SBLI Announces Partnership with Plum Life

Distribution agreement serving the broker community with this new digital platform is SBLI’s latest in a series of alliances with industry leaders

WOBURN, Mass.--(BUSINESS WIRE)--
SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) today announced a distribution partnership with Plum Life, a life insurance technology company that offers an agent-only digital experience designed to simplify the entire process of selling life insurance, from quoting to application to issue.

Under the new partnership, SBLI’s guaranteed level premium term life insurance products will be available through Plum Life’s digital platform. It is the latest in a series of relationships established by SBLI with a number of digitally forward-thinking premier industry distribution partners.

“This strategic partnership supports SBLI’s continued commitment to build diversification in its Brokerage distribution and to be the partner of choice for seamless integration and simple solutions,” said Denis Clifford, Senior Vice President, Distribution at SBLI.

“We’re on a journey to create the best life insurance selling experience in the industry and our partnership with SBLI is a big part of that,” says Manish Bhatt, CEO & Co-Founder of Plum Life.

Plum Life has created the ideal life insurance experience, combining the confidence of working with an insurance advisor with the ease and convenience of buying online. Designed specifically for the life insurance industry, Plum Life’s integrated platform allows advisors and their clients to access and manage their accounts anywhere, any time.

About 90 percent of life insurance sales are made by advisors¹, yet there is a gap in the market for an advisor-focused digital buying platform. Plum Life fills that gap, with a solution that allows advisors to offer their clients a digital buying experience along with the help and guidance they seek in making their purchase decision.

About SBLI

For nearly 115 years, SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) has specialized in providing hassle-free, affordable life insurance. Whether it be term life, whole life or a plan that combines the two, we offer dependable protection, at a fair price.

About Plum Life

Plum Life is on a mission to create the ideal life insurance experience where the confidence of working with an advisor and the ease and convenience of buying online meet in one place. At its core, Plum Life is a Life Insurance technology company. The company offers an agent-only digital experience designed to simplify the entire process of selling life insurance from quoting to application to issue. Designed especially for the life insurance industry, Plum Life’s integrated platform combines the capabilities of a modern technology company and the personal attention and service of an advisor. Founded in 2020, and based in Warren, New Jersey, the company leverages its proprietary technology platform fueled by Machine Learning, behavioral science, AI and Swiss Re's Magnum. Learn more at www.helloplum.com

¹ Rethinking U.S. Life Insurance Distribution, McKinsey & Company, May 2016

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Denis Clifford
SVP, Distribution

781-994-4266

dclifford@sbli.com

Source: SBLI