LEGAL & GENERAL AMERICA
Because obtaining life insurance cover
in the US is generally a drawn out process , it can also be expensive . As a result , only certain demographics prioritise having cover – and generally , these customers are within high income brackets . This is an aspect that needs to change , Holweger says , because those that fall hardest when tragedy strikes are the vulnerable , low to middle earning families who simply either can ’ t afford cover , or have chosen not to take it out because it ’ s difficult to apply for - and it ' s expensive .
“ Protection for this section of society needs to be more flexible ,” says Holweger . “ For me , life insurance is the life jacket , and how much life insurance you want depends if you just want a basic life jacket or you maybe need a safety boat . It ' s up to you , but it has to offer affordability as well .”
Digital transformation Holweger is adamant that digital transformation has provided the tools life insurance providers in the US need to offer better , faster , easier and lower cost cover .
1981
Year founded
630 +
Number of employees
According to a
2020
LIMRA Insurance Barometer Study , just 54 %
of all Americans have life insurance coverage
EXECUTIVE BIO
MARK HOLWEGER
TITLE : PRESIDENT AND CEO INDUSTRY : INSURANCE LOCATION : MARYLAND , UNITED STATES
Mark Holweger is President and CEO of Legal & General America ’ s insurance division , which includes operating companies Banner Life Insurance Company and William Penn Life Insurance Company of New York . He is responsible for the dayto-day operations of the business , ensuring service excellence , continued distribution expansion and achievement of the digital transformation strategy .
In 2011 , he joined Legal & General Group in the UK where he held a number of senior level positions including Managing Director , Partnerships for Legal & General Insurance and Director of Broker and Intermediary for Legal & General ’ s General Insurance business . In 2018 , Mark relocated to the US as Executive Vice President of Distribution and Marketing for Legal & General America .
Prior to joining Legal & General , Mark was a co-founder of Coverwise . com , an International digital insurance broker , and held various senior roles at other insurers including RSA Insurance Group UK where he was Distribution Director for Emerging markets and AXA Insurance UK where he was Director of Corporate Partnerships .