, covering cyber liability, the future of Stephens Insurance, and how the Stephens culture helps retain talented team members. Listen in to learn more. Key Takeaways: [:32] The 2700-page Affordable Care Act introduced many issues into employee benefits insurance. Stephens had a team study it, and start doing seminars in Arkansas, to help businesses prepare. Challenges continue today, with rising rates. [2:35] Data analytics plays an important part in assessing a client’s insurance coverage needs. The Stephens benefits platform has a data analytics expert, an actuary, two pharmacists, an M.D., and an attorney; all expert in employee benefits. [4:00] Why does Stephens — a mid-sized insurance broker — have a doctor and pharmacists on staff? Marty explains. [4:48] Marty talks about how Stephens benefits platform specialists serve their clients. [6:34] Cyber liability is another current insurance coverage issue. A lot of companies are considering it, but it needs to be more widely adopted. Stephens offers this coverage. [8:23] Marty discusses Stephens Insurance’s efforts in cyber security coverage. [9:13] Stephens Insurance has an exciting future, building on the progress of the last several years. They continue to focus on bringing in new, talented, team members that will fit in the Stephens culture. Stephens will continue to focus on client relationships. [10:23] Stephens platforms combine new talented members and members with years of experience to mentor them. The emphasis is quality in the team, in the products, and the service. Stephens relationships are built on quality of service and products. [12:09] Having the right culture in place is the key to retention. The Stephens culture includes team, family, service, relationships, and quality. It’s a tremendous place to be. [13:23] That concludes this podcast series. For more information, please contact Stephens Insurance at (501) 377-2000. Mentioned in This Episode: Insurance products offered through Stephens Insurance, LLC., National Producer Number 8844362. Securities offered through Stephens, Inc., Member NYSE, SIPC. “This podcast should not be copied, distributed, published, or reproduced, in whole, or in part. The information contained in this podcast is not financial research, nor a product of Stephens Research. Stephens does not make any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast, and any liability therefore is expressly disclaimed. The views expressed in this podcast are not necessarily those of Stephens, and Stephens is not providing any investment, financial, economic, legal, accounting, or tax advice, or recommendations in this podcast. In addition, the downloading of this podcast by any listener does not make that listener a client of Stephens.” /episode/index/show/stephens/id/5154666

005: Marty Rhodes, President and CEO of  Stephens Insurance — Part 2 03/09/2017

005: Marty Rhodes, President and CEO of  Stephens Insurance — Part 2 Marty Rhodes, President and CEO of Stephens Insurance, continues the conversation with Frank Thomas in this episode of Stephens Viewpoints. Frank and Marty discuss insurance capacity, loss control, risk management, and how Stephens builds its teams of loss control engineers, and the loss control services they provide. Listen in to hear more. Key Takeaways: [:34] Marty talks about insurance capacity, in relation to recent storms. Even a Katrina-sized event would not ‘move the needle,’ in the property marketplace today. [2:13] Marty contrasts individual loss catastrophes against large area catastrophes. While Katrina certainly qualified as a large catastrophe, the current policyholder surplus is more than ample for anything less than multiple major events throughout the year. [3:58] Stephens brokers communicate frequently with clients, giving recommendations for preventive measures, loss control, and response action items for catastrophes. [4:51] Stephens loss control engineers help educate clients on construction codes for Tier 1 coastal areas subject to hurricanes. [5:31] Loss control engineers educate workplace clients. Middle market and smaller business use this service. Stephens loss control engineers are qualified to give mock OSHA inspections, so clients can correct deficiencies, and work to prevent incidents. [7:41] Marty talks about how much time loss control engineers spent in visiting and educating the first client of the Risk Management Unit in 2009. Loss control is essential. [9:15] Depending on the complexity of the account, Stephens loss control engineers schedule visits to the various sites, and also communicate with clients, between visits. [10:26] Loss control engineers understand OSHA regulations, and the issues of the client sector they serve. Stephens loss control engineers are highly experienced. [11:06] Stephens Insurance is relationship-driven. Stephens builds teams of experts in the sectors they cover. Last year transportation was their fastest-growing client sector; oil and gas, and public utilities are major sectors, and hospitality is quickly growing. They have teams of risk management experts in each of these sectors. [13:18] In our next episode, we’ll be discussing notable upcoming changes in the insurance industry businesses should watch for. [13:27] For more information, please contact Stephens Insurance at (501) 377-2000. Mentioned in This Episode: Insurance products offered through Stephens Insurance, LLC., National Producer Number 8844362. Securities offered through Stephens, Inc., Member NYSE, SIPC. “This podcast should not be copied, distributed, published, or reproduced, in whole, or in part. The information contained in this podcast is not financial research, nor a product of Stephens Research. Stephens does not make any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast, and any liability therefore is expressly disclaimed. The views expressed in this podcast are not necessarily those of Stephens, and Stephens is not providing any investment, financial, economic, legal, accounting, or tax advice, or recommendations in this podcast. In addition, the downloading of this podcast by any listener does not make that listener a client of Stephens.” /episode/index/show/stephens/id/5154656

