The THiNK Blog

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Raymond E. DiDonna


Recent Posts

Transformation Through Strategic Resourcing

Nov 30, 2018 10:57:43 AM / by Raymond E. DiDonna posted in Thought Leadership, Insurance, Industry News

 

As much as technology promises to be a boom to the life and health insurance industry, our business is a still very much a people business. While Artificial Intelligence (AI) offers opportunities to streamline our risk management processes and improve the customer experience, the core of what we do is driven by humans handling complex decisions and nuanced interactions.

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The First Step in Digital Transformation: Process Review

Oct 31, 2018 12:48:34 PM / by Raymond E. DiDonna posted in Thought Leadership, Insurance, Industry News

The insurance industry is undergoing rapid digital transformation fueled by the average consumer’s desire/willingness to engage online. In a study released by EY Global, 80% of customers said they were willing to use digital and remote channel options for different tasks and transactions.

Digitization has the potential to dramatically increase customer engagement at a lower price point – both perennial challenges for the industry. It also has the potential to improve the underwriting process, leading to a better overall customer experience. Nevertheless, digital transformation requires more than simply applying technologies to current processes.

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Lead with Feedback: How to Build a High-Performing Team

Oct 19, 2018 4:14:05 PM / by Raymond E. DiDonna posted in Thought Leadership

Managers tackle diverse responsibilities and competing deadlines – but the most important thing they manage is their team. In order to get the best performances from individuals and create a unified team, managers need to be well-versed in effective feedback strategies. Connecting with people and providing feedback that resonates is a critical skill to achieve your goals and get results.

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3 Ways Actuaries Can Effectively Communicate with Nontechnical Audiences

Mar 14, 2018 12:48:04 PM / by Raymond E. DiDonna

The content of this article was originally published in The Actuary as Simplifying the Complex: How to speak to nontechnical audiences.

A natural part of anyone’s business career, the further you advance, the broader your audience becomes. And that applies to both formal and informal settings.

As an actuarial student, your primary audience is your boss (an actuary), his or her peers (other actuaries) and your peers (actuarial students). For the most part, this group is homogenous and very similar to you. Thus, it’s not too difficult to prepare to present information to them. You just need to focus on how you want to present the information since, generally speaking, the way you want to present it is the way they want to receive it. Said differently, early in your career you already know your audience well. This is not true, how­ever, as your career advances and your audience gets more diverse.

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The Risk of Inaccurate Life Reinsurance Treaty Data: Why Actuaries Should Care

Oct 11, 2017 12:01:40 PM / by Raymond E. DiDonna posted in Reinsurance Treaty

What are the risks of having inaccurate treaty data in your reinsurance administration system? Are those risks top of mind for actuaries? While the impact of inaccurate treaty data might not be apparent on a day-to-day basis, over the long term, they present serious risk for insurance companies.

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[CEO Series] 7 Tips To Become a Better Influencer

May 30, 2016 1:02:02 PM / by Raymond E. DiDonna posted in Thought Leadership, CEO Series

Have you ever thought about how many instances there are in a day where you influence other people? The budget you need to get approval on, the client who is so close to signing on the dotted line, the colleague who can’t decide between pizza or salad for lunch. All of these are just a few examples of opportunities you have to influence – and those are just instances in the workplace! Your personal life is full of them, too. So when you come across these moments where you have the potential to influence another person, you want to be as successful as possible.

I recently had the chance to speak about Critical Influencing Skills for Advancing Professionals at the 2016 TAI User Group Meeting. The conference is primarily focused on educating TAI users on updates and advancements in their reinsurance software solutions. This year was an exciting one, where they announced the release of two new products: Connector and Insights. So you may be wondering where the discussion around influencing fits in? Well, 

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Two Necessary Business Strategies For Continued Growth

Apr 26, 2016 5:40:04 PM / by Raymond E. DiDonna posted in LOGiQ3 Culture, Thought Leadership, CEO Series

So you’ve made it past the ten year mark as a company. That’s a huge accomplishment (and one we celebrated this year) considering 90% of startups fail. You are proud of what you have accomplished but you’re likely focused on the future and how to continue building on that growth and momentum. In other words, how can your business grow bigger and get better all while maintaining success. As CEO, this is a question I am tasked with every day. Of course the specific answers to this question will look different for every company but I think there are a two overarching strategies that can lead you to continued success. Find out what they are below.

 

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ReFocus Conference Revealed - The Need for Change in the Life Insurance Industry

Mar 31, 2016 4:28:17 PM / by Raymond E. DiDonna posted in Reinsurance, Life Insurance

Earlier this month the 10th annual ReFocus Conference, co-sponsored by the ACLI and the Society of Actuaries, was held in Las Vegas. ReFocus has become a “Must” Go-To destination for leaders in the life insurance and reinsurance market in North America and beyond. Our team was also invited to speak at the conference and share insight (see here for a sneak peek of our presentation highlights!). This year, more than 600 participants from around the world attended. As always, there was a variety of topics to peak the interests of attendees. But an overriding theme was the need for change in the life insurance industry to be able to better serve its customers of today and tomorrow.

There are some harsh realities in the life insurance world, some of which have always existed, while others are only now becoming prevalent.

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Effective Leadership: The Influence of Six Sigma

Dec 15, 2015 9:00:00 AM / by Raymond E. DiDonna posted in Thought Leadership

Several years ago I was part of General Electric's world renowned Six Sigma process improvement initiative. The program itself was well developed and GE, among many other companies, derived great value from exercising the methodology.

While I haven't done true Six Sigma work for quite a while, I had the occasion recently to reflect on the methodology and think about how Six Sigma has influenced my leadership style here at LOGiQ3.

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[CEO Series] How You (and your Business) can PROFIT from a Mid-Year Business Assessment

Sep 1, 2015 1:25:18 PM / by Raymond E. DiDonna

It’s hard to believe that 2015 is already more than half over.  Where does the time go?  I always find that summer is not only the perfect time to take a breath and get refreshed, but also the time to take stock of how things are going thus far. While checking in on your business performance should be a regular occurrence, in this blog post I want to write about what we do at LOGiQ3 to take stock of how we are doing both at the company level, and the employee level. Hopefully you will find this insight to be applicable to your business, so that you too can find ways to profit from a mid-year business assessment.

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