MetLife’s New
Head of Global
Technology
Study: Financial Advisers Fail to
Include Life Insurance in Plans
BLOGS
BEST
Martin Lippert, former chief opera-
tions and technology officer at Citi-
group, has been named EVP and head
of global technology at MetLife.
Lippert reports to President and
CEO Steven Kandarian and is now a
member of MetLife’s executive group.
Lippert’s background prior to join-
ing MetLife shows a depth of technol-
ogy experience.
He spent 16 years in the IT depart-
ment at Mellon Bank and 11 years
as vice chairman and group head of
global technology and operations at
Royal Bank of Canada. Most recently,
Lippert served as chief operations and
technology officer for Citigroup. Ac-
cording to MetLife, among his accom-
plishments at Citigroup was reposition-
ing the division to more effectively
transfer strengths from one geography
to another.
“Marty has long been acknowl-
edged as one of the most innovative
technology thinkers in financial ser-
vices,” Kandarian said. “His 30 years
of experience in leading technology
change will help MetLife successfully
complete its transformation from the
leading domestic life insurer to a truly
global financial services enterprise.”
According to a survey, only 49 percent
of adults who currently have a financial
adviser and a financial plan have ever dis-
cussed adding life insurance to their plans.
from: Joe McKendrick,
June 16, 2011
topic: Sustainable
Compliance is
Achievable, Thanks
to Analytics
WORKERS’ COMP CLAIMS
Liberty Mutual Improves Predictive Model
Liberty Mutual has enhanced its
predictive model used to analyze work-
ers’ compensation claims, the company
reports.
The insurer says it improved the
model, first developed in 2004, in order
to identify the small percentage of work-
ers’ compensation claims at risk to drive
the majority of total claim costs.
Features of Liberty Mutual’s next-
generation predictive model include
broader data capture, more sophisticated
multivariate analysis, more frequent
model runs and tools that enable claims
professionals to take action sooner.
... No industry on this planet
is more burdened with
compliance mandates than the
insurance industry.
There are two related
challenges when it comes to
compliance: the amount of staff
time spent manually compiling
and producing reports, and the
value of such efforts in
advancing the business.
In terms of manual one-off
reporting, a survey of 211
applications managers I was
involved in a couple of years
ago found that the average
enterprise required at least five
full-time employees to handle
database monitoring and
compliance reporting - which
translates into a fully-loaded
cost of several hundred
thousand dollars per year,
maybe even approaching half a
million dollars depending on the
organization. More automation
would alleviate some of these
costs, as well as free up staff for
more productive activities.
A while back, I also had the
opportunity to speak with Lee
Dittmar, a principal with
Deloitte Consulting, who
proposed a better way to look
at compliance, he called it
“sustainable compliance.” His
message was that with the
tools and technologies now at
our disposal, compliance can
more easily be baked into
business processes, and even
improve those processes…
Join the conversation:
http://www.insurancenet-
working.com/blogs/
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