icmif intelligence committee november 2013 marie uhrich vice president, affinity marketing thrivent...
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ICMIF Intelligence CommitteeNovember 2013
Marie UhrichVice President, Affinity Marketing
Thrivent Financial
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The Thrivent Way
For active Christians who long for confident, contented, connected and called lives, Thrivent is the only organization that blends faith, finances and generosity, resulting in
changed lives and stronger Christian communities.
In Type: Faithful
Delegators and Generous
Planners
U.S
. Ch
ristia
n Po
pula
tion
Our Value Proposition
Faithful Delegators:1. Faith is top priority2. Low confidence and knowledge around finances3. Wants an advisor and a financial plan4. Open to working with an insurer for investments
Thrivent Mid-Term Market Segmentation for our Current Distribution System
Generous Planners:1. Involved, confident, knowledgeable2. Wants an advisor and a financial plan3. Open to working with an insurer for investments4. Values living a generous life
Dimension Mid-term (3 -5 years)
Life stage Pre-retired or recently retired (45 -65)
Affluence Moving to mass affluent $100 – $500K assets and/or $75K + HH income
Church Involvement
Attends church regularly
Congregational affinity
Attends a church where Thrivent has an active relationship
Primary marketing target = in-type prospect who meets 4 of 4 dimensionsSecondary marketing target = in-type prospect who meets 3 of 4 dimensionsNot in target = individuals who meet only 1 or 2 of 4 dimensions.
41%
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Life Insurance In Force – Detail
2007 2008 2009 2010 2011 2012 2013Q30
20
40
60
80
100
120
140
160
180
200
TL + Term Trad Life Term LifeUniv Life VUL
1.3%
Term Life included with Traditional Life for years 2007-2009.
1.6% 1.6% 2.0%2.5%
$ bi
llion
sFace Amount annual growth rate
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LIMRA-Weighted Premiums – Detail
2012 Premiums
2012 y/y % 2011 y/y % 2010 y/y % Primary Line
Amounts in $ millions
Industry Average -- 6% 2% 4% UL
Northwestern Mutual 754 7% 4% 13% WL
New York Life 610 -15% 8% 17% WL
State Farm Life 445 5% 0% -2% Term
Mass Mutual 385 16% 1% 13% WL
Guardian 278 -1% 5% 7% WL
Thrivent 97 14% 13% 16% WL
USAA Life 72 -1% 5% -7% Term
Knights of Columbus 62 10% 22% -14% WL
New York Life and Northwestern Mutual are restating 2012 premiums throughout the year to exclude COLI/BOLI. This is reflected in the 2012 Premiums and 2013 YTD y/y% change. All prior y/y % changes are not restated.
Life sales – peer comparisons
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LIMRA-Weighted Premiums – Detail
Annuity sales – peer comparisons2012
Premiums2012 y/y % 2011 y/y % 2010 y/y %
Primary Line
Amounts in $ millions
Industry Average -- -8% 7% -7% VA
New York Life 7,163 -8% -5% 45% VA
Thrivent 3,212 3% 4% 8% VA
Mass Mutual 2,272 13% -4% 28% Fixed
Northwestern Mutual 1,677 11% 19% 8% VA
USAA Life 1,116 -21% -4% 16% Fixed
Guardian 1,556 33% 47% 71% VA
Knights of Columbus 513 3% 3% 0% Fixed
State Farm 424 -14% -8% 34% Fixed
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2009 2010 2011 2012 2013Q30
20
40
60
80
100
General Acct Other Series Portfolios Mutual Funds AUA
AUM$75.9
AUM$83.3
AUM$88.6
AUM$67.5
AUA$5.2
AUA$6.0
AUA$5.9
AUA$6.8
AUA$7.9
AUM$73.3
AUM and Assets Under Advisement
Managed, advised assets continue their growth$
billi
ons
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2014 2015 2016 20170
500,000
1,000,000
1,500,000
2,000,000
2,500,000
Thrivent Membership Trend
January
Membership Trend
26 Regions2500 Field Reps
100% Captive Agents
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• Target Market: Young Christian families
• Products: Term Life, Disability Insurance Guaranteed Retirement Income Plan
• Distribution: Multiple experiments
brightpeak financial
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brightpeak financialNew Distribution Experiments
FINANCIAL GUIDES
LIFEWAY RETAIL
MOPSPARTNERSHIP