What You Need to Know
- Swiss Re is formed iptiQ to help life insurers go digital.
- IPipeline is helping John Hancock and Pekin Life do things online.
- LexisNexis Risk Solutions can help life insurers see applicants’ diagnosis and clinical lab data.
LifeSecure Insurance Company — a Michigan insurer best known for its long-term care insurance and supplemental health insurance products — is getting into the life insurance market.
The company is introducing final expense and term life products with help from iptiQ, a digital services arm of Swiss Re. Swiss Re formed iptiQ in 2016, in an effort to help insurers make better use of web-based and mobile-based systems.
IptiQ’s Lumico Life Insurance Company arm will underwrite the final expense and term life products. The term life products will be available in the District of Columbia and in all states but New York.
The final expense product will be available in the District of Columbia and in all states but New York and Montana.
CRC Group — an insurance wholesaling arm of Truist Bank — is realigning Truist’s life, annuity and health distribution operations. Truist is the product of the BB&T and SunTrust regional bank merger.
Truist has owned CRC Group and Crump Life Insurance Services, and it recently closed on the acquisition of another insurance distribution business, Constellation Affiliated Partners.
CRC Group says it will now be the parent of three divisions, including a new Life, Retirement and Benefits Solutions division.
Crump Life — a major life, health and annuity distributor — is the heart of the life division. Rob Carney, Crump Life’s CEO, will also be the CEO of the new CRC life division. The life division also includes Hanleigh, a disability insurance managing general underwriter, and Ethos, a medical stop-loss managing general underwriter.