Michael Daubenmier of Brighton will be inducted into the Michigan Insurance Hall of Fame for his pivotal role in conceiving and helping create a nationwide life insurance company for AAA members. Daubenmier will receive this honor at the Hall of Fame’s 30th annual induction ceremony Oct. 17 at the Crown Plaza Lansing West.
Daubenmier began his AAA career in 1988 when he joined AAA Michigan (now known as The Auto Club Group), overseeing life insurance operations. In 1999, he became president and CEO of AAA Life Insurance Co. and served until his retirement in 2004.
As CEO, Daubenmier saw the potential of a national life insurance company to meet the needs of AAA members. He noted the company’s challenges in competing against larger life insurers due to its restrictive footprint, which limited operations to Michigan. Along with former AAA Michigan CEO Ron Steffens and COO Terry Shea, Daubenmier garnered support from AAA clubs across the United States in an ongoing partnership that has vastly expanded AAA Life Insurance Company’s ability to meet the needs of AAA members from coast to coast.
Twenty-five years later, AAA Life Insurance Co. has quadrupled in size from 149 full-time employees to 836 and increased insurance in force more than tenfold. Most importantly, AAA Life has delivered on the promise of the AAA brand, paying out $640 million in life insurance benefits to survivors since the company’s inception.
“Neither the success of the last 25 years nor the potential for the future would have been possible without Mike’s leadership in forming the Alliance of AAA clubs from across America to support our Michigan-based carrier,” says current AAA Life Insurance Company President and CEO Philip G. Walker. “We are perhaps most thankful that Mike created the positive culture at AAA Life for employee education and supporting local charities that is still present today.”
Daubenmier takes pride in AAA Life’s growth over the past 25 years and its future to help bridge the gap for the millions of Americans lacking adequate life insurance coverage to secure their family’s financial future in case of a tragedy. He is also honored for his advocacy for employee educational development and his service on various industry boards and committees.
The Michigan Insurance Hall of Fame was established at the University of Olivet to pay tribute to individuals who have significantly affected the Michigan insurance and risk management industry’s ability to serve the public. Registration information for the Oct. 17 induction ceremony is available at www.MIHOF.org.
