OVERLAND PARK, Kan., October 13, 2022–(BUSINESS WIRE)–SelectQuote, Inc. (NYSE: SLQT) at this time introduced a partnership with Symetra Life Insurance coverage Firm and Munich Re Life US to carry SwiftTerm ChooseSM, a brand new instantaneous determination1 point-of-sale time period life insurance coverage product with aggressive charges, to the SelectQuote platform. Starting within the fourth quarter of 2022, certified shoppers ages 18-60 will be capable to purchase as much as $2 million of same-day protection with no medical examination via SwiftTerm Choose.
SwiftTerm Choose shall be bought solely via SelectQuote, a pioneer of direct-to-consumer insurance coverage buying since 1985 that has helped tens of millions of shoppers discover the proper life insurance coverage protection. The custom-made time period life product will provide instantaneous determination underwriting via alitheia, a Munich Re Life US platform. Insurance policies shall be issued by Symetra, a frontrunner in annuities, life insurance coverage and worker profit merchandise, and solely reinsured by Munich Re Life US, a number one supplier of reinsurance and insurance-related danger options.
“We’re dedicated to reworking the insurance coverage shopping for and promoting course of via revolutionary product growth, know-how and strategic partnerships,” stated Phil Williamson, Vice President of Enterprise Growth at SelectQuote. “We imagine the way forward for life insurance coverage is a mix of a digital and agent expertise that seamlessly integrates real-time knowledge with cutting-edge underwriting know-how, offering shoppers with high-quality decisions at aggressive costs.”
SwiftTerm Choose displays Symetra’s dedication to delivering insurance coverage that’s quick, simple and inexpensive by providing each the agent and the buyer a easy and seamless time period life insurance coverage shopping for expertise, going from the preliminary questionnaire to issuing a coverage in as little as 25 minutes for certified shoppers.
“We’re excited to accomplice with SelectQuote and Munich Re Life US on this tradition providing. Empowering clients is on the core of why we constructed SwiftTerm Choose, and SelectQuote’s mixture of the digital and agent expertise aligns instantly with that mission. Collectively, with Munich Re Life US, we created a chance to increase our attain by making it even simpler for patrons to acquire time period life insurance coverage protection,” stated Mindi Work, Senior Vice President, Chief of Technique at Symetra.
“Munich Re Life US is dedicated to growing instruments and options our shopper companions must develop their enterprise intelligently. With alitheia, Munich Re Life US’s instantaneous decisioning danger evaluation platform, we’re enabling carriers to modernize their clients’ shopping for expertise, with out materials affect to mortality outcomes. We’re excited to accomplice with SelectQuote and Symetra to carry SwiftTerm Choose to market by leveraging the facility of alitheia and Munich Re Life US’s deep danger evaluation experience,” stated Adnan Haque, 2nd Vice President of Built-in Analytics at Munich Re Life US.
“The distinctive course of, innovation and know-how powering this new product are a testomony to our three organizations coming collectively. We’re enthusiastic about SwiftTerm Choose and the optimistic affect it can have on the buyer’s buying expertise, demonstrating our mission of ‘We Store. You Save’” stated Ryan Souan, Government Vice President, Life Division at SelectQuote.
Ahead Wanting Assertion
This launch comprises forward-looking statements. These forward-looking statements replicate our present views with respect to, amongst different issues, future occasions and our monetary efficiency. These statements are sometimes, however not at all times, made via using phrases or phrases resembling “could,” “ought to,” “might,” “predict,” “potential,” “imagine,” “will possible consequence,” “anticipate,” “proceed,” “will,” “anticipate,” “search,” “estimate,” “intend,” “plan,” “projection,” “would” and “outlook,” or the damaging model of these phrases or different comparable phrases or phrases of a future or forward-looking nature. These forward-looking statements usually are not historic details, and are primarily based on present expectations, estimates and projections about our business, administration’s beliefs and sure assumptions made by administration, lots of which, by their nature, are inherently unsure and past our management. Accordingly, we warning you that any such forward-looking statements usually are not ensures of future efficiency and are topic to dangers, assumptions and uncertainties which might be tough to foretell. Though we imagine that the expectations mirrored in these forward-looking statements are cheap as of the date made, precise outcomes could show to be materially completely different from the outcomes expressed or implied by the forward-looking statements.
