Bermuda-based reinsurance company, PartnerRe, has entered into a new partnership with life insurance focused insurtech, Ladder.
Ladder was established in 2015 and offers technology-driven insurance solutions designed to meet the demands of today’s consumers. By focusing on speed, ease, and affordability, the company looks to reinvent life insurance to be both simple and smart.
As explained by PartnerRe, Ladder has pioneered the use of machine learning to fully and instantly underwrite life insurance online. Resulting in a streamlined, ten-minute digital process and importantly, affordable pricing designed to help modern consumers care for their families.
Ladder’s policies are issued by Fidelity Security Life Insurance Company and Allianz Life Insurance Company of New York, with the firm now expanding its relationships with reinsurers via a new alliance with PartnerRe.
Chris Shanahan, President of PartnerRe Life Reinsurance Company of America, commented: “We could not be more excited for the opportunity to work with the team at Ladder and their existing partners. The progress that they have made together is impressive and we’re eager to contribute, and support Ladder’s future growth.
“We believe that innovation is fundamental to our industry’s ability to meet consumers’ needs and this new partnership underlines our commitment to supporting our clients as they evolve to grow their business.”
Jaime Hale, Chief Executive Officer (CEO) of Ladder, added: “We’re proud to be extending our reinsurance relationships through a new partnership with PartnerRe. True innovation in life insurance must happen on all fronts — great risk, great pricing, great customer experience. We’re thrilled about the things we can achieve in working together.”
This announcement comes days after it was revealed that Ladder has expanded its partnership with Hannover Re US.