Covr Financial Technologies (Covr) and The Financial Architect Partners, LLC (FinArch) announced today they have formed a partnership to bring a holistic, technology-driven solution to financial institutions for life insurance. This new platform offers a single solution for financial institutions – including wealth planning groups, wirehouses, independent broker-dealers, banks, credit unions, RIA firms, robo advisory firms and family offices – looking to increase their utilization of life insurance in financial planning. This new platform combines the best of personalized advice and sophisticated design with cutting edge digital technology.
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“This new partnership deepens our reach into financial institutions,” said Jeff Ostrum, Managing Director of FinArch. “For many years, we’ve been working to partner more efficiently and Covr’s platform brings the functionality and scalability we need. As we serve the highest end of the financial advisor market, we look forward to continuing to do what we do best– helping clients improve their financial situation through highly customized life insurance solutions.”
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“Covr was fortunate to build scalable technology built around the financial advisor,” said Mike Kalen, CEO of Covr Financial Technologies. “However, FinArch’s sophisticated advice for super affluent clients takes the platform to a new level. This partnership fits perfectly and offers our customers another option for providing insurance solutions.”
This new platform offers advisors and their firms a single platform for managing insurance from client profile, case design, policy submission, policy delivery and inforce management. The platform has unique capabilities such as real time quoting, document sharing, e-signature, e-delivery, case tracking and digital policy review enablement. It also has the ability to perform suitability to help with Reg BI and Reg 187 compliance. FinArch and Covr created this partnership to bring technology-enabled, holistic advanced insurance design and relationship-based sales support together in one market-leading platform. The platform offers solutions that include estate planning, private placement life insurance, core insurance solutions, as well as more simple solutions like term life insurance, annuities and asset-based LTC.
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