Providence, RI — Term-life giant Transamerica has just joined an innovative roster of top-tier insurance carriers in using tioTERM, a cutting-edge online platform for writing term life insurance. Transamerica’s competitive term portfolio will now be available for fast, efficient quoting and application processing by insurance producers and financial advisors across the country.
With an “A+, Superior” rating from A.M. Best, Transamerica is a well-known and well-respected brand—among both producers and clients. As an organization, they are committed to the highest standards of customer service and technology, which make the tioTERM partnership a great fit.
“Transamerica is excited to partner with the tioTERM team,” said James Hahn, Transamerica’s VP of Sales. “The innovative and simple solution that tioTERM provides will give us an opportunity to protect millions more Americans that have no insurance or are under-insured.”
tioTERM was developed in early 2000 and launched in 2007, as a breakthrough productivity tool for insurance producers and financial advisors who work independently or within larger organizations such as broker dealers or banks. Unique to the industry, tioTERM was conceived by long-time insurance experts, not just technologists. As the developers of tioTERM, BSMG drew upon their 40-year industry track record to ensure that the platform addresses the real needs of its users and their clients.
tioTERM helps increase profitability by significantly reducing the time and effort of processing a term life application. Sophisticated e-signature and underwriting-evaluator technologies have made tioTERM the only truly paperless, multi-carrier, web-based system of its kind.
In releasing news of the new partnership, tioTERM’s SVP Andrew Hamill recognized the “natural fit” of two forward-thinking organizations: “tioTERM is looking to add only the best carriers in the industry and Transamerica is a strong addition to our existing lineup. We are excited to offer our customers and their clients even more innovation and variety in the products that are offered through our system.”
Transamerica also serves as a carrier for the full services of tioTERM’s parent company Brokers’ Service Marketing Group, a leading provider of life insurance, annuities, and long term care insurance to insurance professionals and financial service organizations.
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Transamerica Insurance & Investment Group – a marketing unit for Transamerica Life Insurance Company and its affiliates – offers an array of innovative financial services and products designed to help individuals, families and businesses build, protect and preserve their assets, including term life insurance, universal life insurance, variable universal life insurance and fixed annuities.
Transamerica Life Insurance Company is an AEGON company, a multinational insurance organization headquartered in The Hague, the Netherlands. The AEGON companies are the world’s leading life insurance and financial services organizations.
About tioTERM and BSMG
tioTERM is a division of Brokers’ Service Marketing Group, a leading brokerage general agency with a 40-year history. BSMG is headquartered in Providence, RI with offices in Virginia, Massachusetts, Connecticut.