Quility Announces Collaboration With SBLI and Afficiency Preceding Launch of Simplified Issue Term Product
ASHEVILLE, N.C., August 26, 2021 (Newswire.com) - Quility Insurance, a digital platform offering financial solutions through either an online application or a licensed insurance agent, announced its collaboration with Afficiency, a startup that designs, builds and delivers life insurance via API, and SBLI® (The Savings Bank Mutual Life Insurance Company of Massachusetts).
This strategic collaboration will provide Quility clients with a simplified issue term life insurance product through Afficiency's all-encompassing digital platform. By combining the ideal requirements of a term life insurance product, Quility structured a digital-first solution to meet the needs of consumers looking for affordable premiums, customized term lengths, strong riders, and instant underwriting.
"Leveraging Afficiency's enhanced data and machine learning platform, we will enable Quility's vast array of agents, clients and carriers with smarter and better choices. The impact will be revolutionary," said Mark Palmer, Quility's Chief Strategy Officer.
The product can be purchased through an entirely digital process with an on-the-spot decision. Clients can apply online from the comfort of home through a digitized process and receive their new policy in just minutes. The application is also available for Quility's nationwide team of licensed life insurance agents to introduce to their clients.
"This partnership is a highly valued collaboration that delivers innovative digital solutions, supporting our market synergies and aligning with SBLI's product and distribution strategy," said Denis Clifford, SVP of Sales & Distribution at SBLI.
"We are excited about the future of our collaborative work with Quility," said Mark Scafaro, Co-Founder and CEO of Afficiency. "Through our partnership with SBLI, we are able to leverage the power of our digital platform with a best-in-class carrier to provide Quility clients with the right product at the right time to meet the needs of American families nationwide."
Quility is backed by more than 4,000 licensed insurance agents nationwide, providing clients with convenient access to expert advice and support.
About Quility
Quility uses innovative and proprietary technology to modernize the process of qualifying for and purchasing life insurance. The Quility digital platform offers clients the option to apply for life insurance online through a ten-minute application with the support of a licensed insurance agent. To learn more, visit quility.com.
About SBLI
For over 115 years, SBLI 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 simple, dependable protection at a fair price.
About Afficiency
Afficiency is an insurtech company making life insurance easier to understand and purchase. Afficiency developed a digital life insurance platform that allows new products to be quickly stood-up and made available for digital distribution, completely via API. All of Afficiency's life insurance products are designed to be digitally underwritten and issued within seconds. Afficiency has been partnering with carriers and re-insurers since late 2018 to bring products to market. The team has also been working with some traditional and new distribution channels to deliver these products.
Source: Quility
