Regulatory, Market and Technological Changes Top Industry Executive Concerns, LIMRA Reports

LIMRA is looking for 25 up-and-coming leaders (under age 40) who are driving innovation within their companies.

WINDSOR, Conn., June 1, 2016—A recent LIMRA survey of financial services executives revealed how changes in regulation, advances in technology, and shifts in demographics and consumer expectations are challenging their current business practices.

Earlier this year, LIMRA asked executives to name the single greatest challenge facing the industry. The top three responses were:

Aligning distribution to expand market opportunities (32%)
Adapting to regulatory changes (26%)

Becoming digitally agile and capable (23%)

As the industry faces so many external changes, it will be necessary for companies to re-evaluate their business practices to incorporate new technology and strategies. That’s where innovation comes in.

For 100 years, LIMRA has been showcasing best practices and innovation to help advance the industry. As part of its 100^th anniversary celebration, LIMRA is accepting nominations for 25 rising stars under age 40 in the financial services industry who have introduced an innovative approach to a business challenge. For example:

Do you know someone who has been instrumental in the adoption of new technology, like Big Data or predictive analytics?
Has someone spearheaded a program to improve an aspect of customer engagement, such as contact centers, websites, or online chat?
Who has created a new tool or process to help advisors be more efficient and effective, such as lead generation or training programs?

LIMRA member company employees under age 40 (born after June 1, 1976) who are bringing new ideas and inspiration to their companies are eligible. All nominations should include a description of why the nominee is a rising star and a high-resolution photo.

Contest Deadline Extended! The deadline for entries is 5 p.m. EDT, July 15, 2016. A panel of judges will review entries and notify the winners.

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About LIMRA

Since 1916, LIMRA, a worldwide research, learning and development organization, has been the trusted source of industry knowledge, helping more than 850 insurance and financial services companies in 64 countries.