Insurtech Pendella Adds PEO AdvanStaff HR As Partner
Pendella Technologies, a fast-growing technology company on a mission to take the bias out of life insurance, announced a partnership with AdvanStaff HR, a professional employer organization (PEO) currently serving 400 small and medium-sized businesses. Through Pendella’s AI-powered, white-labeled technology, AdvanStaff HR clients will be able to expand their employee offerings to include individual life insurance. Employees of AdvanStaff HR clients can now choose from a variety of affordable individual life and disability insurance options available from top-rated national insurance providers. Employees can purchase coverage online in minutes, without the need for a medical exam.
“AdvanStaff HR has helped companies run their businesses efficiently and successfully for nearly 30 years. We are experts in combining personal service and technology to support our clients, their employees, and the business’ bottom line,” said Matt Richards, President and COO. “By partnering with Pendella, we are furthering our commitment to providing the best products and tools available.”
According to 2021 data from financial research firm LIMRA, more than 8 in 10 workers in the U.S. would like their employer to offer life insurance coverage.
“We are excited to partner with AdvanStaff HR and bring the important financial protection that life insurance offers to the thousands of employees they support,” said Bob Gaydos, Pendella CEO and founder. “Our revolutionary technology not only simplifies the life insurance process, but it creates a huge opportunity for PEO’s to enhance their value to clients.”
Pendella is an Associate Member of NAPEO and has partnered with other SMB-focused PEOs over the past 12 months as part of its mission to close the life insurance protection gap. The startup recently completed a $5.2 million in Series Seed-2 funding with backing from prominent insurtech venture capital firms American Family Ventures and MassMutual Ventures. The funding round positions to Pendella continue its disruption of the life insurance market and support its planned growth.