LEGAL & GENERAL AMERICA
& General America : Transforming the Life Insurance space
“ There is no one size fits all ‘ plug and play ’ business model solution . Just a couple of variables in a business model means it won ' t work in another country ”
MARK HOLWEGER PRESIDENT & CEO , LEGAL & GENERAL AMERICA
Holweger then moved into running emerging markets – which he says , encompasses basically every country bar the UK and the United States . He learned about international markets . He also set up and co-founded a new international digital direct to consumer broker , which , based in Gibraltar , distributes P & C products in Europe and the UK .
“ These experiences made me realise that there is no one size fits all ‘ plug and play ’ business model solution . And just a couple of variables in a business model means it won ' t work in another country either ,” he says .
Business models in new markets Holweger cites cultural and behavioural differences as the main drivers that prevent certain business models from working in other markets and says that the US life insurance market is fundamentally different to that of the UK as buying policies and getting coverage can be a long and arduous task . Holweger is dedicated to tackling these issues and transforming the space in his position as President & CEO of Legal & General America .
“ Insurance is about getting people back on track when things go terribly wrong . It ’ s about enabling them to carry on with their life ,” he says , “ and that ’ s what attracted me to it . I think we can make a real difference to society and help families .”
30 December 2021