Amrita Financial, a life settlement company, and Finance Logix have signed an agreement to enhance the efficiency, transparency and value in life settlement transactions.
According to company, life settlements often involve a number of intermediaries and are lengthy and inefficient process. The life insurance policy owners work through financial planners, who in turn enlist a life settlement broker to solicit offers from institutional buyers. Due to the involved process, life settlements carry a high transactional cost of any asset class.
Under the new partnership, Amrita Financial will integrate its suite of analytical tools and electronic transactional platform into the Finance Logix financial planning software. After the integration, around 10,000 financial planners using Finance Logix will have real-time access to life settlement appraisals, analysis and a direct conduit to life settlement providers that purchase life insurance policies, the company said.
Kevin Mathis, VP of technology at Amrita Financial, said: “We chose to partner with Finance Logix due to their outstanding reputation for innovation, shared commitment to delivering critical information to advisors and leading position within the financial services software community.”