Pendella Technologies, a fast-growing technology company on a mission to take the bias out of life insurance, and financial services firm The Richards Group (TRG) announced a strategic partnership that will expand the availability of life and disability insurance to thousands of individuals in the Northeast.
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More than 20,000 TRG clients will now have access to a variety of affordable individual life insurance and income protections from top-rated national insurance providers.
The Richards Group is a family-owned independent insurance, employee benefits and financial services firm serving clients throughout Vermont, New Hampshire and Massachusetts. TRG’s team of nearly 150 insurance professionals work with clients as a trusted advisor, providing comprehensive risk management, benefits and investment services to individuals, families, and employers.
Pendella’s white-labeled life and disability insurance platform will be integrated into TRG’s website and client portals, enabling a fully-digital experience to shop, compare and purchase important financial protection in minutes, without the need for a medical exam.
Pendella’s AI-powered recommendation engine automates the insurance underwriting process to provide a simplified, highly intuitive policy-buying experience for anyone looking to protect their family’s financial future, regardless of age, health condition or income level.
“TRG looks for partners who, like us, are committed to helping their clients more effectively run their business with outstanding products and service. Pendella is doing just that, and by working together we can enhance our benefit options and continue our commitment to proactive service,” said Tom Scull, Vice President of TRG.
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Interest in life insurance is growing among workers, according to financial research firm LIMRA, which found workplace life insurance premium was up 32% in the fourth quarter of 2021 compared with the same time last year. Permanent life insurance premium increased 44% in 2021, and LIMRA is forecasting whole life sales to grow as much as 10% in 2022, with continued growth in 2023.
“Pendella is on a mission to make it easier for people to protect their family’s future,” said Pendella CEO and Founder Bob Gaydos. “Partnering with exceptional companies like The Richards Group is another step forward for us in closing the life insurance protection gap.”
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