Pendella Technologies, a fast-growing technology company on a mission to take the bias out of life insurance, will bring its white-labeled life and disability insurance platform to more small business employers through a new arrangement with Colorado-based Partners PEO.
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Thanks to Pendella’s AI-powered, embedded technology, Partners PEO clients can now offer their employees the ability to easily compare, quote and buy critical financial protection online in minutes, without the need for a medical exam.
The partnership expands Partners PEO’s current offerings for high-risk industries, which also includes payroll, safety, workers’ compensation, human resources, and other employee benefits.
The Pendella platform provides access to a variety of affordable individual life and disability insurance coverages from top-rated national providers. The simplified underwriting gives all people – regardless of age, health status, or income level – the opportunity to purchase individual life and disability insurance policies for a low monthly payment.
“Adding Pendella’s life and disability insurance protection allows us to fulfill our promise of being an all-encompassing service partner to our clients. We know employers are looking for more ways to attract and retain talent and adding important benefits like these will provide great comfort to employees and their families,” said Partners PEO CEO, Darlene Suer.
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Consumer awareness and demand for life insurance has peaked nationwide in the last few years thanks to the COVID-19 pandemic, according to financial research firm LIMRA. Three in 10 Americans say they are more likely to purchase coverage than they were a few years ago, a recent LIMRA survey found, and policy sales are steadily increasing. Whole life premium was up 27% in the fourth quarter of 2021, LIMRA said, the strongest quarterly premium growth in 30 years.
“I started Pendella to help close the life insurance protection gap by making it easier for people to secure the coverage they need,” said Pendella Founder and CEO, Bob Gaydos. “We are looking for more forward-thinking PEOs like Partners to help us reach the more than 100 million Americans who lack adequate – or any – life insurance protection.”
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