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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
[email protected]
About Abacus
Abacus Life, Inc. (NASDAQ: ABL) is changing how people think about life insurance. As one of the nation’s top buyers of life insurance policies and a leader in longevity-based investing, Abacus helps policyholders unlock the value of their policies—providing over $5 billion in face value since 2004.
With the recent launch of ABL Tech, built on the foundation of LMA Technologies, Abacus is equipping institutional partners with next-gen tools for mortality tracking, policy valuation, and lifespan analytics.
Backed by a team of 100+ professionals, relationships with 78 institutions and 30,000 financial advisors, and a nationwide presence, Abacus brings together innovation, transparency, and deep industry knowledge to transform life insurance into a powerful financial tool. Receive your estimate using our Life Settlement Calculator for free today!
Contact:
Abacus Life Investor Relations
[email protected]
Abacus Life Public Relations
[email protected]
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