004: Marty Rhodes, President and CEO of  Stephens Insurance 03/09/2017

004: Marty Rhodes, President and CEO of  Stephens Insurance Marty Rhodes, President and CEO of Stephens Insurance, joins Frank Thomas in this episode of Stephens Viewpoints. Frank and Marty discuss the beginnings of Stephens Insurance and the array of services Stephens Insurance currently offers. They also discuss the mergers and acquisitions trend in the insurance industry, and what companies should look for in a provider, for their risks. Listen in to hear more. Key Takeaways: [:37] Stephens Insurance was formed in 1987, serving life and health insurance clients. In 2005, Marty joined the company, with a background in property and casualty. Stephens built a property and casualty practice as well, and has grown significantly. [1:20] Stephens Insurance clients are broadly varied. One carries $7.5 Billion in coverage. Some clients have tens of thousands of employees; some have 10. [2:01] What are the main industry sectors that Stephens Insurance serves? [2:31] Stephens Insurance offers employee benefits, commercial insurance, personal insurance, and all facets of brokerage business. [3:00] Marty explains how the insurance industry survives economic downturns. [4:37] Stephens Insurance has a robust platform, including specialists in data analytics, risk management, and in the various industry sectors they cover. [5:53] Marty talks about the importance of the oil and gas industry to Stephens Insurance. [6:51] What does big data contribute to the insurance process? Marty makes it clear. [7:37] Consolidation in the insurance industry creates fewer choices for the clients, and company cultures do not always match. Stephens Insurance looks at additions to the group to see first if they fit into the client-driven, service-driven Stephens culture. [8:50] Are insurance mergers and acquisitions approaching a bubble? Marty ties their sustainability to low interest rates. How long will rates stay low? [9:55] Companies searching for a provider should look for a team that is concentrated on servicing their needs, with a large platform that will perform all the functions their risks require, such as good loss control engineering, risk management experience, claims advocacy, management liability, cyber and fiduciary liabilities, and so on. [11:03] For more information, please contact Stephens Insurance at (501) 377-2000. Mentioned in This Episode: Insurance products offered through Stephens Insurance, LLC., National Producer Number 8844362. Securities offered through Stephens, Inc., Member NYSE, SIPC. “This podcast should not be copied, distributed, published, or reproduced, in whole, or in part. The information contained in this podcast is not financial research, nor a product of Stephens Research. Stephens does not make any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast, and any liability therefore is expressly disclaimed. The views expressed in this podcast are not necessarily those of Stephens, and Stephens is not providing any investment, financial, economic, legal, accounting, or tax advice, or recommendations in this podcast. In addition, the downloading of this podcast by any listener does not make that listener a client of Stephens.” y. /episode/index/show/stephens/id/5154649

