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Innovating Insurance to Empower Families with Fred Tavan, SVP and Chief Pricing Officer of Legal & General America
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Legal & General America is one of the nation's strongest life insurers, ranked number two for term life insurance providers in the US. Their sole focus is to safeguard families' financial well-being — and it has been for more than 70 years.
Fred Tavan, SVP and Chief Pricing Officer at Legal & General America joined the Life Accelerated podcast to share the importance of constantly reinventing yourself to stay ahead in a rapidly changing world, Legal & General America’s mission to offer good value life insurance coverage to as many US families as possible, the importance of embracing innovation and an omnichannel approach, and more.
Tune in to hear Fred and Legal & General America’s secrets on how they are taking over the life insurance industry.
Key Takeaways:
Continually reinvent yourself, embrace change, and seek personal and professional growth opportunities.
Embrace innovation and disruption to stay ahead of industry trends and leverage new technologies.
Be adaptable and responsive to market demands to reach and serve customers effectively.
Timestamps:
[00:00] Introduction to the episode
[00:47] Where Fred began in his career and his experiences along the way
[04:28] Who Legal & General America is, and what they’re aiming to do
[05:55] What Fred’s job is, and what it consists of
[08:32] Legal & General America’s omnichannel strategy
[12:05] What Fred sees as the opportunities for disruption and what is the role of innovation in LGA strategy
[14:27] How Fred would summarize the competitive environment for term life
[17:20] How important digital transformation is for reshaping the term life market
[18:20] How LGA has been succeeding in the past couple of years
[19:33] What success looks like for LGA within the next few years
[22:34] If Fred thinks term life as having more of an emphasis on the health and longevity of the policyholder rather than just their mortality
[23:48] Where we can expect LGA to rank in the term life market in the next five years
[24:33] Closing
Resources:
Connect with Fred on LinkedIn: https://www.linkedin.com/in/fred-tavan-022b2b9b/
Learn more about Legal & General America: https://www.lgamerica.com/
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