Filed Under:Markets, Company News

BenefitMall unveils new brand

ALSO: industry news from Digital Insurance, Genworth, American General, Guardian, Life Sales, Sun Life and Sentinel Security Life

BenefitMall and CompuPay, merged in 2012, have united under the BenefitMall brand.

BenefitMall works with a network of 20,000 brokers and CPAs, to deliver employee benefits and payroll services to more than 200,000 businesses in the U.S. 

BenefitMall is a complete resource that helps employers identify and provide benefits solutions for their employees ranging from medical and dental plans to accurate and timely payroll.

In other industry news:

Digital Insurance completed an exclusive license agreement with Dominion Analytics to employ a suite of proprietary tools that help employers objectively assess, compare and gain more value from their benefits plans.

As part of the contract, Ron Bargatze, principal of Dominion Analytics, and Paige Smith, senior analyst and team leader, will join Digital Insurance. Dominion Analytics will continue operations to further evolve the tools and serve existing clients.

Digital Insurance also acquired Fallick Insurance Services of Mountain View, Calif. Fallick Insurance joins the Los Altos/Silicon Valley office of Digital Benefit Advisors (DBA), a division of Digital Insurance. As part of DBA, clients of Fallick Insurance will be supported by enhanced services and expanded resources, including direct policy holder access to a Customer Advocate Center, where knowledgeable and licensed Digital representatives answer benefits and policy questions, enabling employers to free-up overworked HR departments.

 

Genworth recently launched Asset Builder, its first Index Universal Life insurance product. It combines a death benefit with tax-deferred cash accumulation and an optional accelerated benefit rider for long term care services.

Genworth developed its new IUL in response to consumers' demand for life insurance that is flexible enough to meet multiple needs in a single product. It also addresses consumers' desire for more growth potential than is currently available with traditional fixed life insurance products and less risk than variable universal life insurance.

The result, the company says, is an index UL insurance product that combines a death benefit for beneficiaries with:

  • The opportunity for greater policy value growth by linking the crediting strategy with the S&P 500 Index;
  • Protection from market downside:  Even if the percentage change in the S&P 500 Index is negative, the minimum crediting rate is 0 percent. Monthly charges and fees will continue regardless of the crediting rate and will reduce policy value;
  • Supplemental income for retirement:  If the policy generates sufficient cash values later in life, policyowners can take withdrawals and policy loans to supplement their income; and
  • Optional accelerated benefit rider for long term care services, available at an additional cost.

 

Chuck Van DevanderAmerican General Life Companies (American General), a part of AIG, named Charles "Chuck" Van Devander senior vice president, Advanced Marketing and Conceptual Product Strategies.

He most recently served as senior vice president, Distribution Services for Aviva USA, where he was responsible for all sales support efforts for the life insurance and annuity businesses. Before joining Aviva in 2006, he served as vice president, Advanced Planning for New York Life Insurance Company. Prior to that, he served in various leadership roles with ING U.S. Financial Services, most recently as vice president, Compliance and associate general counsel. Van Devander earned his bachelor's degree in accounting from Arizona State University, and both a Master of Laws and a Juris Doctor from the University of Denver. He also holds Chartered Life Underwriter and Chartered Financial Consultant designations and has passed the Certified Public Accountant exam. In addition, he holds FINRA Series 6, 26 and 63 licenses and is a certified LOMA and CLU instructor as well as a certified Insurance, Legal and Accounting Continuing Education Instructor in multiple states.

The Guardian Insurance & Annuity Company Inc. (GIAC), a wholly-owned subsidiary of The Guardian Life Insurance Company of America, launched 401k.guardianlife.com, a plan participant website to help people better prepare for retirement.

The new website provides access to educational resources to help plan participants plan, save and invest for their future. The educational articles, retirement planning tutorials, online saving and retirement calculators, videos and infographics on the site were all designed to help plan participants learn more about retirement planning while addressing answers to questions they may have.

The site also helps participants identify their investment style by determining if they like to do the investing themselves or have it done for them. Do-it-for-me investors might consider target date funds, a balanced account or a managed account from a professional money manager if they are new to investing or uncomfortable managing investments on their own.  Do-it-myself investors can get started by taking the risk assessment quiz to help determine how best to allocate plan investments and utilize many of the educational resources available to help gain a better understanding of investment and asset allocation basics.

The Learning Center allows users to search for content by life-stage or by medium — articles, videos, calculators and tutorials — so plan participants can completely customize the experience based on their needs and preferences.

Guardian Retirement Solutions is also introducing a new magazine-style enrollment kit, which offers guidance and insights to three basic retirement planning questions: How do I plan for retirement? Why do I need to save? Where do I invest?

 

Life Sales LLC, a national annuity and life insurance field marketing organization, added Gino Wang as the company’s new vice president of Sales, Lindsay Comins as national recruiting director, and Kevin King as marketing communications coordinator. Also, compliance officer Steve Cervantes will be promoted to designated supervisory principal for Questar Capital Corp. and Quester Asset Management.

Wang will oversee the marketing directors and sales team at Life Sales. He previously held upper management positions at Combined Insurance, Farmers Insurance, Nationwide, and Automobile Club of Southern California.

Comins, the third recruiter to join the Life Sales team, will use her experience from Transamerica to bring more agents into the fold.

King comes to Life Sales via Legacy Marketing Group and Crittenden Research Inc., having worked in marketing support capacities, and will serve the company’s growing communications staff.

 

The U.S. business group of Sun Life Financial Inc. (NYSE:SLF, TSX:SLF) launched an integrated campaign to further expand the carrier’s  position in group and voluntary employee benefits.

“Wake Up,” created by Doremus New York, is aimed at helping people understand why employee benefits matter, including small and large employers and their employees, insurance brokers, human resource decision-makers and Sun Life employees. Tapping multiple media markets, the campaign includes print, digital, social, events and TV to illustrate the benefit of Sun Life benefits, namely, plain talk, clear writing, prompt answers and timely payments.

 

Sentinel Security Life selected iGO, an electronic fillable form accessible via a cloud-based platform from iPipeline, to automate and accelerate the processing of their Final Expense products. The solution will be used by 13,000+ insurance producers selling Sentinel Security’s New Vantage WL products in 25 states. The iGO e-App deployment of the solution also includes comprehensive call center integration with their third-party provider, Apptical.

iPipeline provides on-demand marketing, selling and processing solutions for insurance carriers, distributors, producers and financial professionals.

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