003: Mitch Harless, Senior Vice President, Claims Management, Part 3 03/03/2017

002: Mitch Harless, Senior Vice President, Claims Management, Part 2 03/03/2017

002: Mitch Harless, Senior Vice President, Claims Management, Part 2 Mitch Harless, Senior Vice President for Claims Management, continues the conversation as Frank’s guest in this episode of Stephens Viewpoints. Frank and Mitch look at a case study — the contractual dispute from the Deepwater Horizon disaster of 2010, and the insurance claims at its center. An indemnification specialist is an important adviser to help clients understand oil patch indemnification and mutual indemnification agreements, both before and after an incident. Listen to hear more. Key Takeaways: [:26] Mitch Harless reveals the focus of the contractual dispute between the parties from the Deepwater Horizon disaster of 2010: environmental damage! Whose tower of insurance was at the center of the dispute? [1:00] The incident occurred in April, 2010. In November, 2011 a District Court issued a ruling that BP could not access Transocean’s $750 million tower of insurance. [1:53] High-value disputes become complex, and that was not the end. The United States Court of Appeals for the Fifth Circuit, in New Orleans, heard an appeal. In March 2013, they reversed the ruling of the District Court, in favor of BP. [2:59] Transocean asked the Circuit Court of Appeals for reconsideration, to hear from the Texas Supreme Court. In August 2013, the Fifth Circuit withdrew its March opinion. How did they involve the Texas Supreme Court? [3:55] The Texas Supreme Court examined three questions certified by the U.S. Court of Appeals for the Fifth Circuit. In February, 2015, the Texas Supreme Court answered those three questions. What was the effect of their answers? [4:36] Transocean was able to preserve for themselves their $750 million tower of insurance. [4:44] Did this dispute have more of an impact on the legal process or on insurance practices? This extreme example documents the dire financial ramifications for parties of indemnification agreements. [5:15] What changes did the insurance industry make after the Deepwater Horizon disaster of 2010? What is the importance of indemnification agreements today? [6:01] Next and final episode of this discussion: How specialists shed light on the murkier aspects of the indemnification process for stakeholders! Mentioned in This Episode: /episode/index/show/stephens/id/5137361

001: Mitch Harless, Senior Vice President, Claims Management 03/02/2017

001: Mitch Harless, Senior Vice President, Claims Management Mitch Harless, Senior Vice President for Claims Management, is Frank’s guest in this episode of Stephens Viewpoints. Frank and Mitch discuss oil field insurance issues, and why it is important to understand oil patch indemnification and mutual indemnification agreements, both before and after an incident. Listen to hear more. Key Takeaways: [:41] Mitch Harless tells of his career path in the Property & Casualty insurance industry, from 1983 until today. [1:43] Mitch spent 20 years on the carrier side focused on the oil and gas industry. [2:14] What are the complexities of oil patch indemnification in the oil services sector? [2:54] What are the three key businesses involved in drilling an oil well? With which parties does Stephens normally interact? [3:44] There are two typical contracts in the oil and gas industry for drilling a well: a drilling contract, usually by the IADC, and a Master Service Agreement, or MSA. What do they have in common? [4:25] Mitch describes knock-for-knock, or mutual indemnification agreements. [5:10] Stephens’ clients look to Stephens for expertise in the nuances of indemnification agreements as they pertain to the oil and gas industry. [5:58] The claims management expert offers pre-loss reviews of contracts and indemnification, and post-loss claims management practices in the event of a claim. [6:55] Mitch gives additional detail about knock-for-knock claims. The focus is on which employee, belonging to which employer, was injured in the incident. [7:47] As a diversified agent, Stephens might represent either the operator, or the service contractors. [8:27] The indemnification process is very complex. A number of states have anti-indemnification statutes, which have a compelling effect on an indemnification agreement. Case law, such as Corbett, adds to the complexity. [9:20] Next episode: Study of the fallout from the Deepwater Horizon disaster of 2010! Mentioned in This Episode: /episode/index/show/stephens/id/5134084

Stephens

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