ABL Technologies invests in Insured Connect to enhance insurance technology and improve data management between carriers and policyholders.
Quiver AI Summary
ABL Technologies, a subsidiary of Abacus Life, has announced a preferred equity investment in Insured Connect, a technology platform designed to enhance the connection between insurance carriers, distributors, and agents. This investment aims to address the increasing demand for advanced insurance technology while supporting Abacus's growth in the longevity sector. Abacus Chairman and CEO Jay Jackson expressed enthusiasm for this partnership, highlighting its potential to improve communication and sales in life insurance. Insured Connect President Rick Hyde emphasized how ABL Tech’s innovative approach will further their mission in the insurance technology space. Overall, this collaboration aims to create efficiencies and opportunities in the management of mortality data and life insurance distribution.
Potential Positives
- ABL Technologies is making a significant preferred equity investment in Insured Connect, which will enhance its growth in innovative technology for the life insurance sector.
- This partnership is expected to improve communication and access to information between insurers and policyholders, potentially driving an increase in new policy sales.
- The investment aligns with Abacus's strategy of leveraging cutting-edge data and technology in the longevity and insurance markets, strengthening its position as a leader in these sectors.
- With nearly $3 billion in assets under management, Abacus demonstrates substantial market influence and is poised for further growth through this technological investment.
Potential Negatives
- Investment in Insured Connect may divert company resources and focus from its core operations, which could impact its stability and profitability in the long term.
- The announcement does not provide specific details on the financial terms of the investment, raising questions about its size and potential implications for shareholder value.
- There is no mention of existing competitive pressures or market challenges that Insured Connect faces, which could suggest a lack of thorough risk assessment in the investment decision.
FAQ
What is the recent investment ABL Tech announced?
ABL Technologies announced a preferred equity investment in Insured Connect to enhance its insurance data and technology solutions.
How will the investment benefit Insured Connect?
The investment will enable Insured Connect to meet growing demand and improve data-driven communication in the life insurance sector.
What role does Abacus Life play in this investment?
Abacus Life, the parent company of ABL Tech, supports the investment to strengthen its growth in innovative technology related to longevity.
What services does ABL Tech provide?
ABL Tech offers advanced data, technology, and analytics solutions for managing mortality data and connecting beneficiaries with their benefits.
How does Insured Connect operate in the insurance industry?
Insured Connect connects carriers and policy owners using life and annuity data, enhancing customer engagement and compliance through a cloud-based platform.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ABL Insider Trading Activity
$ABL insiders have traded $ABL stock on the open market 4 times in the past 6 months. Of those trades, 0 have been purchases and 4 have been sales.
Here’s a breakdown of recent trading of $ABL stock by insiders over the last 6 months:
- MATTHEW GANOVSKY (Co-Founder and President) sold 156,250 shares.
- SEAN MCNEALY (Co-Founder and President) sold 156,250 shares.
- JAY J JACKSON (Chief Executive Officer) sold 2,031,250 shares.
- KEVIN SCOTT KIRBY (Co-Founder and President) sold 156,250 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$ABL Hedge Fund Activity
We have seen 36 institutional investors add shares of $ABL stock to their portfolio, and 18 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VANGUARD GROUP INC added 722,983 shares (+inf%) to their portfolio in Q3 2024
- AWM INVESTMENT COMPANY, INC. added 424,851 shares (+212.4%) to their portfolio in Q3 2024
- POINT72 ASSET MANAGEMENT, L.P. removed 284,406 shares (-47.4%) from their portfolio in Q3 2024
- BLACKROCK, INC. added 208,674 shares (+inf%) to their portfolio in Q3 2024
- CITADEL ADVISORS LLC removed 189,719 shares (-94.4%) from their portfolio in Q3 2024
- GOLDMAN SACHS GROUP INC added 162,165 shares (+17.2%) to their portfolio in Q3 2024
- GEODE CAPITAL MANAGEMENT, LLC added 140,054 shares (+439.6%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
ORLANDO, Fla., Nov. 27, 2024 (GLOBE NEWSWIRE) -- ABL Technologies, LLC (“ABL Tech”), a groundbreaking technology platform that revolutionizes how organizations manage and reconcile mortality data, and a subsidiary of Abacus Life, Inc. (“Abacus”) (NASDAQ: ABL), today announced it is providing a preferred equity investment to Insured Connect, an insurance data and technology platform that connects carriers, distributors and agents. This investment will enable Insured Connect to meet the growing demand for its innovative data & technology, while solidifying Abacus’s growth in innovative technology related to longevity and distribution of new insurance products.
