Wellabe, an insurance provider, appointed Sara Lehan as its new chief financial officer in April. Lehan, who previously served as the company’s chief investment officer, now oversees the firm’s finance and investment teams.
Leadership Transition and Strategic Goals
Lehan, 46, brings 23 years of experience in the insurance industry to her new role. Before joining Wellabe in 2009, she worked in audit and assurance at Ernst & Young LLP. As CFO, she aims to consolidate the company’s balance sheet functions into a single, cohesive finance department.
A significant part of her strategy involves a capital allocation framework designed to maximize enterprise value and benefits for policyholders. According to Lehan, the company is currently prioritizing resources toward its Medicare supplement business, which has seen increased sales momentum. This scale has allowed the company to implement consumer-focused initiatives like "Wellabe Rewards," a points-based program for policyholders.
Integrating AI in a Regulated Environment
Wellabe is actively exploring how AI can improve operational efficiency, though Lehan emphasizes that the company must remain "very mindful and thoughtful" due to HIPAA requirements and insurance regulations.
The company has adopted Copilot 365 across its enterprise to assist employees with tasks like drafting emails and conducting research. To foster innovation, the company launched the "Working Backwards Challenge," which invites staff to submit AI-driven ideas for review by the executive leadership team. Lehan maintains that these tools must be used in a way that avoids exposing sensitive policyholder data.
Mentorship and Professional Development
Lehan characterizes her leadership style as focused on coaching and active listening. She advocates for "pressure testing" her team by involving them in high-stakes environments, such as presenting directly to the company’s board of directors.
"Putting them in a situation where they need to respond to hard questions" is how Lehan says she encourages strategic thinking among her reports. She prioritizes giving subordinates the platform to own their work and speak in their own voices, rather than mirroring her own.
Professional Background and Education
Lehan is a graduate of Simpson College in Indianola, where she earned a degree in accounting. She holds professional designations as a Certified Public Accountant (CPA) and a Chartered Financial Analyst (CFA). Her career path includes a transition from financial reporting to the investment side of the insurance industry, an experience she credits with broadening her understanding of macroeconomic trends and market dynamics.
Key Takeaways
- New Appointment: Sara Lehan was named CFO of Wellabe in April.
- Operational Focus: She is consolidating finance, actuarial, risk, and investment groups into one department.
- AI Strategy: The company is utilizing tools like Copilot 365 for productivity while maintaining guardrails to protect policyholder data.
- Market Expansion: Wellabe is currently directing significant resources toward its Medicare supplement business to leverage current sales growth.
- Professional Credentials: Lehan is a CPA and CFA with over two decades of experience in the insurance and financial sectors.
Keep reading