FORT MYERS, FL / ACCESSWIRE / June 6, 2023 / Today, Pendella has announced that its white-label life insurance offerings are now available through isolved, the provider of People Cloud, an intelligently connected human resources, benefits and payroll platform used by more than 145,000 U.S. employers. With this partnership, thousands of additional employees and their families will have the option to purchase individual life insurance coverage in addition to their employer-provided group coverage policies.
About 50 percent of U.S. households have no individual life insurance coverage and many more are underinsured according to multiple reports. This severe coverage gap is due in large part to a lack of awareness of the benefits of individual insurance. Many people don't realize that their employer-provided group coverage policies typically provide inadequate protection in case of a life-altering event. These group coverage policies also don't allow for much customization and, worst of all, don't transfer when an employee switches jobs.
By partnering with isolved, Pendella hopes to raise awareness about the need for individual life insurance, while also making it more convenient for employees to sign up for the sort of comprehensive policies that they need. Once signed up, employees are free to choose a customized life insurance option based on their needs and budget, coverage that will stay with them even if they leave their current employers.
'Life insurance is a fundamental need, and isolved is proud to partner with Pendella to get even more individuals covered,' said Pragya Malhotra, Chief Product Officer at isolved. 'As an isolved partner, Pendella is a tremendous resource for the over 5 million employees using People Cloud to grow their careers and financial wellbeing.'
Bob Gaydos, the CEO and founder of Pendella, emphasized the increasing importance for employers to receive adequate support in offering the appropriate coverage options to their employees, considering the expanding range of life insurance choices and services in recent years. 'With our collaboration with isolved, our aim is to extend the availability of our coverage options to a broader audience of employees, enabling them to make the most of these opportunities.'
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 system 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. Pendella's white-label customization creates a seamless end-to-end experience, providing instant life and disability insurance in minutes, with no paperwork, no medical exams, and minimal effort.
isolved is the most-trusted HCM technology leader, providing the best combination of software and services to meet the needs of today's People Heroes - HR, payroll, and benefits professionals. From talent acquisition to workforce management to talent management, our solutions are delivered directly or through our HRO partner network to more than 5 million employees and 145,000 employers across all 50 states - who use them every day to increase productivity, accelerate decision-making and ensure performance, while reducing risk. isolved People Cloud, our intelligently connected platform, automates the entire employee experience by design, so that organizations can engage, empower, and energize their talent while freeing their People Heroes to exceed their goals and grow their careers.
SOURCE: Pendella Technologies
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