“More Than Just the Numbers”

The financial and business acumen of Mark Wilkin, CFO & Business Development Executive of Andesa Services, draws attention from those who look to recognize CFO talent. Besides his finance responsibilities, Mark also oversees Andesa’s business development function (sales and marketing), allowing him to fully utilize his relationship-building and negotiation talents.

Mark is a consummate leader, widely trusted and admired for his commitment to excellence and making those around him better. He is credited with the initiation and execution of an Employee Stock Ownership Plan (ESOP) transaction that transitioned Andesa Services to a 100% employee-owned company in January 2020. “Few Insurtech companies can make the claim they are employee-owned. Andesa Services believes this sets us apart in the marketplace”, says Mark.

ESOPs establish another vehicle (in addition to a 401K plan) for employee retirement security; allow for all employees to participate in the benefits of ownership; and establish long-term rewards directly tied to company performance. Ownership drives high engagement cultures, which repeatedly prove to be the most effective way a company can advance performance and share wealth with its employees.

In an ESOP company, employee-owners must understand the business’s finances and how their role can impact an organization’s success. Mark invests the time to effectively educate and connect tasks to strategy and the impact of financial decisions so that non-finance employee-owners can understand and feel empowered. "These genuine connections make for a stronger and more aligned organization. Mark’s leadership has been instrumental in helping Andesa Services achieve its strategic goals, financial benchmarks and pursue its long-term Andesa Forever vision," says Ron Scheese, President and CEO, Andesa Services. “Mark’s depth of understanding of every aspect of the business and company strategy going well beyond finance drives his decision-making – making him a resource for other employees to leverage or emulate. Mark is a compass, respectfully reinforcing Andesa's values and vision in every decision and discussion”.

“Be multifaceted, educate and never lose sight of the engine that powers your Company - the employees”

According to Mark, the life insurance market is not known for being an innovative industry. Change is a slow and deliberate process, sometimes described as “glacial.” With that said, Andesa Services continues to provide innovation through enhanced digital experiences to carriers and producers, allowing them to pursue new strategic opportunities and get to market faster. “We continue to expand our secure private cloud to effectively integrate into our clients’ business-critical systems, workflows, and overall technological ecosystem,” he says. Andesa Services provides comprehensive, Policy and Plan Administration, Illustrations, and Third-Party Administration solutions for life insurance and annuity carriers and producers.

An integrated approach to technology and service, combined with robust conversion capabilities and full integration with illustration and reporting solutions, affords increased speed to market, lower costs, risk mitigation, and unparalleled data accuracy. “The most impactful technology trend affecting the life insurance industry is the digitization of the policy life cycle – allowing an end-to-end broker/customer journey online—digital sales channel and customer portal solution for self-service. Our solutions enable a carrier or broker to leverage this game-changing tech trend. Solution configuration to meet each carrier’s product and processing needs is essential,” adds Mark.

Mark’s advice to future CFOs; be multifaceted, educate, and never lose sight of the engine that powers your Company – the employees. The ability to be multifaceted and understand and appreciate more than just the numbers is critical – be a key contributor to organizational strategy, risk mitigation, operations, sales & marketing, legal, and human resources. Educate your employees on the financials which will enable sound decision-making at all levels of the organization. Affording employees competitive compensation and benefits and the opportunity to develop their skills will drive engagement which will undoubtedly contribute to client satisfaction.

Posted in CLF | CFOs Magazine 2021Mark Wilkin, CFO & Business Development Executive   Andesa Services Profile