US-based particular person life and incapacity insurtech Pendella Applied sciences has cast an alliance with Vensure Employer Companies.
Below the collaboration, Pendella will provide its white-label particular person insurance coverage through Vensure Employer Companies’ HR consulting and assist division VensureHR.
By way of the alliance, Pendella’s particular person life and incapacity insurance coverage might be accessible to VensureHR’s 900,000 worksite staff.
On this context, the insurtech cited a examine that discovered round 50% of US households not having any particular person life insurance coverage protection.
A number of individuals as an alternative rely on group insurance coverage supplied by their employer, which gives a lot much less protection than a person coverage and doesn’t switch when staff change jobs, it added.
By becoming a member of forces with VensureHR, Pendella hopes to shut the hole by making it simpler for employees members to get complete particular person life insurance coverage insurance policies.
Pendella CEO and founder Bob Gaydos stated: “At Pendella Applied sciences, we recognise that there’s a big hole in life insurance coverage protection that has left many individuals with out correct protection for the surprising.
“By way of this partnership with VensureHR, we hope to offer staff with the means and schooling to decide on a person protection coverage that may correctly defend their households.”
Moreover, the collaboration is predicted to unfold consciousness in regards to the significance of buying particular person life insurance coverage.
Vensure Employer Companies chief advantages officer Dan Thompson stated: “VensureHR stays dedicated to offering shoppers with all the pieces they should deal with the challenges of efficient HR administration.
“We’re excited to have Pendella Applied sciences at our aspect, who we’re sure will present the mandatory life insurance coverage advantages that our shopper’s staff can take full benefit of.”