Insurance industry

Latest Stories

Hitting the Trifecta: Drexel Students Study How to Reinvent Life Insurance for Millennials

By Cassandra Vidal | May 16, 2017

I am a student at Drexel University. Our class paired up with Penn Mutual to address three business challenges the company was facing. My team was assigned the first challenge: The Language of Life Insurance, changing the way people talk about life insurance, with a focus on reaching millennials and Generation Z.

Choosing to Lead: Penn Mutual Aims to be Top Ten in Life Insurance Sales by 2025

By Eileen C. McDonnell | January 10, 2017

Penn Mutual has moved from the 38th to the 17th position in new life sales since the “Great Recession”. Now we are laser focused on breaking into the top ten by 2025!

We Must Explain Life Insurance in Simpler Terms

By Jeffrey Fleischman | October 11, 2016

40 percent of individual Americans do not own life insurance. And, it’s no wonder – people really don’t understand what life insurance is and what it can do for them. As an industry, our products can be complicated, and the language we use doesn’t help.

The Secret to My Success: Always Look Five to 10 Years Ahead

By Maury Stewart | September 20, 2016

You might think it’s strange that someone who has been in the industry for more than 60 years is so focused on the need to change, but, frankly, the insurance industry has always been about change.

Competitor Increase in Cost of Insurance Rates

By Raymond Caucci | August 23, 2016

A recent article by the New York Times, Why Some Life Insurance Premiums Are Skyrocketing, brought attention to an issue that I and Frederick Karp have been talking about for some time: Many stock insurance companies are raising the cost of insurance rates (COI) on their in-force universal life (UL) insurance policies. Penn Mutual, however, has never increased the current cost of insurance rates on in-force UL policies and has no intention of doing so.

Exploring the Future of Life Insurance at Google

By David O’Malley | August 16, 2016

I recently attended a gathering of insurance industry executives at Google’s headquarters in Mountain View, California. At the meeting, there was a broad consensus among us that the world is changing and the insurance industry needs to change with it.

The Current Cost of Insurance on In-Force Policies: It’s About Trust

By Frederick Karp | August 2, 2016

Believe it or not, it was only in 1979 that “traditional” universal life (UL) insurance was first offered to the market, by E.F Hutton. No one in the 80s or 90s thought that underlying UL guaranteed interest rates of four percent would be challenging for companies to meet in 2015 and beyond.

The Inevitability of Wearables

By Jeffrey Fleischman | July 6, 2016

Wearable technology – like FitBit or Jawbone – are all the rage right now. I will make a prediction: Wearables are not a fad, and over time they will become as ubiquitous and maybe as necessary as the mobile phone is today.

Reinventing Life Insurance: Drexel Students Team with Penn Mutual

By Jeffrey Fleischman | February 2, 2016

How does a nearly 169-year-old company keep current? We do it by partnering with a group of 18- to 20-year olds to help map out our future. Penn Mutual is working with a class at the Dana and David Dornsife Office for Experiential Learning in Drexel’s LeBow College of Business.

Reflections on Competitor Increases in Cost of Insurance Rates

By Raymond Caucci | December 15, 2015

While Penn Mutual is subject to the same pressures as other insurance companies, and has the contractual right to change non-guaranteed product charges, we have never raised cost of insurance rates on previously purchased policies and have no plans to do so.