Building on 30 years of experience: Nationwide Institutional Life earns top industry rankings

Building on 30 years of experience: Nationwide Institutional Life earns top industry rankings

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Nationwide's Institutional Life Insurance (ILI) team has provided innovative solutions and exceptional service to the industry for 30 years. A long-time leader in the corporate-owned life insurance (COLI) space, the group is now being recognized for their work in the bank-owned life insurance (BOLI) sector, breaking through as a top writer of BOLI¹ in the industry - and looking to continue to build on that success well into the future.

BOLI and COLI policies are lesser-known types of life insurance policies that help businesses informally fund employee benefits and cover the expenses associated with replacing insured employees. Banks purchase, own and serve as the beneficiary of BOLI policies, while companies buy COLI policies.

"After 30 years in the market and with more than 1,200 institutional life insurance policies in force, we know how important it is to listen to our clients and design solutions based on their complex needs," said Jessica Dowdy, head of Nationwide ILI. "In fact, because of this approach and our experience in the industry, we were able to win our largest BOLI case on record, helping a client with over 4,000 insureds."

The ILI team's success stems in large part from their end-to-end service model, allowing them to partner with clients to meet their needs from initial sales support to case retention. In fact, in a recent customer experience survey initiated by the team, a partner called Nationwide's post-sale support the "best in the business," said Dowdy.

"BOLI and COLI policies are sticky business, meaning these clients are with us for more than 30 years - and we need to ensure we're meeting their needs for the entire relationship, not just the point of sale," Dowdy said. "Our specialized underwriting, streamlined policy implementation and reliable service ensure our customers are getting the best experience for the duration of their policy."

The ILI team's flexible and customizable products have also contributed to their recognition across the industry. For example, the Nationwide Innovator Corporate Variable Universal Life (VUL) policy offers over 140 investment options, the lowest-cost fund lineup in the institutional life insurance market² and two death benefit options - features that help set it apart from other VULs.

"Our products are best-in-class, but our people really help us stand out from the competition," Dowdy said. "This team is a dedicated and specialized group of industry experts - and we're committed to helping our clients now and well into the future."

Visit https://nationwidefinancial.com/products/business-lifefor more information and resources on Nationwide institutional life insurance.

¹ Based on new premium dollars, IBIS Associates Inc. for the period ending 12/31/24.
² Weighted average fund expense is an average for the entire lineup and is based on Nationwide and Morningstar historical data as of May 1, 2024.
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