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An Underwriting Profile of Jackson National Life. Texas Wide Underwriting Conference April 4, 2011. Everett W Kunzelman Vice President & Chief Underwriter Jackson National Life. Jackson National. Jackson National founded in 1961 by Tony Pasant In the 1980’s: Very big in term insurance - PowerPoint PPT Presentation
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An Underwriting Profile of Jackson National Life
Texas Wide Underwriting Conference
April 4, 2011
Everett W Kunzelman
Vice President & Chief Underwriter
Jackson National Life
• Jackson National founded in 1961 by Tony Pasant
• In the 1980’s: Very big in term insurance
• Transition in the 1990’s to accumulation products
• Added variable UL in 2000’s
• Today, we do about 17,000 to 20,000 life applications per
year
• (Jackson also does fixed, indexed and variable annuity
products, own broker dealers, provide investments services,
sell other investment products.)
• (Jackson has over 3,000 employees in eleven locations.)
Jackson National
• Many of the underwriters at Jackson today have been here
since the 1980’s
• 15 underwriters, 12 are remote
• They average almost 22 years of underwriting experience
(least: three between 11 and 12 years underwriting)
• Only one was trained elsewhere and two worked elsewhere
as underwriters
• Thirteen have life insurance experience other than
underwriting
Our Underwriters
• 5 FALU, 3 AALU, 4 within an exam of FALU
• 9 college graduates
• 13 ACS
• 12 ECG certified
• 1 FINRA licensed
• Majors:
• Business, Education, Biology, Physical Education,
Communication, Criminal Justice, Social Work,
Psychology, English, Medical Administration, History
Degrees and Such
• Decision maker
• Communicator
• Team player
• Flexible
• Student
• Servant mentality
• Future? Degree, ALU, more on communication
Underwriter Selection
The Company – Out Standing in their Field
• Review several aspects of what we do, including…
• Philosophy
• Organization
• System
• Education
• Management
• Team
Operations
Fish Philosophy - NOT
•Make their day
•Be present
•Choose your attitude
•Have fun
Fish Philosophy
• Complete
• Balanced
• Fair
• Honors commitments
• Marketed
• Appropriate
• Risk-based
Underwriting Philosophy
• Two teams by distribution
• Not much crossing between teams to maintain
“relationships” with agents
• Remote (12 of 15, all “local”)
• One day a month inside for remote (optional) and
reviews in person
• Complicated vacation schedule
Organization & Structure
• “Home-grown” NB desktop system now about 12
years old
• Paperless for 12 years
• No expert system (except some data scoring on
labs and measurements)
• Web use
• Cyber mainframe
• Interesting Citrix-based server environment
System
• Medical Director – 2010-2011 President of AAIM
• Chief Underwriter – 2010-2011 President of AHOU
• Seminars
• Webinars
• Meetings & networking
• Topics created in Jackson library by Doc
• Diabetes, Anemia, OSA, Chronic Pain
• LVH, Diastolic Dysfunction, Prostate Cancer
• Cognition, elderly Issues, Hepatitis A, B & C
• Jackson “in-house” studies lead to changes
• A1c, prostate cancer, preferred underwriting examples
Education
• Daily email (stats, FDA news, foreign travel updates, medicine
in the news, other risk topics, competition news, grammar, IU
news, more)
• Monthly medical seminar
• Monthly conference calls
• Doc’s and Ev’s Notes
• LUG
• The Event
• Next year: More nonmedical seminars
More Learning and Interaction
Izzy and Maya
• Open Door
• Earned trust
• Challenges and Changes
• “Forced” Referrals
• Team
• Family
• Administrative Assistant
Management
RESPECT
• Words that define the team – over 50 submitted
• Availability (to customers)
• Experience
• Teamwork
• Professionalism
• Nice work challenging each other
• Nice work helping each other
The Team
The Team
• Write more simply and clearly
• Be more specific
• More one-on-one meetings
• Make the vacation policy stricter
• More communication on company projects
• Taller, younger, better clothes, better hair, better
musical taste
Suggestions Made for the Chief Underwriter…
Perfection in the Eyes of the Locals
Questions, Comments, Thoughts, etc.?