Zinnia highlights annuity technology partnerships as market demand grows

Zinnia announced that it is working with life insurers to accelerate annuity product launches and modernize policy administration as carriers invest in technology to meet growing demand for annuities.

The life and annuity technology company said its platform enables carriers to launch new annuity products in as little as three months, supports straight-through processing rates of more than 95% for new business, and offers same-day policy issuance. The platform also provides digital servicing capabilities for post-issue annuity transactions.

USAA recently expanded its relationship with Zinnia, renewing its partnership and launching new annuity products on the platform as part of its retirement solutions strategy.

Zinnia, an Eldridge business backed by funds managed by KKR and Vista Credit Partners, provides technology infrastructure for life insurers, distributors, advisors, and consumers.

“The carriers leading this market are the ones investing in product innovation and digital-first infrastructure today. USAA is a great example of that vision, and we’re proud to be the technology partner helping them bring it to life.” – George Esposito, CEO of Zinnia.

Bottom Line: While Zinnia highlights its technology partnerships, one employee warns about the overuse of technology.