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Archive December 2024
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Watch the Keynote Fireside Chat: Insights into Life Expectancy Reports and Methodologies
Click here to view this session.
At LISA's 30th Annual Life Settlement Conference in Miami, FL, on October 25, attendees were treated to an engaging and thought-provoking keynote fireside chat that delved into the intricacies of life expectancy reports. This pivotal session, featuring industry leaders and moderated by Adam Balinsky, President of Fifth Season Investments, explored the various inputs and methodologies behind life expectancy assessments, a cornerstone of the life settlement market.
Alan H. Buerger, Executive Chairman of Coventry, and S. Jay Olshansky, Chief Scientist at Lapetus Solutions, Inc., brought their unique perspectives and expertise to the table. Together, they engaged in a passionate discussion about the challenges and innovations in creating accurate and reliable life expectancy reports. Topics included the scientific underpinnings, predictive analytics, and the evolving approaches used to generate these critical evaluations, which influence decision-making across the industry.
This dynamic exchange offered attendees valuable insights into how differing methodologies impact the life settlement market, fostering a deeper understanding of this essential component of the field.
Click here to view this session.
LISA Charts a Strategic Path Forward
The work of LISA's Strategic Planning Committee has recently received attention in the press, highlighting the association's dedication to enhancing the life settlement market and advancing the organization's mission to promote the development, integrity, and reputation of the life settlement industry and advocate for a competitive marketplace.
"We are excited to explain to the industry how we are evolving in order to better support our members and the life settlement industry, at large," LISA executive director, Bryan Nicholson, wrote in Life Risk News. "We look forward to continuing to work with life settlement participants to deliver against those goals."
Collaborating with Tecker International, LISA conducted a comprehensive survey among its members to assess industry perspectives and pinpoint opportunities for improvement. The survey revealed optimism within the sector: 59% of respondents predict stronger market conditions in the next three to five years, while 70% expect a favorable economic climate.
The insights gathered have guided LISA's Strategic Planning Committee in refining the organization's mission and vision. The committee is focused on addressing industry challenges, advocating for best practices, and promoting a competitive, transparent marketplace. These efforts align with the needs of stakeholders and foster sustainable growth.
LISA's proactive approach underscores its commitment to adapting to industry dynamics, ensuring the life settlement market continues to thrive and evolve.
To learn more about the outcomes of LISA's strategic planning process, read this article in Life Risk News.
Updated NCOIL Resolution Provides a Win for the Life Settlement Industry
The National Council of Insurance Legislators (NCOIL) has updated its Life Settlements Model Act to streamline life settlement transactions. The amendments mandate that life insurance companies accept electronically delivered requests for verification of coverage and promptly confirm changes in policy ownership or beneficiaries via electronic means. These changes aim to reduce administrative delays and enhance efficiency in the life settlement process.This is a win for the industry and another example of the pivotal role that LISA plays in the fostering transparency and efficiency within the life settlement industry.
"The secondary market for life settlements is growing over time, in terms of the number of policies transacted and face value. But far too frequently, we have had situations where the policyholder decided not to sell because they were frustrated with the process," said John Dallas, LISA Board Chair and CEO of Berkshire Settlements, to Life Risk News. "These amendments should reduce these situations where a transaction falls away, meaning that more American seniors will realize the benefit of the life settlement market."
The Life Insurance Settlement Association (LISA) played a pivotal role in advocating for these updates. By collaborating with NCOIL, LISA ensured that the revisions address industry challenges, particularly those related to outdated administrative procedures. LISA's efforts have been instrumental in modernizing the regulatory framework, thereby facilitating smoother transactions and promoting greater transparency within the life settlement market.
These developments are expected to benefit policy owners and investors by expediting processes and reducing bureaucratic hurdles, reflecting a significant advancement in the life settlement industry's operational standards.
For more information, read this article from Life Risk News.