Ethics Summit MeetingSo This Is What CEFLI’s Been Doing!

Don Walters (CEFLI’s President and CEO) and John Travagline (CEFLI’s CCO and COO) took time out to provide a recap of the CEFLI events in 2011 to the life insurance industry, and they also gave a tour of CEFLI’s newly enhanced website.  Given the many issues Compliance and Ethics professionals are faced with today…

Ethics Summit MeetingSo This Is What CEFLI’s Been Doing!

Don Walters (CEFLI’s President and CEO) and John Travagline (CEFLI’s CCO and COO) took time out to provide a recap of the CEFLI events in 2011 to the life insurance industry, and they also gave a tour of CEFLI’s newly enhanced website.  Given the many issues Compliance and Ethics professionals are faced with today, CEFLI wanted to further communicate the types of resources that are offered for their benefit.  “CEFLI is an organization with the specific mission to serve the needs of the compliance and ethics professionals in the life insurance industry”, stated Don Walters; “and we wanted to further display what our resources are and how C&E professionals can use them”.  “Here was an opportunity to frame for the industry our goal of establishing a one-stop approach for the C&E professionals through educational opportunities, available reference materials, continual news information and forums for valuable industry interactions”.

To begin, John Travagline gave the rationale around the popular educational webinar series, and why it has been viewed so positively.  A key ingredient to its success has been the participation of applicable regulators who can share perspectives on the topic under review.  Companies like to hear what the regulators may be thinking on key compliance and ethics challenges facing the industry.  He also provided a recap with some of the key highlights of the webinars ranging from Annuity Suitability to Life Insurance Claims to Complaint Handling.  “What it comes down to is providing current and relevant topics, presenting various positions including a regulatory perspective and making it easy and cost efficient for C&E professionals to attend”, commented John.  “The feedback we’ve received indicates strong support for our format of first half – regulators; second half – company experts…and folks are finding a lot of value with this!”

The webinars for the industry have brought experienced regulators to the table.  Discussions on the enhanced Annuity Suitability Model Regulation were provided by state regulators Michael Honeck (Wisconsin) and Jim Mumford (Iowa).  Both were instrumental in the drafting of the Model Regulation, and both of their states were among the first to adopt the Model Regulation.  This provided for some very insightful comments to the industry and some excellent Q&A. 

In addition, CEFLI and the NAIC co-hosted  a webinar on Social Media to state market conduct examiners across the country.  To conduct these sessions, CEFLI teamed up with several experienced state regulators to address the various issues involving social media, including a detailed discussion regarding the challenges companies are facing as they look to implement the use of social media within their business model.  More info regarding how states will handle social media and some solutions regarding the implementation of social media will be front and center at CEFLI’s upcoming Summit Meeting on Social Media on October 6, 2011 in Washington, DC.

CEFLI’s first summit meeting on Ethics held in April produced an All-Star lineup of presenters from leaders in Business Ethics to Chief Ethics Officers to various state and federal regulators with pertinent views on ethics.  The program gave an overview of ethics broadly across all industries and focused on ethics and ethics-related issues in the life insurance industry.  Thought leaders with a wealth of knowledge and experience in business ethics reviewed the current state of ethical challenges in today’s marketplace and were candid with their observations.

Then the webinar discussion turned to the enhanced website… and ultimately CEFLI’s promise to provide a “forum that connects”. 

CEFLI’s website provides a comprehensive repository of information and is great reference for the C&E professional.  Whether it is the News Center, various research reports, benchmarking studies or access to the Annuity Suitability Clearinghouse, CEFLI gives you the portal for this information via their website.  John provided an overview of the website and took the audience on an inside look as to how the website can be effectively used.  The first step is to take advantage of the free registration to the site.  This is important as registration (which is only allowed for professionals in the life insurance industry) gives you the ability to link to in depth info, such as slides from the webinars, benchmarking surveys and the research info on social media.

John and Don also displayed the interactive functionality that comprises the site, and how ultimately CEFLI will bring C&E professionals together in productive discussions and interactions through various means including an interactive discussion board.

One participant to the webinar summed it up best, “appreciate what I have seen/heard so far from CEFLI – keep up the good work”…and that’s what we plan to do.