Pendella, PayDay Employer Solutions Partnership a Big Boost to Small Business Employee Benefits | News

Date:


FORT MYERS, Fla., July 06, 2022 (GLOBE NEWSWIRE) — Pendella Technologies, a fast-growing technology company on a mission to take the bias out of life insurance, and PayDay Employer Solutions, a boutique payroll company servicing small-to-medium sized businesses, will expand access to individual life insurance protections to more than 30,000 employees nationwide through a new partnership.

Pendella’s white-labeled, embedded insurtech platform will be linked to in PayDay’s employee portal, giving its 3,000 employer clients the ability to offer their employees affordable life insurance coverages from top-rated national providers.

CHOOSE YOUR CHOICE GIFT CARD OFFER TODAY

PayDay is a family-owned company based in New Jersey and New York that provides traditional payroll and HR services to SMEs, including workers’ compensation, time tracking services, pensions and benefits. Through Pendella’s AI-powered underwriting technology, PayDay will offer employees the ability to easily compare, quote and buy individual life insurance protection in minutes – without the need for a medical exam.

Awareness of the need for individual life insurance is growing, thanks in part to the pandemic. Policy sales are also increasing as a result, with total life insurance premium up 20% in 2021, the highest annual growth since 1983, according to financial research firm LIMRA. Still, LIMRA notes more than 100 million Americans are currently either under or uninsured when it comes to life insurance coverage.

“At PayDay, we are committed to doing what is best for our employer clients and that means ensuring their employees have access to critical benefits,” said Renee Deal, PayDay president and partner. “We are excited to work with Pendella to add another valuable tool to our offerings that also helps people protect their most important assets.”

“PayDay is a forward-thinking company that understands our mission of bringing the financial protection of individual life and disability insurance to all people,” said Pendella CEO and Founder Bob Gaydos. “By working together, we are taking a huge step forward in closing the life insurance protection gap, and we are excited to add them to our growing list of outstanding partners.”

About Pendella

Pendella is a technology company that exists to make the financial protection of individual life and disability insurance available to all people, regardless of age, health status, or income level. Pendella’s full-stack, enterprise SaaS solution is powered by artificial intelligence and big data to automate underwriting and deliver a simple and intuitive experience to thousands of people through partnerships with top-rated insurance carriers and distributors. White-label customization enables a seamless end-to-end experience. www.Pendella.com, Linkedin.com/company/Pendella

For more information or to schedule an interview contact: Marketing@Pendella.com

Copyright 2022 GlobeNewswire, Inc.



Source link

CHOOSE YOUR CHOICE GIFT CARD OFFER TODAY

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Wedding guitarist and real estate investor brings in $245,000 a year

This story is part of CNBC Make It's Millennial Money series, which details how people around the world earn,...

Insurance Education Association (IEA) Announces Launch of On-Demand Curriculum in Disability and Absence Management. – InsuranceNewsNet

IEA's Certified Professional in Disability Management (CPDM) Designation Now Available On-Demand EL SEGUNDO, Calif., Aug. 18, 2022 /PRNewswire/...

PCF Insurance Services Acquires California-Based John E. Peakes Insurance Agency, Inc. – InsuranceNewsNet

LEHI, Utah, Aug. 18, 2022 /PRNewswire/ -- PCF Insurance Services (PCF), a top 20 U.S. insurance brokerage...