Innovative Annuity Solutions: Zinnia and USAA's Partnership

Zinnia, a leader in technology for the life and annuity insurance sector, is empowering insurers to swiftly introduce new products to meet the rising demand for annuities. Highlighting this trend, USAA has entered a renewed growth agreement with Zinnia to leverage their platform for launching innovative annuity products. This collaboration is part of USAA's strategy to enhance and modernize its annuity offerings.

Industry trends show a surge in interest for annuities, prompting carriers to invest in technology that expedites product development and automation. Zinnia's platform reportedly enables insurers to launch new annuity products within three months, boasting over 95% efficiency in automated processing and facilitating same-day issuance. This platform also supports digital servicing throughout the annuity lifecycle, allowing carriers to manage transactions through real-time, connected workflows seamlessly.

An Eldridge company, Zinnia, offers technological solutions that streamline operations for life and annuity carriers. It aids distributors, supports advisors, and assists consumers in financial and retirement planning. Backed by KKR and Vista Credit Partners, Zinnia drives innovation in the insurance sector. George Esposito, CEO of Zinnia, commented, "The carriers leading this market invest in product innovation and digital-first infrastructure today. USAA exemplifies that vision, and we’re proud to be their technology partner."

Mary Stork, SVP, and GM of retirement solutions at USAA Life Insurance Company, expressed, "Partnering with Zinnia provides the technological innovation we need to create the next generation of annuity products and capabilities for our members. We’re excited about our developments together."