NORTHFIELD, Ill., Jan. 12, 2021 /PRNewswire/ — Beacon Annuity Solutions®, a leading provider of cloud-based annuity software and compliance solutions, today announced Protective Life, has joined a growing list of Annuity Switchboard partners. Annuity Switchboard, a Beacon Annuity Solutions service, offers streamlined pre-sale and compliance-driven solutions for carriers and their distribution partners — broker/dealers, banks, brokerage general agencies, independent broker/dealers and other firms — through a secure, centralized and automated infrastructure. This infrastructure enables insurance carriers to communicate its up to the minute annuity rate and product information at key points throughout the annuity purchase cycle.
Annuity Switchboard’s unique approach to automating the maintenance and distribution of annuity rate and product information ensures that an annuity provider’s distribution partners have access to 100% carrier certified information to support their sales and compliance efforts.
“For those financial professionals who recognize the critical role annuities can play in providing clients with protected lifetime income, the next step becomes ensuring their compliance and suitability decisions are being made with the most accurate product information available,” said Jeremy Alexander, CEO, Beacon Annuity Solutions. “We are so pleased to welcome Protective to the Annuity Switchboard, which will help their distribution partners focus on serving clients while our platforms handle delivering the reliable annuity data they need.”
“Protective has a long history of providing dependable annuity products that help solve a variety of planning needs,” said Jim Wagner, Chief Distribution Officer of the Retirement Division at Protective, “We value the importance of the advisor experience and are excited to partner with Beacon Annuity Solutions to have our competitive products on the Annuity Switchboard platform for our distribution partners and their clients.”
In addition to supporting annuity sales and distribution, Annuity Switchboard provides numerous benefits to carriers. The easy-to-use interface allows the provider to effectively manage and approve all its annuity offerings for each distributor down to the state level. Over time, carriers experience less NIGOs (applications deemed Not in Good Order) and breakage, resulting in reduced acquisition costs.
About Protective Life
Protective Life Corporation (Protective) provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. Protective traces its roots to its flagship company, Protective Life Insurance Company – founded in 1907. Throughout its more than 110-year history, Protective’s growth and success can be largely attributed to its ongoing commitment to serving people and doing the right thing – for its employees, distributors, and most importantly, its customers. Protective’s home office is located in Birmingham, Alabama, and its 3,000+ employees are located in offices across the United States. As of September 30, 2020, Protective had assets of approximately $125 billion. Protective Life Corporation is a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. For more information about Protective, please visit www.Protective.com.
About Beacon Annuity Solutions
As a recognized leader in quality annuity data and research tools for the past 22 years, Beacon Annuity Solutions provides over 250,000 industry professionals with the market intelligence needed to minimize compliance risk, support monitor and maximize sales, conduct product research, and support product development and pricing efforts. Our comprehensive and unsurpassed data warehouse maintains quality up-to-date information for thousands of annuity contracts including fixed, fixed indexed, variable and indexed variable products. Along with our extensive sales data, subscribers are able to keep a finger on the pulse of the annuity industry, allowing for the identification of trends and opportunities.
Additional information about Beacon Annuity Solutions can be found at annuityswitchboard.com.
SOURCE Beacon Annuity Solutions