(Image source: Zinnia homepage.)
SE2, a Topeka, Kansas-based Eldridge (Greenwich, Conn.) business and life and annuity insurance technology and services company, has announced that it will rebrand as announced its evolution into. A statement from the company says that, under its new name Zinnia, it will deliver clients a modern Open Insurance experience and the tools to reimagine how life and annuities are bought, sold, serviced, and experienced.
The announcement of the rebranding says that at the heart of Zinnia is a new system of record built on smart contracts and digital ledger technology that updates in real-time and will create a trusted “single source” of information that can be distributed securely and effectively across the entire insurance ecosystem.
“At Zinnia, we want to take complexity and friction out of the experience our clients and their customers have today,” comments Michele Trogni, CEO, Zinnia. “Simplification is at the core of the changes we are making, and Open Insurance will enable the growth of our industry at a pace that reflects the real value that these products bring to the consumer.”
Zinnia says that it is embracing a shift in the life and annuities market toward digitization, and will strive to modernize the way the industry has historically operated, enhancing how consumers experience life insurance and annuities. The company says it will continue to offer TPA services powered by a fully digital experience incorporating hybrid origination and distribution tools, customer engagement capabilities, and pricing and trading. Zinnia says these capabilities will interoperate seamlessly with its new system of record to create the Open Insurance marketplace for life and annuities.
”Zinnia is about building a passionate culture driven to positively impact our industry through innovative and transformative technology solutions,” says Brad Medd, CTO, Zinnia. “Fantastic experiences at every step of the end-to-end lifecycle are what we think should be expected and delivered.”
Transforming the L&A Industry
Open Insurance leverages Zinnia’s partnership with Digital Asset (New York) to build a platform that is oriented towards transforming the life and annuity industry, standardizing best practices, and leveraging technology to create efficiencies, according to the vendor.
“The insurance industry is hungry for change and Zinnia is laser focused on delivering innovation,” comments Yuval Rooz, Co-Founder and CEO at Digital Asset. “We are excited for Zinnia to use Daml as the technology behind its new system of record. With Daml, Zinnia will be able to share real-time data updates across the insurance value chain, while keeping sensitive information private with the scalability necessary to support a growing digital marketplace.”