“I’m excited to further strengthen Abacus’ dedication to data-driven innovation in the life insurance sector,” said Jay Jackson, Chairman and CEO of Abacus Life. “Insured Connect’s technology will bridge the gap between life insurance distribution, carriers, and policyholders, fostering better communication, improved access to information, and driving new policy sales.”
“We’re thrilled to partner with ABL Tech in this investment,” said Rick Hyde, President of Insured Connect. “As a technology-enabled pioneer in the longevity and lifespan space, ABL Tech represents the perfect partner for Insured Connect to continue to deliver our innovative insurance technology solutions and we are excited with what we can bring to the table.”
About ABL Tech
ABL Tech is a premier provider of sophisticated data, technology, and analytics solutions specifically tailored to identify mortality events and facilitate the connection of beneficiaries with their rightfully due benefits.
ABL Tech’s state-of-the-art platform empowers a wide array of clients, including businesses and pension plans, to meticulously track, analyze, and subsequently improve their management practices and risk evaluation processes concerning pensioners, beneficiaries, and policyholders.
Through its dedication to innovation and client-centric approach, ABL Tech is committed to enhancing the efficiency and effectiveness of mortality data management and analytics, thereby supporting a diverse range of industries and organizations across the nation in achieving their operational objectives.
About Abacus
Abacus is a pioneering global alternative asset manager and market maker specializing in uncorrelated financial products. The company leverages its proprietary, cutting-edge longevity data and actuarial technology to purchase life insurance policies from consumers seeking liquidity. This creates a high-return asset class uncorrelated to market fluctuations for institutional investors.
With nearly $3 billion in assets under management, including pending acquisitions, Abacus is the only publicly traded global alternative asset manager focused on lifespan-based financial products.
Abacus is expanding its leading expertise in longevity and lifespan into new growth areas:
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ABL Wealth - Leverages decades of data and proprietary algorithms to offer longevity-based wealth management platforms that enable financial advisors to create customized plans and provide access to uncorrelated investments.
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ABL Tech - A groundbreaking technology service that delivers advanced real-time data tracking and analysis for pension funds, governments, insurance companies, retirement associations, and more.
Through each new channel, Abacus is revolutionizing the future of asset management and financial planning, centered on longevity and lifespan.
About Insured Connect
Insured Connect is the first insurance technology company to leverage life and annuity data to connect Carriers with Policy Owners, helping them save money, increase revenue and meet compliance standards.
Insured Connect makes it easy for Carriers to directly connect with Policy Owners and other stakeholders by leveraging life and annuity data in an actionable way that creates opportunities for greater revenue and customer engagement while ensures compliance.
Insured Connect's simple, turnkey approach enables Carriers to put their data to work quickly without the need for complicated integration. Carriers benefit from a proven, cloud based platform that supports multiple distribution channels, while reducing costs and providing a better customer experience.
With full control over communications, Carriers not only meet industry regulations, but they also increase opportunities for new revenues through customer-centric engagement and marketing capabilities.
Contacts:
Investor Relations
Robert F. Phillips – SVP Investor Relations and Corporate Affairs
[email protected]
(321) 290-1198
David Jackson – IR/Capital Markets Associate
[email protected]
(321) 299-0716
Abacus Life Public Relations
[email protected]
