Specialty Life Insurance (SLi) announced Oct. 5 the launch of a new suite of simplified and guaranteed life insurance products developed in partnership with ivari.
The companies say that these new products have been created “for all Canadians including those who are hard-to-insure.”
"This is an exciting joint initiative for ivari, stated Doug Brooks, President and CEO of the insurer, in a statement. “We are expecting significant innovation in the future. Our partnership with SLi will support the development of innovative products designed to serve all Canadians and delivered utilizing technology that redefines the consumer experience.”
The new simplified products offer consumers from $1,000 up to $300,000 for ages 18 to 70 and up to $150,000 for ages 71 to 79. The application process for these products requires answering a few questions. Guaranteed coverage is available for up to $50,000 for individuals ages 40 to 79.
“Since 2010 we’ve met with thousands of Canadians and worked with several insurance companies, and we saw a huge need for a new generation of products,” said Alex Dudarev, CEO of the ISI Group of Companies. “So, in 2016 we created SLi to bring products to Canadians that are much easier to both understand and to purchase.”
Dudarev adds that these products can be sold using ISI’s proprietary iApplication mobile app. “Insurance advisors who take advantage of ISI’s iApplication, the latest technology from SLi, will be able to digitally manage their client appointments, provide quotes for SLi products, and complete a full application directly from their tablet or PC,” states the company.
ISI also recently announced the launch of iAgent, a lead referral platform that allows consumers to learn about insurance products and receive a visit from an advisor within a short timeframe.