ORLANDO, Fla., Feb. 27, 2024 (GLOBE NEWSWIRE) — Abacus Life, Inc. (NASDAQ: ABL) (“Abacus” or the “Company”), a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, is proud to announce the official expansion of ABL Tech, its technology division.
This strategic move also signals a rebranding and evolution from the well-respected LMA Technologies. For years, LMA Technologies has been at the forefront of serving the life insurance sector, offering institutional investors comprehensive solutions, including mortality verification, valuation services, and critical lifespan data insights. ABL Tech is set to build on this legacy, redefining the technological landscape within the pension fund and financial services industry with a suite of tech-driven solutions.
“I am proud of the development and growth of our technology offerings. We have built a strong in-house development team and we are shaping the direction of new technology in our industry,” stated Jay Jackson, Chief Executive Officer. “With the multiple solutions we offer, I am confident in our ability to expand this market.”
A New Era of Data Technology
With the launch of ABL Tech, the Company is transcending traditional boundaries to introduce a spectrum of innovative services:
- Mortality Verification: Utilizing AI and advanced algorithms for efficient death verification, participant location and fraud prevention, aiding pension funds in protecting assets through ABL Tech’s platforms.
- Valuation Services: Leveraging AI and real-time data for strategic wealth distribution, crucial for insurers and wealth managers.
- Abacus Marketplace: A multi-platform portal enhancing life settlement sector communication and transparency, simplifying access and processes for clients and advisors.
- Blockchain Technology: Partnering with BlockCerts to revolutionize the industry with the Abacus Blockchain, cutting out paperwork and intermediaries for improved security and efficiency.
Vincent Pellegrino, Vice President of ABL Tech, stated, “I am thrilled to be part of this Abacus team and we are pioneering transformative change in pension risk management. Our mission at ABL Tech is to secure futures and simplify pensions through our innovative data solutions and cutting-edge technology.”
Building on a Legacy of Expertise and Innovation
ABL Tech will benefit from Abacus Life’s extensive experience in the financial services and life settlement industries in its commitment to innovation, client-focused solutions and data security.
Discover the Future with ABL Tech
To learn more about our transformative solutions and how we are setting new standards in the pension management services industry, visit us at www.abltech.com.
ABL Tech Contact Information:
Vincent Pellegrino
Vice President – ABL Tech
vinnie@abltech.com
About Abacus
Abacus is a leading vertically integrated alternative asset manager and market maker, specializing in longevity and actuarial technology. The company is democratizing the life insurance space through groundbreaking new channels: ABL Tech, ABL Wealth, and ABL Longevity Growth and Income Funds. Since 2004, Abacus has purchased life insurance policies from consumers seeking liquidity and has actively managed those policies over time (via trading, holding, and/or servicing). With over $5BN in face value of policies purchased, Abacus has helped thousands of clients maximize the value of life insurance. Abacus Life is the only public life settlement company, trading on the Nasdaq Exchange under the ticker symbol ABL.
Over the past 20 years, the company has built an institutionalized origination and portfolio management process that is supported by a 100+ person team, long-term relationships with 78 institutional partners and 30,000 financial advisors, and the ability to operate in 49 states. The Company complies with HIPAA and privacy laws to maintain and protect confidentiality of financial, health, and medical information. Abacus is also proud to be a BBB Accredited Business with an A+ rating.
www.abacuslife.com
Contact:
Abacus Life Investor Relations
investors@abacuslife.com
Abacus Life Public Relations
press@abacuslife.com
