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Life Settlements roundup: LISA leaks spring conference agenda; broker portal, calculator tools debut

Brian Anderson

The Life Insurance Settlement Association (LISA) just announced a robust agenda, focused on regulatory developments surrounding life insurance and retirement security issues affecting seniors, for its 24th annual Spring Life Settlement Conference. The conference will be held May 6-8 at the Willard InterContinental Washington in Washington, D.C.

“We’re excited to return to Washington, D.C. for this year’s Spring Conference, which is an appropriate destination in light of the significant recent legislative and regulatory developments that have improved market conditions for life settlement transactions,” said Darwin M. Bayston, CFA, president and chief executive officer of LISA. “This year’s agenda will take a deep dive into some of these specific issues and the ongoing efforts to make sure that seniors are aware of all options available to them if they own a life insurance policy they no longer need or can afford.”

Some of the other featured sessions at the conference include:

  • “Insurance Regulation and the Latest at the NAIC” — Heather Eilers-Bowser, financial policy and legislative counsel for the National Association of Insurance Commissioners (NAIC), will provide an update on key initiatives underway at the NAIC.
  • “Regulatory Panel” — A panel of senior regulators from various state insurance departments will address issues pertinent to the life settlement industry, such as consumer disclosure laws and cost of insurance regulations.
  • “Playing Offense” — Derek Wooley, co-president of Nelson Taplin Goldwater, will discuss LISA’s pro-active legislative relations strategy designed to improve the life settlement marketplace and the protections it affords consumers.
  • “Electronic Health Records: How They Will Revolutionize Underwriting Risk Assessment” — Traci Davis, chief underwriting officer at Elevation Underwriting, will provide an overview of electronic health records and how they will replace traditional medical records as the most critical driver behind understanding an insured person’s profile.

In addition to the educational content, the conference will feature a number of professional networking opportunities for attendees to engage with each other outside of the event sessions.

This annual LISA-hosted event was one of the first professional gatherings of professionals in the life settlements industry when it debuted in 1995 and continues to bring together a wide range of industry participants – including life settlement providers, brokers, service providers and institutional investors.

Following an opening general session presented by Bayston and James W. Maxson, chairman of LISA, the keynote address will be delivered by a Capitol Hill insider who will discuss potential Congressional initiatives to improve the retirement security of Americans.

“As our industry continues to grow, it’s more important than ever for anyone who participates in the life settlement space – or is considering entrance into the industry – to stay on top of the latest regulatory developments that will shape our future and to connect with the leading players in the business,” Bayston said. “The Spring Life Settlement Conference is an essential forum where all of this information exchange and professional networking will take place.”

Discounted hotel rooms are available at the Willard InterContinental Washington for anyone who books by April 13, 2018. For more information, please go to www.lisa.org.

ALIR rolls out its Life Settlement Broker Portal, ALIR Broker Connect (ABC)

Addressing a fragmented and often inconsistent component of the life settlement market, ALIR rolled out its online portal ALIR Broker Connect (ABC) earlier this month. The ABC platform provides a simple online tool for life settlement brokers to quickly share case files including life expectancy reports, illustrations, policy data, and medical records for pricing. This facilitates quicker turnaround and funding of life settlement cases, and streamlined workflow for the life settlement broker community.

“Currently the life settlement broker market functions via a somewhat fractured and often proprietary means of sharing case data for pricing,” says Christopher Erwin, principal of ALIR LLC, a licensed life settlement provider based in Irvine, Calif. “Our team recognized the difficulties faced by life settlement brokers and chose to implement technology for a simple yet robust solution. We turned to the highly scalable Salesforce platform, which allows the ABC portal to consolidate the sharing of life settlement case data via a secure online form. Brokers can now quickly and easily make case files available and receive prompt policy pricing from ALIR.”

ALIR has coupled decades of experience working with life settlement Brokers and Providers, with a technical know-how, to help shore up a fundamental inefficiency in the industry. ALIR’s innovative approach to pricing and funding life settlements will prove to be an invaluable resource as the life settlement industry continues to grow into 2018.

ALIR offers a broad range of life settlement services, working both directly with policy owners, and life settlement community providing turnkey solutions and an extensive understanding of the market. Christopher Erwin, CEO of ALIR LLC, is an active member of the California Bar, a long-standing member of the Life Insurance Settlement Association (LISA), and holds memberships in the Orange County Bar Association and American Bar Association.

The new ALIR Broker Connect portal can be found on the ALIR website here: ALIR Broker Portal. For more information, visit http://alir.com.

Windsor Life Settlements debuts new “Life Settlement Calculator” for policyholders

Windsor Life Settlements, LLC unveiled its Life Settlement Calculator on April 10 with the goal of helping any life insurance policyholder get an instant estimate of their policy’s value on the secondary market.

In addition to providing instant estimates for policyholders, Windsor has also produced educational resources like the “Ultimate Guide To Life Settlements” with a two-part goal:

  1. Increase transparency about the life settlement process for the policyholders currently going through the process, by providing helpful information about topics like the new life settlement tax laws, which actually now benefit and even incentivize policyholders.
  2. Increase consumer awareness and confidence of the life settlement option by producing trustworthy resources that help policyholders make the best decision possible, even if that option is not a life settlement.
(PRNewsfoto/Windsor Life Settlements, LLC)

“Though consumer awareness is slowly on the rise, the fact is that in 2017 alone, approximately $112B in life insurance policies simply lapsed, meaning people are simply discarding extremely valuable assets that could otherwise financially benefit them and their families,” said Ken Kelly, CEO of Chicago-based Windsor Life Settlements. “It is a terrible shame, especially considering folks seeking life settlements often have a serious need for cash to cover medical expenses and retirement needs. Our job as a broker is to assist people by making them aware of all their options, including options outside of the life settlement space. One such option is an ‘Accelerated Death Benefit.’ This approach is how the industry establishes trust, which is always the first step in raising consumer awareness.”

For more information visit www.windsorlifesettlements.com.



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