The Aging Crisis: Leadership, Responsibility, and the Future of Care
We’re pleased to present this month’s episode of Leadership Reimagined, featuring Tom McInerney, President, CEO, and Director of Genworth Financial, a company at the forefront of one of the most urgent and misunderstood challenges facing American families: the rising and increasingly unmanageable costs of long-term care. In 1991, Tom was part of a commission on Social Security and entitlement reform when baby boomers were 27 to 45 years old. That commission was 35 years ago, and nothing was done. Today, 10,000 of them will turn 80 every day for the next 18 years, and 1 in 6 Americans age 65 and older are unprepared for the staggering costs. Tom says, “In-home care is $77,000 a year, while a nursing home is about $125,000-plus. At Genworth, we’re trying to reduce the costs through our CareScout Quality Network. And for the baby boomers’ children and grandchildren, we’re going to help them assess the needs of their parents and grandparents, come up with a care plan, and work with them to manage the costs.”
Don’t miss this powerful episode about Tom’s leadership tenets, how he has applied his extensive financial and health insurance background to transforming long-term care, his commitment to identifying and advancing talent, and why he has made it his mission to address the aging crisis in America.
Tom has been President and CEO, and a director, of Genworth Financial since January 2013. His impressive career also includes serving as a Senior Advisor to the Boston Consulting Group, providing consulting and advisory services to leading insurance and financial services companies in the United States and Canada; serving as a member of ING Groep’s Management Board for Insurance, where he was the Chief Operating Officer of ING’s insurance and investment management business worldwide; and, earlier, serving in a variety of senior roles with ING Groep NV after holding many leadership positions with Aetna, where he began his career as an insurance underwriter in June 1978. Tom’s nonprofit work includes serving as Vice Chair of United Way Worldwide and serving on the Global Research Institute and Foundation Boards at the College of William & Mary, The Conference Board and its Committee on Economic Development, the Irish Arts Center, and the U.S. Ski & Snowboard Foundation Board. Tom is also a member of the American Council of Life Insurers and serves, and has served, on its CEO Steering Committees and Board.
Please enjoy this episode of Leadership Reimagined, featuring Tom McInerney, a leader who has spent nearly five decades working across financial services, health care, and public policy, including serving on presidential commissions and sitting in closed-door briefings with lawmakers, “so that all American families, including their parents and grandparents, can live through their retirement years with dignity.”
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