Nuula | August 08, 2022
Nuula, a fintech company focused on providing small businesses the tools and the capital they need to succeed, today announced a new Term Life Insurance feature that provides small business owners and entrepreneurs with coverage options from a network of top carriers, powered by Even Financial ("Even"), a leading embedded finance marketplace platform, and independent subsidiary of MoneyLion Inc. Through the Nuula app, users will now be able to shop, compare and buy Term Life Insurance, with policies up to $5MM in coverage and terms of 10-40 years.
The policies in Nuula's new Term Life Insurance feature are generated and serviced by LeapLife, an insurtech platform and licensed life insurance agency, that is owned and operated by Even.
"While small business owners and entrepreneurs are investing in their business, they also need to more easily invest in themselves and in the security of their loved ones, Adding Term Life Insurance further expands the range of services we are delivering to meet the diverse needs of today's small business owner."
-Mark Ruddock, CEO at Nuula
Policyholders want a simpler way to shop around, compare policies and prices, and find a policy that is right for them, By partnering with Even, Nuula's small businesses are provided with a curated network of carriers rated A- and above by AM Best, world-class customer support and a search feature that matches people with the right policies and lowest available prices when and where they need it,said Andrew Naoum, SVP of Sales at Even.
Today's news follows the launch of a new personal loan search feature aimed towards early-stage small businesses, powered by Even.
Nuula is building the future of small business performance. Launched in 2021, Nuula is a financial services and technology company focused on serving the small to medium-sized business community. Nuula provides real-time data and analytics, allowing businesses to manage their finances, monitor their credit ratings and user reviews, and more. Nuula is an advocate of financial inclusivity and a proud partner to Kiva to create economic and social good.
About Even Financial and LeapLife
Even is the industry-leading embedded financial marketplace and independent subsidiary of MoneyLion Inc. ("MoneyLion") (NYSE: ML). MoneyLion is the go-to destination for personalized financial management, content, offerings and advice. As part of MoneyLion's enterprise offering, Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance carriers, and fintech companies on mobile apps, websites, and other digital touchpoints through its marketplace technology. Even's infrastructure leverages machine learning and advanced data science to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and channel partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Even enables any company to add financial products to its business, with full compliance and security at scale. Even was named one of "America's Best Startup Employers'' by Forbes for 2022 and was named to the 2021 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world.
LeapLife is a licensed life insurance agency that utilizes data science, deep underwriting knowledge, and proprietary technology, enabling consumers to apply for instant-decision life insurance policies with real-time quotes, available in all 50 states. LeapLife was acquired by Even Financial (Even) in early 2020.
CORE INSURANCE,INTELLECTUAL PROPERTY
Brown &amp; Brown, Inc. | September 14, 2022
J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc., and Scott Smithwick and Chris Smithwick, today announced that Brown & Brown of Massachusetts, Inc., a subsidiary of Brown & Brown, Inc., has acquired substantially all of the assets of Smithwick & Mariners Insurance, MidCoast Insurance and Chapman & Chapman Insurance (collectively, Smithwick & Mariners).
Originally founded in 1987 to service the marine industry (marinas, yacht clubs, boat builders, fishing vessels, tug operations and yachts), Smithwick & Mariners has evolved its capabilities to provide innovative risk solutions to business owners and individuals throughout Maine and greater New England. The Smithwick & Mariners companies are led by Scott Smithwick and Chris Smithwick. Following the acquisition, the Smithwick & Mariners team will continue doing business from their existing offices in Maine, Massachusetts and New Hampshire and will operate within Brown & Brown’s Retail segment. Scott and Chris will continue to lead the team and will report to Don McGowan, a regional president in Brown & Brown’s Retail segment.
“The Smithwick & Mariners companies are recognized in Maine and throughout New England for their experience and industry knowledge in the commercial fishing, marine and personal yacht space. Scott, Chris and their dedicated team have a long and mutually successful relationship with their carriers, allowing them to deliver best-in-class insurance solutions to their customers. We are confident we share the same culture of customer-first solutions and are excited to welcome them to the Brown & Brown team.”
Scott Smithwick stated, The Smithwick & Mariners team is excited to be partnering with a firm like Brown & Brown who shares the same level of commitment to its customers, carriers and employees that we have for the past 35 years. We are very confident that this partnership will help to further strengthen Smithwick & Mariners’ product offering and level of service to both our marine and non-marine related customers.
About Brown & Brown, Inc.
Brown & Brown, Inc. is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With over 14,500 teammates in 450+ locations worldwide, we are committed to providing innovative strategies to help protect what our customers value most.
Ohio National | September 07, 2022
In the life insurance industry, something totally new comes along only once in a great while. Game changers are rare, and this is one of them. Ohio National Financial Services, Inc. proudly announces the first and only indexed whole life insurance product, providing what no other life policy can: guaranteed protection, stability and index-based growth potential.
Indexed whole life from Ohio National provides a lifelong death benefit and cash accumulation guarantee, along with fixed premiums regardless of changes in health. These features have served generations of policyholders in the company’s traditional whole life products. With new indexed whole life, customers can get similar guarantees plus the opportunity to grow cash value in relation to stock market indexes such as the S&P 500® and Russell 2000®. Indexed-based allocation options offer significant growth potential, but because funds are not invested directly in the market, there is no risk of loss due solely to market performance.
The cash value can be accessed during the insured’s lifetime, generally on a tax-preferred basis, for almost any purpose, from supplementing retirement income to starting a business.
“Our new indexed whole life product is an important breakthrough for Ohio National and the financial professionals who sell our products, We’re thrilled to offer them a unique tool to help their clients reach their financial goals.”
-Karl Kreunen, vice president of product marketing
This product is something financial professionals can’t find anywhere else, We’re passionate about helping them develop client relationships and build their businesses with the addition of indexed whole life to their portfolios,added Pat McEvoy, senior vice president of life distribution and sales.
Ohio National’s debut indexed whole life product, Prestige Indexed 10 Pay, features 10 years of fixed premium payments and is currently available through independent financial professionals in all states except CA and NY.
About Ohio National
Since 1909, Ohio National has been committed to helping individuals, families and businesses protect what matters most. Through our network of financial professionals across 49 states (all except New York), the District of Columbia and Puerto Rico and through affiliated operations in South America, we provide the insurance products that help our policyholders achieve financial security and independence. As of December 31, 2021, its affiliated companies have $40.8 billion total assets under management. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Recognized as a Leader in Workplace Equity by Ellequate.