Transamerica has announced a strategic partnership with digital life insurance startup Bestow Inc., in a bid to enhance its financial protection offerings.
The collaboration is set to offer customers intuitive digital platform with enhanced self-service options for Transamerica’s life insurance products.
The two firms claim that they have aligned because of their shared ideologies; to empower people to create a better tomorrow through saving, investing, and protecting their loved ones.
Andrew DeMarco, Head of Life Solutions, Transamerica, said: “We are excited that Bestow will be building out a platform that redefines the Transamerica experience with our agents and clients.
“Powered by Bestow technology, Transamerica will be able to enhance not only the way we engage with new clients—digitally and in minutes—but also how we provide service throughout the policy lifecycle.”
The partnership is specifically aiming at supporting the underserved middle market, offering customers and insurance agents a streamlined application experience.
The new customer digital footprint will also strengthen Transamerica’s ability to support customers after they have purchased a policy.
The Bestow platform builds insurance technology that expedites carrier modernisation, with scalable software solutions from origination to administration.
Melbourne O’Banion, co-founder and CEO of Bestow, said: “Partnering with Transamerica to reimagine the application, underwriting, and policy issuance of new products on our platform has been rewarding for both teams.
“This is only the beginning of a fantastic partnership that will provide their agents and customers with increased access to financial products through a best-in-class, convenient, digital buying experience.”
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