Simplifying Life Insurance Through Digital Transformation

In this episode, former guests Kevin Cummer, Director of Life Products and Nick Rohan, Director of Partner Management, share how their strategy has played out, and what they have planned for the future.

TruStage (Madison, Wisc.) has been a successful and respected institution in the insurance industry for decades, known for its dedication to providing financial security and peace of mind to families across the United States. The company was formerly known as CUNA Mutual Group and was created to serve the needs of credit unions and their members.  The TruStage brand debuted about a decade ago as a foray into direct-to-consumer distribution, and just last year, 2023, it became the company’s single brand.

Kevin Cummer, Director of Life Products and Nick Rohan, Director of Partner Management at TruStage are making their second appearance as Life Accelerated guests, having previously spoken with us in 2022 about their efforts to simplify insurance.

In this episode, they share with us how their strategy has played out, and what they have planned for the future.

Nick speaks about recently reaching major milestones in the road map he and Kevin laid out when we last spoke, and how their completion showed pent up demand for the innovations they’ve made in the purchasing journey. He stressed the completion of an API suite that enables distribution partners to give customers a real-time purchasing experience.

This was an extremely gratifying conversation, where our guests were able to talk about how their plans have come to fruition.

Kevin stressed how innovation in both distribution and product has broadened TruStage’s reach. From its beginnings as a D-to-C play, TruStage has evolved into a B2BTC success, reaching more distribution partners and protecting more consumers in the middle market.

Nick talked about some of the challenges of innovating in a large insurance company, and he and Kevin shared how senior management’s support helped to minimize them.

Their teams developed considerable momentum through last year, and they enjoyed particular support from the company’s new CEO, Terrance Williams, who took on the role in June 2023.

Since Kevin and Nick’s work began in 2019, TruStage’s life insurance business has doubled, in significant measure because of the company’s new approach to distribution. The company now has $5.6 billion dollars of in-force coverage, which is all the more impressive given that TruStage doesn’t work in high-face-value amounts.

So, what does the future hold? Kevin and Nick both talked about the next frontier, both in continuing to expand their distribution partnerships and reach, and to continue innovating in both experience and product. Nick also hinted about the possibility of having a really good embedded experience story when we speak again. We look forward to that.

The Life Accelerated podcast is created in partnership with Equisoft. Don’t miss an episode! Subscribe today at https://www.equisoft.com/life-accelerated-podcast.

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