Latest news with #ProsperIUL
Yahoo
11-04-2025
- Business
- Yahoo
Amplify and EMC launch indexed universal life product
Digital insurer Amplify Life Insurance, in partnership with EMC Life, has introduced Prosper IUL, an indexed universal life (IUL) insurance product tailored for digital-first consumers. Prosper aims to streamline the process of obtaining permanent life insurance, enabling customers to apply, qualify and activate their policies. The product features a digital onboarding system that allows for instant acceptance decisions for qualifying applicants. This process is facilitated through an automated platform, easing the experience for both consumers and agents. Prosper IUL is the inaugural offering in Amplify's proprietary suite of products developed to meet varied client preferences and use cases. The solution aims to enhance accessibility to permanent life insurance products among the 'mass-affluent' demographic. EMC Life EVP – chief growth strategy and innovation officer Paul Rivard said: "Through our partnership with Amplify, a digital life insurance agency, we are offering a groundbreaking product and superior experience for customers. This collaboration supports our mission to improve lives. Together, we have raised industry standards and created a solution that truly impacts people. We are excited to see the Prosper product fulfil consumer needs and our partnership grow." Amplify chief operating and strategy officer Lu Ma stated: "We are thrilled to launch Prosper, in partnership with EMC Life. It expands our platform and product offerings, and enables us to better serve customers seeking long-term financial protection while setting the foundation for delivering ongoing value to them and their families." Based in the San Francisco Bay Area and launched in 2020, Amplify is available to consumers in all 50 US states. "Amplify and EMC launch indexed universal life product " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Associated Press
09-04-2025
- Business
- Associated Press
Amplify Life Insurance teams up with EMC Life to unveil Prosper IUL, a permanent life insurance product and platform designed for digital-first consumers and agents
SAN FRANCISCO, April 9, 2025 /PRNewswire/ -- Amplify Life Insurance, a leading digital platform revolutionizing wealth-building through permanent life insurance, and EMC Life, a provider of life insurance, have announced the launch of Prosper IUL ('Prosper'), an Indexed Universal Life (IUL) product designed to meet the needs of today's digital-first consumers. Prosper reimagines how permanent life insurance is purchased where consumers can apply, qualify, and activate their IUL policy in as little as ten minutes. Through Prosper's end-to-end digital onboarding system, qualifying applicants receive an instant acceptance decision. The entire process takes place within a single, fully automated, consumer- and agent-friendly platform. By simplifying and modernizing the purchasing experience, Prosper ensures that everyday consumers can access a wealth building life insurance vehicle that's often used by the high-net-worth segments and large institutions. Amplify's mission is to help modern, digital-first customers address gaps in their financial planning, protect their families, and build multi-generational wealth. Delivered through a streamlined and engaging experience, Amplify's platform brings permanent life products to the younger mass-affluent market. By adding Prosper to its platform, Amplify is able to accelerate this mission by offering consumers options tailored to their preference—whether individuals choose to build their own plan or work with a licensed agent. This platform expansion also enables Amplify to provide ongoing value at key moments throughout a policyholder's lifetime. Prosper is the first IUL of Amplify's proprietary suite of products specifically designed to address diverse customer needs and use cases. 'We're thrilled to launch Prosper, in partnership with EMC Life. It expands our platform and product offerings, and enables us to better serve customers seeking long-term financial protection while setting the foundation for delivering ongoing value to them and their families,' said Lu Ma, Chief Operating and Strategy Officer for Amplify. 'Through our partnership with Amplify, a digital life insurance agency, we're offering a groundbreaking product and superior experience for customers,' said Paul Rivard, EVP – Chief Growth Strategy and Innovation Officer for EMC Life. 'This collaboration supports our mission to improve lives. Together, we've raised industry standards and created a solution that truly impacts people. We're excited to see the Prosper product fulfill consumer needs and our partnership grow.' This launch represents more than just a new product, it's a strategic alignment between Amplify and EMC Life to drive innovation. This partnership underscores a commitment to delivering next-generation financial products that empower individuals to build wealth and secure their financial future through digital and hassle-free experiences. The collaboration between these two companies reflects a shared goal: to simplify purchase journeys, modernize customer experiences, and deliver insurance solutions that create real value for today's consumers. About Amplify Life Insurance Amplify is the first digital permanent life insurance platform offering customers direct access to products where you access tax-efficient investment returns and obtain lifelong protection. It's founded by serial entrepreneurs with industry and technology expertise looking to modernize the $1.1T permanent life insurance industry. Amplify provides an educational journey, product recommendation and quoting, and real-time pre-underwriting to help customers learn about plans and customize a policy for their needs. Launched in 2020, Amplify aims to help customers achieve health and financial wellness. Based in the San Francisco Bay Area, Amplify is open to all 50 states and has served thousands of customers. About EMC Life Based in Des Moines, Iowa, EMC Life is an affiliate of EMC Insurance. EMC Life offers quality life insurance products for the individual and workplace markets through independent agents and distribution partners.
