Pendella-Velocity Benefits Partnership Expands Access to Critical Life Insurance Products to Thousands of Employees

FORT MYERS, Fla., July 14, 2022 (GLOBE NEWSWIRE) -- Pendella Technologies’ white-labeled life insurance offerings are now available through Velocity Benefits, a technology-focused employee benefits provider serving more than 2,500 companies and nearly 20,000 employee benefit brokers nationwide.

Through the new partnership with Pendella, a fast-growing technology company on a mission to take the bias out of life insurance, Velocity’s nationwide benefit offerings have expanded to include essential individual life and disability insurance protections.

Pendella is revolutionizing the life insurance market by empowering organizations like Velocity to seamlessly integrate its white-labeled digital product. Pendella’s proprietary recommendation engine tailors life insurance options to meet the unique needs of every customer regardless of age, health condition, or income level.

Velocity’s employer and broker clients can easily provide access to a variety of affordable and top-quality life insurance coverage options. Comprehensive individual policies can be purchased from leading insurers in minutes – without the need for a medical exam. The individual coverage can supplement group employer-sponsored group life insurance or be purchased as a standalone policy.

While group life insurance policies continue to be a popular employee benefit, interest in individual life insurance policies has increased over the last two years due to the COVID-19 pandemic, according to financial research firm LIMRA. New total life annualized policy premiums were up 20% last year, LIMRA said, representing the highest annual growth since 1983. LIMRA forecasts whole life sales will grow as much as 10% in 2022, with continued growth in 2023.

“Consumers want options and simplified access to life insurance protections. Pendella’s technology provides this and more, and we are thrilled to be working with them to bring another valuable benefit to our clients,” said Joseph Duckett, Founder of Velocity Benefits.

“There’s never been a better time to sell life insurance and Pendella is committed to making it easy and affordable for everyone to obtain coverage,” said Bob Gaydos, Pendella CEO and founder. “Pendella is excited to work with forward-thinking partners like Velocity as we continue our mission of closing the protection gap.”

About Pendella

Pendella is a technology company that exists to make the financial protection of individual life and disability insurance available to all people, regardless of age, health status, or income level. Pendella's full-stack, enterprise SaaS solution is powered by artificial intelligence and big data to automate underwriting and deliver a simple, intuitive, and delightful experience to thousands of people through partnerships with top-rated insurance carriers and distributors. White-label customization enables a seamless end-to-end experience. Instant life and disability insurance in minutes. No paperwork. No medical exams. Minimal-effort implementation.

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Source: Pendella