June 2014

The Underinsured Market in Canada

11:45am-1:30pm | One King West Hotel, Austin Gallery - 1 King Street West, Toronto

The Insurance Industry is facing a concerning trend: Canadian life insurance ownership has been on the decline. This combined with an aging sales force and fewer new agents entering the field poses a serious threat to the Industry and the Canadian population.

Richard Hekeler, LIMRA, and Laura Dawson, Dawson Strategic, discuss the impact and risks of underinsurance and the importance of maintaining strong relationships between advisors and consumers.

Life insurance companies are key contributors to the Canadian economy and provide a vital social safety net. It is in everyone’s best interest to identify and address any adverse trends.

Laura Dawson

Dawson Strategic

Laura Dawson

Dr. Laura Dawson is the President of Dawson Strategic and provides advice to business on cross-border trade, market access and regulatory issues. Previously, she served as senior advisor on U.S.-Canada economic affairs at the United States Embassy in Ottawa. From 1999 to 2008, she worked as a visiting professor and international trade consultant in CIS States, Latin America and China. She advised Russia’s Ministry of Foreign Economic Relations and Trade on WTO issues and assisted with the establishment of a Russian export development bank. From 2000 to 2005 she was a visiting professor at the St. Petersburg State University Faculty of World Economics where she helped establish Russia’s first WTO training curriculum for students and business professionals. She assisted with the establishment of the International Centers for Trade Policy and Law in Russia, Ukraine, Armenia and Georgia. She has provided training and strategic advice to government economic officials from across the CIS. In 2012, she was a lead faculty member for economic policy-planning training for officials from Kazakhstan, Kyrgyzstan, Tajikistan, and Afghanistan at the University of Central Asia. Dr. Dawson provides strategic advice on trade risks and compliance in export markets, anti-corruption, corporate social responsibility, government procurement, technical barriers, energy, telecommunications, financial services, foreign investment review. As a specialist in international business relations, Dawson contributed to the launch of the U.S.-Canada Regulatory Cooperation Council, the Border Vision Strategy, and the bilateral Government Procurement Agreement. From September to December 2011, she will be a Public Policy Scholar at the Woodrow Wilson International Center for Scholars in Washington, DC researching options to rebuild North American economic competitiveness.

Richard W. Hekeler

Assistant Vice President and Director of Custom Research

Richard W. Hekeler

For most of his 21 years at LIMRA, Hekeler has been involved in designing, conducting, and interpreting fee-based consortia and individual company proprietary research projects. During the last several years, he has also conducted research among employers and producers in the U.S. and Canadian group insurance marketplace and has been key player in LIMRA’s Strategic and Emerging Issues Research program. In addition, he has authored and co-authored several LIMRA reports including Memories of the Future: Four Scenarios of the Life Insurance Industry in the Year 2016 and Guaranteed Uncertainty: Socioeconomic Influence on Product Development and Distribution in the Life Insurance Industry.
Prior to joining LIMRA, Hekeler spent several years in various market research and planning positions at the Paul Revere Insurance Group and United Airlines. He was also the Director of Service Quality at Consolidated Group, Inc.
A graduate of the University of Colorado, he received his master’s and doctoral degrees in sociology (with specialization in demographic research) from the University of Chicago

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