Pendella-Velocity Benefits Partnership Expands Access to Essential Life Insurance Products to Thousands of Employees – InsuranceNewsNet
Through the new partnership with Pendella, a fast-growing technology company whose mission is to remove the biases from life insurance, Velocity’s national benefit offerings have expanded to include essential life and insurance protections. ‘Disability Insurance.
Pendella is revolutionizing the life insurance market by enabling organizations like Velocity to seamlessly integrate its white label digital product. Pendella’s proprietary recommendation engine tailors life insurance options to meet the unique needs of each client, regardless of age, health condition or income level.
Velocity’s employer and broker customers can easily access a variety of affordable, high-quality life insurance coverage options. Comprehensive individual policies can be purchased from major insurers in minutes – without the need for a medical exam. Individual coverage can supplement employer-sponsored group life insurance or be purchased as a stand-alone policy.
While group life insurance policies continue to be a popular benefit for employees, interest in individual life insurance policies has increased over the past two years due to the COVID-19 pandemic. , according to financial research firm LIMRA. Total new annualized premiums for life insurance policies rose 20% last year, LIMRA said, representing the highest annual growth since 1983. LIMRA expects whole life insurance sales to increase by up to to 10% in 2022, with continued growth in 2023.
“Consumers want options and simplified access to life insurance coverage. Pendella’s technology delivers that and more, and we’re excited to work with them to bring another valuable benefit to our customers,” said
“There’s never been a better time to sell life insurance and Pendella is committed to making it easy and affordable for everyone to get coverage,” said
Pendella is a technology company that exists to make individual life and disability insurance financial protection available to everyone, regardless of age, health status or income level. Pendella’s comprehensive enterprise SaaS solution is powered by artificial intelligence and big data to automate underwriting and deliver a simple, intuitive and enjoyable experience to thousands of people through partnerships with insurance companies and top-notch distributors. White-label customization allows for a seamless end-to-end experience. Instant life and disability insurance in minutes. No paperwork. No medical examinations. Implemented with minimal effort.
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For more information or to schedule an interview, contact: [email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2080ba29-936a-4c40-9f62-3a117bbbafb7
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