Diversification as a Strategy - Bill Lester CEO of Ameritas

In this episode, host Peter Colis, CEO of Ethos, welcomes Bill Lester, President and CEO of Ameritas Insurance. Ameritas has been in business for 130 years and serves 5.3 million customers. Ameritas offers insurance, financial services, and employee benefits, helping people plan well and enjoy life. As a mutual-based organization, Ameritas isn’t obligated to Wall Street analysts and stockholders.

Bill Lester was elected President & CEO of Ameritas in January 2020. He serves as chair of the board of directors for the Ameritas Life Insurance Corp. and serves on the boards of multiple organizations including Ameritas Mutual Holding Company, the Lincoln Chamber of Commerce, and United Way. Lester began his career with Ameritas in 1983 as a securities analyst with Ameritas Investment Advisors and has held key positions throughout the organization. He is a Seward, Nebraska, native with a business degree from the University of Nebraska-Lincoln.

The What’s Your Ethos podcast is brought to you by Ethos Insurance and is hosted by Ethos’ CEO Peter Colis. In each episode, Peter sits down with some of the life insurance industry’s biggest movers and shakers. You’ll hear them talk through their biggest breakthroughs, business insights, and leadership challenges — and get to know them on a more personal level. 

Founded in 2016, Ethos is a technology company providing access to instant, accessible life insurance online. Ethos’ mission is to help millions protect their families with access to simple, affordable life insurance. The company has redesigned the application process from start to finish to ensure the customer always comes first. Ethos offers flexible coverage options, access to valuable online tools, and a team of licensed agents ready to help you through it all. Ethos always puts the customer first. 

Discussion points:

• How Bill came to spend nearly 4 decades with Ameritas
• Bill’s dad protected their family with insurance when he died young and unexpectedly
• Sense of personal accomplishment - growth over his tenure
• Ameritas’ annual 10 percent growth is extremely high for this industry
• Retirement and employee financial planning at Ameritas
• Challenging times - mergers and acquisitions, recessions
• Ameritas’ core businesses
• Ameritas’ diversification is a difficult business model
• Winning customers in today’s market
• Distribution - what is necessary for success?
• Looking forward - product categories
• Building the company culture
• A day in the life of an Ameritas CEO
• Bill’s management style 
• Ameritas’ ‘north star’
• Lightning round personal questions

Resources:

Bill Lester LinkedIn

Ameritas

Peter Colis LinkedIn

Ethos Life Insurance