As the former President and COO of Generali – and now the Life Division, President & CEO – US of SCOR Global Life – US, J.C. Brueckner is a familiar leading figure in the US insurance industry.
He joined his current position in November 2015 and is responsible for all aspects of SCOR’s life reinsurance business in the US. He also previously served as Deputy CEO since October 2013, following the acquisition of Generali USA by SCOR.
While at Generali, he served in a variety of roles including President, Chief Operating, Officer and Senior Vice President – Sales, Marketing & Underwriting.
He has more than 35 years in the life reinsurance industry with responsibilities including sales, marketing, risk management, process improvement and executive leadership. We caught up with him to find out more.
Tell us about how your successful career began? Was there a particular event or person that inspired you to pursue this path?
My career began like many others – not with a grand plan, but rather with an opportunity that presented itself. During my last semester at the University of Iowa, I attended a career day and was recruited by a representative from MetLife who convinced me to join their management training program.
While I quickly learned that the job actually involved selling life insurance, I gained valuable experience in product knowledge, connecting with people, and persistence. However, I ultimately wanted to have a separation between my personal and work life, and I moved on to a small reinsurance company in Kansas City called Frankona, which launched my career in reinsurance.
I was fortunate to work with long-term colleagues who took the time to help me grow and understand the business, and I have been fulfilled and challenged ever since. I have a great deal of respect for those who sell life insurance and their dedication, but my path led me to where I am today.
What keeps you passionate about the reinsurance space and life insurance industry?
For me, the reinsurance space offers the opportunity to see the industry from different perspectives and lenses. Each company approaches the business differently, from large insurance companies to small fraternals. Working with various companies challenges me to learn and connect with them in meaningful ways.
The people in the industry are genuinely good and passionate about what they do. There is never a dull moment, and I enjoy the challenge of learning new perspectives and connecting with different companies. I took a shift away from the insurance space at one point and worked on being a black belt through the Six Sigma program at GE. That experience challenged me to learn how to lead people that aren’t reporting to me, manage projects, and use data to support my decisions.
It was an invaluable experience that set the path for how I lead and manage, giving me new skill sets to apply. Walking outside of my comfort zone had a positive impact on my skill set and helped me progress in my career.
As long as I feel surrounded by people who help me grow and continue to provide opportunities, I will stay in the industry. But if those things aren’t present, then it’s time to think about making a change.
What is your opinion on the changes happening in the life insurance market in the US, and where do you think it may be in five years?
The pandemic has forced life insurance companies to think differently about how to get information to make decisions and let go of some traditional practices. The insuretech space is also being creative and trying new things such as digitization.
The industry has been discussing closing the protection gap and reaching the underinsured and uninsured market for decades, and now all the ingredients are there to make this a reality. There are signs that changes are happening, but the industry needs to move more quickly. Companies like Ethos are tapping into the underserved market, and traditional distribution is going after that space through digitization and automatization.
However, the industry still struggles to connect with people in a meaningful way. The focus should be on helping people live better lives rather than just selling life insurance. Models such as accelerated underwriting are becoming more popular in the US, but the biggest challenge is how to connect with consumers.
The UK has more connections with consumers, and there are touchpoints such as mortgages that force the connection. The industry needs to change the narrative and connect with consumers, especially in the health and wellness space.
What are the biggest challenges that the insurance industry is facing in 2023 and going into 2024?
The insurance industry is facing a number of challenges, including inflation, which affects how companies price their products, and a lack of meaningful change in the industry. Companies need to define their mission and purpose and connect with consumers in a more meaningful way.
This includes exploring new ways to engage consumers beyond traditional distribution systems, which are aging and have an aging workforce. The companies that tap into new ways to engage consumers and become more purposeful and mission-driven will survive, while others will struggle to grow. The insurance industry needs to adapt to changing technology and become more consumer-driven.
What is SCOR planning to implement in the next 12 months?
SCOR has been exploring the Insuretech space and distribution, and we plan to continue this work in the next 12 months. We will also focus on providing a more personalized experience for consumers by leveraging data and analytics.
We will be investing in technology to improve our underwriting process and provide better products for consumers. Additionally, SCOR is planning to expand our presence in the market by exploring new partnerships in the underwriting acceleration and health & wellness space that will enhance the value we bring to our customers.
As the CEO of one of the largest reinsurance companies in the US, how do you personally maintain a sense of perspective and de-stress?
For me, it’s important to keep in mind what’s truly important in life. Despite the high-pressure job, I always try to stay grounded and focus on my family and friends. Even though my kids are all off at college now, our dog is a great stress reliever, and there’s nothing like walking in the door to a happy, excited pet.
At work, we try to focus on working on the solutions rather than living in the problems. It’s easy to get consumed by a problem and feel overwhelmed, but by working as a team and focusing on solutions, we can alleviate the stress and anxiety that come with addressing significant issues.
It’s also important to enjoy the ride and appreciate the people around you. I’m lucky to work with a team of intelligent and fun people, and we make sure to enjoy each other’s company, both personally and professionally. Our leadership team even has a text group where we share personal updates along with work-related information.
Overall, staying focused on what’s truly important in life and enjoying the people around you can help us all maintain a healthy perspective, both at work and personally.
After many years in the insurance industry, what still inspires you about the space? What do you still get excited about?
It’s exciting to see the next generation and their enthusiasm for being a part of something that makes a difference. I can feel their passion for meaningful work, and it’s inspiring to see their desire to connect with a purpose.
This need for meaning and purpose challenges us as leaders to create an environment where people feel appreciated and connected to what we’re doing. It’s not just about profits, but about caring for people’s health and wellbeing.
This is an important subject within the industry right now, and we have to be intentional about everything we do, from how we communicate, to the little things we do every day, to make people feel important and connected to our mission. It’s a fun environment to be in, and it keeps me enthusiastic about the industry.
Join SCOR at Insurtech Insights USA 2023 in New York
We’re delighted to announce that J.C Brueckner, President and CEO of SCOR Global Life – US, will be giving a fireside chat at Insurtech Insights USA 2023. His session, “Insuring the Future: A CEO’s Perspective on the Past, Present and Evolution of Life Insurance”, will be moderated by Lori Chordas, Senior Associate Editor at AM Best.
To join us at Insurtech Insights USA 2023, at the Javits Center in New York on June 7th and 8th, simply visit here to register.
