As part of a recent restructuring of leadership and functions at Principal, Deanna Strable-Soethout was named president of U.S. Insurance Solutions, which produces $2.5 billion in top-line revenues for the company and employs about 2,900 people nationwide, 1,600 of them in Greater Des Moines. An Iowa native, Strable-Soethout has worked for Principal for the past 25 years. She joined the company after graduating from Northwestern University in 1990, and climbed the actuarial ranks to become a vice president in 2002, and in 2005 was named a senior vice president. In 2006, Strable-Soethout co-founded the Women’s Network for Leaders at Principal. She continues to lead that group, which serves as a resource for about 500 female executives at Principal. Strable-Soethout serves on the board of Simpson College as well as on various committees for United Way of Central Iowa and the American Council of Life Insurers. 

What has the corporate restructuring meant for your part of the company? 
One aspect that impacted my role is that our distribution (sales) teams had been centralized within one large distribution organization. With the recent changes, distribution now aligns with each operating segment (Principal International, Principal Global Investors, Retirement and Investor Services, U.S Insurance Solutions) and so now is decentralized. That created the four operating segments as they exist today, with two new presidents, one of them being myself. 

What are some current challenges facing the life insurance business? 
Life insurance is only one aspect of our division; U.S. Insurance Solutions also includes disability and group employee benefits, and each of those businesses have different challenges. One challenge that applies to all of them is the changing dynamics of how people in the U.S. are making purchase decisions; how we expect to be interacted with is different than in the past. We just have to continue to find ways to make (purchasing insurance and benefits) better, faster and cheaper. Another challenge is that we’ve had distractions from the Affordable Care Act. Even though we’re not directly in health insurance, employers have been very focused on that, and so we have to recognize that and consider how we can we be relevant to them as they work to attract and retain employees. Additionally, low interest rates can be a positive aspect to many parts of the economy, but it does pressure insurance products like ours, and we’ve had to adjust our products in the last few years. 

What are some important leadership lessons you’ve learned? 
One is really recognizing the value of using others to help you accomplish things. Early in your career, you’re rewarded for what you do personally, but later in your career, it’s how you utilize others to accomplish goals. That’s an important leadership lesson, and it becomes even more important when you have 3,000 people you’re responsible for. And making sure that every individual in my organization understands the importance of customer service and our core strategies. How do you make what you do from a business perspective relevant to all employees not just here in Iowa, but across the United States? 

What do you consider your best personal achievement? 
I have two middle school-aged children; that takes a lot of time and is something I enjoy. I’ve been able to raise my level in the company while being a working mother. People talk about work-life balance; I tend to talk about work-life fit … Obviously, that’s soemthing I’m proud of, and I’ve had a supportive spouse to help me to do that. And I think it’s been a great way to mentor other female leaders, to be able to talk about that. 

What’s fun outside of work?  
We do like to travel; some of the favorite places we’ve visited are Australia and New Zealand, and we find opportunities to visit Napa Valley on a more frequent basis – wine is somewhat of a hobby as well. I am a huge college basketball and football fan – I went to Northwestern and I’m also a Hawkeye fan. Attending sporting events kind of balances work and family things and gives me something else to enjoy. 

If you hadn’t joined Principal, what might you be doing? 
If I had my dream job, it might be a basketball coach, though my son might say that would be a terrible decision. Maybe I’ll do that after I retire.