ST. LOUIS, MO -- (Marketwired) -- 06/20/13 -- RGA Reinsurance Company, a subsidiary of Reinsurance Group of America, Incorporated (NYSE: RGA), announced today the winners of the first-ever RGA Market Innovation Challenge. The competition, launched late in 2012 and open to all U.S. citizens 18 years of age or older, was aimed at identifying ways to promote individual protection insurance products to young Americans.
"We were pleased at the response to this competition and are happy to announce that all available cash prizes have been awarded to six individuals whose entries provided the most thought-provoking ideas," said Tim Rozar, Senior Vice President, Global Research and Development, RGA.
An independent panel of leaders from the academic and business communities was assembled by RGA to carefully judge all submitted entries and to select the six best ideas as winners of the RGA Market Innovation Challenge competition. A grand prize of $25,000 and four runner-up prizes of $5,000 were awarded. In addition, a $10,000 cash prize was awarded to one individual entrant between the age of 18 and 25, which was in place to encourage participation by young adults.
The winners of the RGA Market Innovation Challenge are:
•Grand Prize ($25,000) Winner: Charles Barr, Florida •Young Adult ($10,000) Winner: Sarah Wallingford, Virginia •Runner-Up ($5,000) Winner: Daniel Brophy, Kentucky •Runner-Up ($5,000) Winner: John Marske, Indiana •Runner-Up ($5,000) Winner: Anna Svistunov, Florida •Runner-Up ($5,000) Winner: Blair Zenker, Tennessee
"It is our hope that the ideas developed from the RGA Market Innovation Challenge can be employed to help educate the public about the benefits of individual life products, and will generate new ways to communicate with younger consumers and demonstrate to them the value of life insurance in protecting their financial well-being," said Anna Manning, Executive Vice President and Head of U.S. Markets, RGA.
For details about the results of the RGA Market Innovation Challenge, including summaries of the six winning ideas, visit www.rgare.com/rgainnovation.
RGA Reinsurance Company is the principal operating subsidiary of Reinsurance Group of America, Incorporated (NYSE: RGA). RGA is one of the largest global providers of life reinsurance, with operations in Australia, Barbados, Bermuda, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Singapore, South Africa, South Korea, Spain, Taiwan, Turkey, the United Arab Emirates, the United Kingdom and the United States. Worldwide, the company has approximately $2.9 trillion of life reinsurance in force and assets of $40.2 billion.
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Vice President, Corporate Communications
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