SE2, an Eldridge business and life and annuity InsurTech, life.io, Breathe Life and Convergent, have evolved into Zinnia to power an open insurance experience.
Zinnia’s mission is to deliver a modern open insurance experience to its clients and equip them with the tools to reimagine how life and annuities are bought, sold, serviced and experienced.
According to Zinnia, the life and annuities market is shifting and consumer expectations have changed. As such, the company has positioned itself at the forefront of the shift towards digitisation and is on a mission to modernise the way the industry has historically operated, enhancing how consumers experience life insurance and annuities.
At the core of Zinnia’s offering is a system of record built on smart contracts and digital lender technology that updates in real time. The company explained this will create a trusted single source of information that can be distributed securely and effectively across the entire insurance ecosystem.
Zinnia 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. These capabilities will interoperate seamlessly with its new system of record to create the Open Insurance marketplace for life and annuities.
Michele Trogni, CEO of Zinnia, said, “At Zinnia, we want to take complexity and friction out of the experience our clients and their customers have today. 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.”
Brad Medd, chief technology officer of Zinnia, added, “Zinnia is about building a passionate culture driven to positively impact our industry through innovative and transformative technology solutions Fantastic experiences at every step of the end-to-end lifecycle are what we think should be expected and delivered.”
SE2 recently acquired Breathe Life, an SaaS platform for the insurance industry.
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