Luma extends Hexure insurance partnership

Luma Financial Technologies has expanded its collaboration with Hexure, integrating Firelight life insurance capabilities into its platform.

This development enables financial advisors and agents to manage life insurance and annuity products with digital tools on an all-in-one platform.

Firelight is a digital sales platform that enables carriers and distributors to offer customer-focused sales experiences.

The platform also enhances market entry speed, ensures accurate sales processes and helps maintain compliance with regulatory standards for life insurance and annuities.

Incorporation of Firelight is said to boost transparency and result in more efficient workflows for Luma, facilitating learning, comparing and managing insurance and annuity products.

The integration is also claimed to help advisors and agents offer customised solutions, addressing each client’s specific requirements.

In 2021, Luma selected Firelight to launch its annuities solution, Luma Annuities, into the market.

Hexure president Kevin Pohmer said: “We are happy to leverage our technology capabilities and carrier network to expand our four-year partnership with Luma to include life insurance, offering streamlined access to a diverse range of products from multiple carriers within a single, centralised solution.

“This collaboration embeds FireLight annuity and life e-application and illustration capabilities into Luma’s platform, delivering an unparalleled, cohesive sales experience that empowers professionals to seamlessly sell multiple products with efficiency, confidence and ease.”

Luma insurance products managing director Jay Charles said: “Building on our successful partnership with Hexure exemplifies our commitment to simplifying complex financial products. By integrating life insurance capabilities into our platform, we provide advisors with comprehensive solutions to meet their clients’ evolving needs.”

Earlier this month, structured products and insurance solutions specialist Luma ventured into the life insurance sector.

The company’s platform is reportedly the first to provide a comprehensive solution that integrates life insurance and annuities.

“Luma extends Hexure insurance partnership ” was originally created and published by Life Insurance International, a GlobalData owned brand.

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