Northwestern Mutual’s insurance policy sales soar; PNC to sponsor club level at Miller Park; US Bank introduces new electronic expense reporting tool for businesses
Northwestern Mutual’s insurance policy sales soar
Milwaukee-based Northwestern Mutual Life Insurance Co., the nation’s largest direct provider of individual life insurance, has announced that its number of new policies sold in the first half of the year jumped 23 percent from the same period in 2009.
In addition, Northwestern Mutual’s total insurance product sold increased 14 percent over the first half of last year.
“These numbers represent rock-solid evidence of a distinct trend we are seeing in everything from our national research to consumer sentiment to our conversations with Americans across their kitchen tables,” said Dave Simbro, Northwestern Mutual vice president of life products. “People have adjusted their risk meters in direct response to the global economic downturn. They’re prioritizing their financial choices to achieve low-risk stability, steady growth over time, and long-term financial security from a company they can trust.”
In addition to increases in permanent life insurance, the number of policies has increased 10 percent for individual disability income insurance (DI) and nearly 37 percent for individual long-term care insurance (LTC) year-to-date over 2009. So far, 2010 has been a record year for the company’s LTC product in terms of both number of policies purchased and overall protection.
“We’re seeing more people insuring themselves, and a movement towards permanent life insurance,” Simbro said. “It’s encouraging that Americans are recognizing the need to manage long-term risk, and the critical role that insurance plays in their overall financial security. As people recognize the value of managing risk and are taking action, it’s also important to look long-term. The most effective financial plans address risk and investments holistically, and over the course of a lifetime. That’s why we continue to believe that an effective approach includes working with a trusted advisor who deeply understands your long term goals, and makes recommendations that reflect your evolving needs.”
PNC to sponsor club level at Miller Park
The Milwaukee Brewers and Pittsburgh-based PNC Bank have agreed to an expanded 5-year sponsorship deal in which PNC will become the naming rights sponsor of the club level at Miller Park.
The club level is the third seating level at Miller Park, above the lodge level and below the terrace level. The PNC sponsorship is the first time that the Brewers have had a naming rights deal for the club level. The deal will include signage for the PNC Club Level and for PNC Bank throughout the Miller Park Club Level concourse and inside the seating bowl.
The Aug. 27 Brewers game against Pittsburgh will be PNC Bank day at Miller Park. There will be a fireworks show after the game sponsored by the bank. It will be the first sponsored full fireworks show at Miller Park since 2003.
“The Brewers are proud to continue working with PNC Bank through this sponsorship," said Brewers executive vice president Rick Schlesinger. "The new PNC Club Level is part of an expanded relationship between the Brewers and PNC, and we are excited to be taking this to a new level."
PNC acquired National City Bank and entered the Milwaukee market in June. The bank plans to make a $50 million capital investment in southeastern Wisconsin. That capital investment is intended to place PNC among the largest three banks in southeastern Wisconsin in the next five years by expanding the number of branches the bank has, building its corporate infrastructure, developing and growing its talent and deepening its community partnerships, a company spokesperson said.
"Building on our hometown relationship with the Brewers is important as we grow our business and increase our investment in Southeastern Wisconsin," said Beth Wnuk, PNC Bank’s regional president for Wisconsin. "Our sponsorship with the Brewers organization is a perfect opportunity to demonstrate PNC’s commitment to our community in a significant way for many years."
US Bank introduces new electronic expense reporting tool for businesses
Minneapolis-based U.S. Bank has introduced a new electronic expense reporting tool for mid-sized companies, allowing employees to manage travel expenses online and managers to better track spending patterns.
"Most mid-sized companies still use manual or paper-based expense reporting systems," said Jeff Rankin, senior sales and marketing officer at U.S. Bank Corporate Payment Systems. "They see the savings captured by larger companies through automated expense reporting and want to the
same opportunity. But managing travel expenses is often a part-time responsibility at companies this size, so they need a system that’s simple to use and easy to manage."
The US Bank Expense Management program posts commercial or corporate credit card purchases in an online account, which allows users to submit reimbursement requests electronically, even from mobile devices. It also allows managers and administrators to quickly approve reimbursements, while complying with their corporate policies.
"Instead of knowing only the total company expenditure on airlines tickets, for example, the procurement officer can know what the company spends with each individual airline and then use that data to negotiate more favorable pricing with airlines, hotel chains, car rental companies
and travel service providers," said Kurt Adams, senior vice president of strategy and product at U.S. Bank Corporate Payment Systems.
