Gerber Life Insurance Company · White Plains, NY United States
Company Description
Phone: 914-272-4000
Fax: 914-272-4099
Toll Free: 800-704-2180
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This link will open in a new window A bite of strained peas, a taste of pureed apple cobbler, and a helping of life insurance; Gerber Life Insurance has been insuring smiling babies since 1967. The company's juvenile life insurance products include the Grow-Up Plan, a whole life policy for infants and children. The company also offers whole life policies for young adults and older adults, term life plans, and life burial plans, as well as accident protection. Gerber Life Insurance markets its policies direct to consumers in the US and Canada. The company is a unit of Gerber Products , noted purveyor of baby food and other products for infants and parents. Food company Nestlé bought Gerber Life and its parent company from Novartis in 2007. To read the full description, subscribe now.
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Key Gerber Life Insurance Company Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 200 |
Gerber Life Insurance Company Executives
3 executives listed for Gerber Life Insurance Company's White Plains, NY location.
| Title | Name & Bio | Contact |
| President | Wesley Protheroe | Network |
| SVP, CFO, and Treasurer | Keith O'Reilly | Network |
| VP and General Counsel | Robert Lodewick | Network |
Competition
Competitive Landscape for Gerber Life Insurance Company
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Gerber Life Insurance Company Competitors
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