Our precise outcomes could differ materially from these indicated in these forward-looking statements on account of plenty of necessary elements, together with, however not restricted to, the next: the last word period and affect of the continuing COVID-19 pandemic; our reliance on a restricted variety of insurance coverage provider companions and any potential termination of these relationships or failure to develop new relationships; current and future legal guidelines and rules affecting the medical insurance market; adjustments in medical insurance merchandise provided by our insurance coverage provider companions and the medical insurance market typically; insurance coverage carriers providing services on to shoppers; adjustments to commissions paid by insurance coverage carriers and underwriting practices; competitors with brokers, solely on-line brokers and carriers who choose to promote insurance policies on to shoppers; competitors from government-run medical insurance exchanges; developments within the U.S. medical insurance system; our dependence on income from carriers in our senior phase and downturns within the senior well being in addition to life, automotive and residential insurance coverage industries; our means to develop new choices and penetrate new vertical markets; dangers from third-party merchandise; failure to enroll people in the course of the Medicare annual enrollment interval; our means to draw, combine and retain certified personnel; our dependence on lead suppliers and talent to compete for leads; failure to acquire and/or convert gross sales results in precise gross sales of insurance coverage insurance policies; entry to knowledge from shoppers and insurance coverage carriers; accuracy of data supplied from and to shoppers in the course of the insurance coverage buying course of; cost-effective commercial via web serps; means to contact shoppers and market merchandise by phone; international financial situations, together with inflation; disruption to operations on account of future acquisitions; important estimates and assumptions within the preparation of our monetary statements; impairment of goodwill; potential litigation and claims, together with IP litigation; our current and future indebtedness; entry to further capital; failure to guard our mental property and our model; fluctuations in our monetary outcomes attributable to seasonality; accuracy and timeliness of commissions stories from insurance coverage carriers; timing of insurance coverage carriers’ approval and cost practices; elements that affect our estimate of the constrained lifetime worth of commissions per policyholder; adjustments in accounting guidelines, tax laws and different laws; disruptions or failures of our technological infrastructure and platform; failure to keep up relationships with third-party service suppliers; cybersecurity breaches or different assaults involving our methods or these of our insurance coverage provider companions or third-party service suppliers; our means to guard client info and different knowledge; and failure to market and promote Medicare plans successfully or in compliance with legal guidelines. For an extra dialogue of those and different danger elements that would affect our future outcomes and efficiency, see the part entitled “Threat Components” in our most up-to-date Annual Report on Type 10-Okay that we’ve got filed with the Securities and Alternate Fee, and our subsequent filings with the Securities and Alternate Fee. Accordingly, you shouldn’t place undue reliance on any such forward-looking statements. Any forward-looking assertion speaks solely as of the date on which it’s made, and, besides as in any other case required by regulation, we don’t undertake any obligation to publicly replace or evaluation any forward-looking assertion, whether or not on account of new info, future developments or in any other case.
About SelectQuote:
Based in 1985, SelectQuote (NYSE: SLQT) gives options that assist shoppers defend their most beneficial property: their households, well being, and property. The corporate pioneered the mannequin of offering unbiased comparisons from a number of, highly-rated insurance coverage corporations permitting shoppers to decide on the coverage and phrases that greatest meet their distinctive wants. Two foundational pillars underpin SelectQuote’s success: a powerful drive of highly-trained and expert brokers who present a consultative wants evaluation for each client, and proprietary know-how that sources and routes high-quality leads.
With an ecosystem providing excessive touchpoints for shoppers throughout Insurance coverage, Medicare, Pharmacy, and Worth-Based mostly Care, the corporate now has 4 core enterprise traces: SelectQuote Senior, SelectQuote Healthcare Providers, SelectQuote Life, and SelectQuote Auto and Residence. SelectQuote Senior serves the wants of a demographic that sees round 10,000 individuals flip 65 every day with a variety of Medicare Benefit and Medicare Complement plans. SelectQuote Healthcare Providers is comprised of the SelectRx Pharmacy, a specialised remedy administration pharmacy, and Inhabitants Well being which proactively connects its members with best-in-class healthcare companies that match every member’s distinctive healthcare wants. The platform improves well being outcomes and lowers healthcare prices via proactive engagement and entry to high-value healthcare options.
About Symetra
Symetra Life Insurance coverage Firm is a subsidiary of Symetra Monetary Company, a diversified monetary companies firm primarily based in Bellevue, Washington. In enterprise since 1957, Symetra gives worker advantages, annuities and life insurance coverage via a nationwide community of profit consultants, monetary establishments, and unbiased monetary professionals and insurance coverage producers. For extra info, go to www.symetra.com.
SwiftTerm Choose is a time period life insurance coverage coverage issued by Symetra Life Insurance coverage Firm, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004. Coverage type quantity is ICC22_LC1 in most states and isn’t accessible in all U.S. states or any U.S. territory.
Ensures and advantages are topic to the claims-paying means of the issuing life insurance coverage firm.
SwiftTerm ChooseSM is a service mark of Symetra Life Insurance coverage Firm.
1 On the spot decisioning is out there most often however every software drives the underwriting expertise and outcomes, with three doable paths to protection: On the spot Approval, Accelerated Underwriting, and Full Underwriting.
About Munich Re Life US
As one of many main life reinsurers in america, Munich Re Life US companions with insurers to leverage good and linked knowledge, embrace new concepts and applied sciences, make assured choices at pace and scale, and acquire an exponential understanding of underlying dangers. Munich Re Life US is well-known within the business as an innovation chief with in depth technical depth. Its optimized options and capital administration experience increase past market main choices in particular person life, group, particular person incapacity and dwelling advantages reinsurance, to a worldwide heart for predictive analytics, automated underwriting, digital partnerships and standard-setting underwriting and medical capabilities. Munich Re Life US believes the digital financial system gives an unprecedented alternative for the life insurance coverage business to quickly advance danger evaluation and shut the widening international underinsured hole.
Munich Re Life US, integrated as Munich American Reassurance Firm, is a subsidiary of Münchener Rückversicherungs- Gesellschaft Aktiengesellschaft in München (“Munich Re”). It has excessive scores for monetary power from A.M. Finest Firm and Requirements & Poors. Munich Re Life US serves purchasers all through america from its two areas in New York and Atlanta.
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Contacts
Matt Gunter
Communications and Investor Relations
SelectQuote, Inc.
matt.gunter@selectquote.com
O: 913.286.4931