View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 15, 2020

Sagicor Life Insurance forges alliance with insurtech Vida Life

By Verdict Staff

Sagicor Life Insurance Company has formed a strategic partnership with insurtech Vida Life to offer a new life insurance purchasing experience to customers.

Free Report
img

What will drive the cyber insurance market over the next 3 years?

The global cyber insurance market was worth $7bn in gross written premiums (GWP) in 2020. It will reach $20.6bn by 2025, as the market will continue to thrive post-COVID-19. Our recent report on Cyber Insurance reveals that cybersecurity was thrust into the spotlight in 2020 as COVID-19 forced businesses to digitize their processes and adopt remote working practices overnight. The pandemic also presented an opportunity for cybercriminals to exploit global panic, with a surge in cyberattacks occurring in 2020. The need for cyber insurance is apparent, but the market is not as easy to navigate as it once was. Use our report to guide and help you to:
  • Benchmark yourself against the rest of the market.
  • Ensure you remain competitive as new innovations and insurance models begin to enter the fray.
  • Prepare for how regulation will impact cyber insurance over the next few years.
Download the full report to understand what to expect and how to align your business for success.
by GlobalData
Enter your details here to receive your free Report.

Under the partnership, the companies will offer income tax-free life term protection through a direct-to-consumer mobile insurance platform.

The new offering, which can be applied online, is designed to help customers to get personalised quotes and receive a decision in minutes.

Sagicor president and chief operating officer Bart Catmull said: “This partnership supports Sagicor’s continued commitment to innovative life insurance products that are easily accessible to our family, friends, and neighbours.

“With Vida’s advanced relationships in the Hispanic community and Sagicor’s solutions, we have a unique opportunity to continue to provide growth and protection to our customers in a very under-served market.”

The new life term protection offered by the companies eliminates the need for medical exams with a set of health questions that can be filled online. Additionally, it is claimed to offer quick benefit payouts.

Vida co-founder and CEO James Juarez said: “They met the criteria we were looking for in a partner — a full-service life insurance company, a history of trustworthiness and strength, and a commitment to offering customers world-class service with integrity and value.

“Coming from a multicultural background, we felt that this partnership would help ensure wealth and prosperity in the Hispanic community as well as all cultures.”

Earlier in 2017, Sagicor selected Insurance Technologies’ sales platform to allow users to obtain a quick quote and apply for life insurance plan in minutes.

Free Report
img

What will drive the cyber insurance market over the next 3 years?

The global cyber insurance market was worth $7bn in gross written premiums (GWP) in 2020. It will reach $20.6bn by 2025, as the market will continue to thrive post-COVID-19. Our recent report on Cyber Insurance reveals that cybersecurity was thrust into the spotlight in 2020 as COVID-19 forced businesses to digitize their processes and adopt remote working practices overnight. The pandemic also presented an opportunity for cybercriminals to exploit global panic, with a surge in cyberattacks occurring in 2020. The need for cyber insurance is apparent, but the market is not as easy to navigate as it once was. Use our report to guide and help you to:
  • Benchmark yourself against the rest of the market.
  • Ensure you remain competitive as new innovations and insurance models begin to enter the fray.
  • Prepare for how regulation will impact cyber insurance over the next few years.
Download the full report to understand what to expect and how to align your business for success.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive.
SUBSCRIBED