Transamerica Partners with Empathy to Enhance Life Insurance Services

Transamerica, based in Cedar Rapids, Iowa, has unveiled a suite of digital services powered by Empathy, a New York-based firm, to aid life insurance policyholders and their beneficiaries. These AI-driven services target complexities associated with bereavement, offering guidance in estate planning and dealing with post-loss challenges. Detailed offerings through Empathy’s LifeVault and Loss Support tools include funeral planning, account management, claims assistance, probate navigation, secure document storage, and access to live support.

Andrew DeMarco, Head of Life Solutions at Transamerica, highlighted their mission to ensure customers are prepared for future challenges. He emphasized the collaboration with Empathy, which strengthens the Concierge Planning Rider, offering crucial support at pivotal moments. Empathy's Co-Founder and CEO, Ron Gura, echoed this sentiment, acknowledging the shared mission with Transamerica to extend family support beyond mere claims processing.

This strategic partnership underscores a broader trend within the life insurance industry towards adopting digital solutions for legacy and planning management. As part of regulatory compliance requirements and risk management enhancements, Transamerica is also offering educational resources to financial professionals, ensuring effective client utilization of these innovative services. Collaborations with companies like Bestow further highlight Transamerica's commitment to integrating tech-enabled solutions within its financial protection strategy.