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Bryan C. Dunn, CLU, ChFC
President and Chief Executive Officer
The Lafayette Life Insurance Company has built a reputation for offering products and services for the affluent, mass affluent and small business markets in a highly personalized style designed to meet the needs of independent producers.
In 2016, the company’s total annuity sales topped $181 million, in part due to the prior year’s introduction of a new single premium fixed indexed annuity, Marquis SP. GAAP assets increased 8 percent over the prior year, achieving a new record of $5.2 billion. Pre-tax operating income experienced a modest increase while total life premiums increased to nearly $400 million. While retirement plan sales remained level, Lafayette Life produced an 18 percent increase in life premium from qualified plans.
Lafayette Life’s products were enhanced to deliver additional benefits to producers and policyowners.
Lafayette Life made a number of advances in training and support designed to help producers sharpen their competitive edge. The company’s new online library of on-demand multimedia training materials continues to expand with a wider range of topics in text, video and podcast formats.
The Advanced Markets team responded to increased demand for retirement planning by introducing a comprehensive retirement income planning system and delivering webinars on retirement income, estate and business planning.
The company’s Retirement Services division conducted two-day pension schools for producers new to serving retirement clients and began development of a new advanced pension school for 2017.
Collaboration among Lafayette Life’s marketing, technology, product, sales and operations areas spurred advances in policyowner, producer and back-office support in 2016.
Foremost was the launch of a new policyowner website offering customers powerful self-service features and enhanced access to policy information through improved navigation and site aesthetics.
Refinements to the policyowner communication process leveraged the latest software for electronic correspondence delivery. Online capabilities were expanded to support producers’ policy proposal submissions to the company’s Retirement Services division from virtually any traditional or mobile device. The company also added electronic functionality to enhance producers’ ability to provide clients in-force illustrations to aid policy adjustments and changes.
By focusing all its resources — human, financial, information and technology — on supporting its independent producers and their clients, Lafayette Life continues to expand its ability to help both producers and policyholders better prepare for a financially secure and successful future.