With over 100 years combined experience Independence Associates brings a wealth of practical and consistently strong proven performance to bear at your discretion. Our team has led businesses and functional areas through major IPOs, complex acquisition integration, system overhauls, implementation of significant Federal legislation, joint-venture negotiations, and spin-off transactions. In all instances, top and bottom line growth continued and accelerated, while employee and customer satisfaction rose.
Situation – Entered stable, long-standing business with multiple, significant product lines. Chartered to make it “world class.”
Action – Devised and led product by product competitiveness assessment.Embarked upon complete redesigns across all major product lines including variable annuities, variable universal life insurance, term life insurance and disability income insurance.
Results – Dramatically increased market share and profitability in all major product lines.Grew primary product market share from number three to number one in variable universal life and from number 12 to number five in variable annuities. Grew revenue and income over 100% each in under three years.
Situation – Joined a business with a wholly non-competitive universal life product line because of differing interpretations of reserving rules in the industry.
Action – Joined with other CEOs on both sides of the argument through the ACLI to reach agreement on a principles based reserving philosophy. Redesigned product line to new reserving standards within six months of agreement.
Results – Significantly grew new sales, market share, and profitability of universal life business.
Situation – Assumed operational leadership of joint venture provider of alternative phone services to apartment dwellers. Charter to evaluate investment and take appropriate corrective action.While in place, Telecom Reform Act passed by Congress further impacting business model and competitive landscape.
Action – Assessed entire business including business model, operating processes, compensation structures, etc. Implemented corrective action steps in virtually all areas of business, and modified basic operating strategy as result of regulatory changes.
Results – Contained legacy operating model and brought financial discipline across the business. Delivered over 100% increase in revenue and over 60% increase in operating margins, including the loss leading legacy business, in just one year.
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