Allianz Life launches Pro+ Survivor Fixed Index universal life insurance policy
Allianz Life Insurance Company of North America (Allianz Life) announced the launch of Allianz Life Pro+ SurvivorSM Fixed Index Universal Life Insurance Policy, now available in 43 states. The new product is designed for consumers seeking an affordable, flexible option for life insurance coverage that provides death benefit protection for two lives in one policy. This addition to the survivorship market also has index allocation options that offer customers tax-deferred cash value accumulation potential and a level of protection.
“We know that Americans want affordable, customizable life insurance that helps them protect loved ones while also providing the opportunity to accumulate assets for future expenses,” said Jason Wellmann, senior vice president of life insurance sales for Allianz Life. “Allianz Life Pro+ Survivor provides this financial reassurance against life’s uncertainties with both flexibility and protection.”
Fitch affirms New York Life’s highest ratings for financial strength
New York Life, a mutual life insurer, announced that Fitch affirmed the company’s financial strength rating of AAA,its highest possible rating, on August 13, 2014. Also, this past June, A.M. Best affirmed its A++ (superior) financial strength rating on New York Life, its highest possible rating. In addition, both Moody’s and Standard & Poor’s have affirmed New York Life’s top ratings in the last 15 months. All four rating agencies have a stable outlook assigned to New York Life’s ratings.
New York Life remains one of only three life insurers with the highest financial strength ratings currently awarded by all four of the major rating agencies, out of more than 800 life insurers operating in the United States today.
Prudential enhances life insurance product portfolio
Prudential Individual Life Insurance has enhanced its variable universal life (VUL) insurance product, PruLife® Custom Premier II, to offer more living benefits. This includes a wide range of underlying investment options for consumers who are looking to potentially accumulate cash value or supplement retirement income that in many instances may be accessed income tax free. The product also offers an optional rider that can help pay for costs associated with a chronic or terminal illness.
More than 60 underlying investment options, including socially responsible “green funds,” give consumers the opportunity to design an investment strategy that aligns with their individual goals and maximizes the product’s growth potential.
SMA announces winners of the SMA Innovation in Action Awards
Strategy Meets Action (SMA), an insurance advisory firm, announced the winners of the SMA Innovation in Action Awards during its annual SMA Summit at the Mandarin Oriental Hotel in Boston. The 2014 winners in the insurer category were AssureStart, ingenie and Privilege Underwriters Reciprocal Exchange (PURE). The winner in the IT solution provider category was EagleView® Technologies for their Risk Visualization Solutions (RVS).
The SMA Innovation in Action Awards are presented each year to celebrate innovation in the insurance industry. SMA launched this award program to inspire, share, and recognize solutions that enable an insurance company to move beyond modernizing and optimizing to real innovation and transformation, ultimately creating differentiation and competitive advantage. The program spotlights both insurers and solution providers that have successfully implemented solutions that best leverage next generation technologies as well as transformational projects or services that deliver game-changing business capabilities.
VRC Insurance Systems announces Velocity 10.5.7 Cloud to streamline information sharing VRC Insurance Systems has released an updated version of their cloud-based self-service customer portal. The portal will allow for fast and efficient sharing with agents, brokers, insureds and carriers through a secure connection. The cloud offers two sharing options. Information can be shared by granting access to designated recipients or it can be shared automatically with groups or divisions that regularly need access. The cloud-based self-service portal eliminates the possibility of data being entered incorrectly into the cloud. The Velocity database updates the cloud on a real-time basis, which also eliminates synchronization issues.
Assurity names Nick Jasa vice president of individual sales
Assurity Life Insurance Company has named Nicholas B. Jasa as vice president of individual sales for the company’s nationwide financial services organization. Jasa will direct all individual sales operations, including product and marketing strategy, sales development and building distributor relationships.