Abacus Global Management has announced the acquisition of AccuQuote, a provider of online life insurance brokerage services.
This acquisition will integrate AccuQuote’s digital distribution capabilities with Abacus’ expertise in financial planning and asset management.
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Abacus said the move aims to enhance its financial services platform and broaden customers’ access to insurance options.
The company views the acquisition as an opportunity to create synergies and reinforce its commitment to comprehensive wealth management solutions.
By incorporating AccuQuote’s platform, Abacus aims to better meet clients’ needs throughout their financial life cycle.
Abacus chairman and CEO Jay Jackson said: “The acquisition of AccuQuote further expands the breadth of our financial services platform.
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By GlobalData“By integrating their specialised digital insurance marketplace with our wealth management capabilities, we are eliminating traditional barriers between protection planning and asset growth.
“This acquisition enables us to deliver a truly integrated approach that addresses both wealth accumulation and preservation needs throughout the Abacus client life cycle.”
Abacus Global Management is listed on NASDAQ and provides alternative asset management and data-driven wealth solutions.
The company focuses on longevity-based assets and personalised financial planning, using in-house data analytics to optimise financial outcomes for clients.
AccuQuote, which has been operating in the insurance industry for more than four decades, claims to have assisted nearly 350,000 families in securing life insurance.
It has written $156bn in insurance policy benefits and generated $340m in premiums.
The company enables customers to compare insurance quotes from multiple carriers through a single platform, offering a streamlined process for obtaining coverage.
AccuQuote CEO Jeremy Hewett said: “Joining Abacus allows us to significantly expand our impact in the insurance marketplace.
“For four decades, AccuQuote has focused on creating transparency and choice for consumers navigating complex insurance decisions.
“Now, as part of Abacus’ ecosystem, we can extend our technological capabilities while connecting insurance solutions to broader wealth strategies – fulfilling our commitment to evolve alongside our clients’ financial needs.”
