Sagicor Life Insurance and Vida Life Partner to Combine Strengths

The strategic partnership unites Sagicor’s products and underwriting process with Vida’s bilingual expertise to create a new life insurance purchasing experience.

(Image source: Sagicor Life.)

Sagicor Life Insurance Company (Scottsdale, Ariz.) and Vida Life (Los Angeles), an InsurTech distributor focused on mobile-accessible insurance products for the the Hispanic market, have undertaken a strategic partnership whereby Sagicor’s products and Accelewriting underwriting process will be combined with Vida’s insights in creating a quality bilingual experience to allow both companies to provide a new life insurance purchasing experience.

Bart Catmull, President and COO, Sagicor.

“This partnership supports Sagicor’s continued commitment to innovative life insurance products that are easily accessible to our family, friends, and neighbors,” comments Bart Catmull, President and COO, Sagicor. “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.”

Sagicor makes for a good partner with Vida’s owing in part to the company’s history of providing excellent products to the Hispanic community, according to James Juarez, Co-Founder and CEO, Vida. “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,” he says. “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.”

Sagicor and Vida say their partnership offers individuals a straightforward way to protect their families through a direct-to-consumer mobile insurance platform with the following characteristics as described in a joint statement:

James Juarez, Co-Founder and CEO, Vida.

Easy Online Application: Get a personalized quote, apply online, and receive a decision in minutes.

No Medical Exam Required: Answer a few simple health questions online.

Quick Benefit Payout: Benefits are typically paid out quickly and are income tax-free.2

Guaranteed Rate and Coverage for the Life of the Policy: Coverage and rates are locked for the life of the policy as long as all scheduled payments are made.

Affordable Protection for 10, 15, or 20 Years: Up to $1,000,000 in term life insurance coverage.

“Over the last couple of months, we’ve all experienced a level of uncertainty with the COVID-19 pandemic,” adds Catmull. “In the midst of this chaos, Sagicor has provided stability and comfort to help protect the ones you love most. I’m confident that we will continue to make a difference through this partnership.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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