CEO of Legal & General America, Mark Holweger - Dominating Term Life Insurance
Manage episode 442042428 series 3488617
Welcome to the first episode of the What’s Your Ethos podcast. In each episode, we’ll focus on topics affecting the life insurance industry, its challenges, and innovations, and we will provide a space to hear from thought leaders in the insurance industry today.
For our first episode, host Peter Colis, CEO of Ethos, welcomes Mark Holweger, President and CEO of Legal and General America (a UK-based company), the largest issuer of term life insurance in the U.S. Mark discusses their single product focus, innovation across the customer buying journey, recruiting with a mission of protecting families, and as an unexpected bonus - secrets to cooking delicious curries!
Mark has been in the insurance industry for three decades, in both the European and US markets. As the President and CEO of Legal & General America, he is responsible for the day-to-day operations of the business and continued service excellence, distribution expansion and achievement of the digital transformation strategy. Prior to working at LGA, he was Managing Director of Partnerships at Legal & General Insurance in the UK. Mark serves as a Board Member of LIDMA (Life Insurance Direct Marketing Association), he’s on the Forum 500 Board of Governors for ACLI (American Council of Life Insurers) and is a director on the boards of Banner Life Insurance Company and William Penn Life Insurance Company of New York. Prior to joining Legal & General, Mark was a co-founder of Coverwise.com, an International digital insurance broker, and held various senior roles at other insurers including RSA Insurance Group UK.
The What’s Your Ethos podcast is brought to you by Ethos Life and is hosted by Ethos’ CEO Peter Colis. Founded in 2016, Ethos is a technology company making it easier than ever for everyone to protect their families with life insurance online, in minutes, without any medical exams. Ethos has created the insurance industry's most advanced proprietary technology, eliminating the traditional barriers to life insurance by developing instant and accessible products.
Discussion points:
- Mark’s backstory and journey from Wrexham, Wales to P&C companies, to Legal & General
- The CEO role at Legal & General and moving to the US
- Biggest accomplishments - only achievable because of your customers and teams
- Legal & General - its products and business model
- No more paper/going digital, utilizing data, and reducing inconveniences for the customer
- Changes coming in the future - tech and data continue to make things faster and easier
- Term life is like a life jacket at sea
- Legal & General’s employees - a small, efficient group in relation to some other giants
- Day-to-day leadership and teamwork - pushing and challenging each other, communication, listening
- Mark’s most and least favorite aspects - the people, and having to travel so much
- Technology and digital provide a challenge in cultures - to both the customers and agents
- Lightning round questions
- Self-responsibility
Resources:
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