NEWARK, N.J., Dec. 6, 2016 — Prudential Group Insurance and Texas-based Institution Solutions have teamed up to provide group insurance benefits to more than five million credit union members across the country. Prudential Group Insurance is a business of Prudential Financial, Inc. (NYSE: PRU).
Prudential is offering Accidental Death and Dismemberment Insurance to credit unions through ISI and delivered by Alloy, who operates on the behalf of the institution to deliver benefits to their members. The credit unions participating range in size from small organizations to those with more than 700,000 members, including two of the largest credit unions in the United States.
“We’re proud to offer affordable AD&D Insurance to these credit unions so their members are able to better protect their families’ financial futures,” said Kevin Morgan, VP, Association & Cross Business Initiatives, Prudential Group Insurance. “Unexpected loss can be devastating for families and we’re grateful for Institution Solutions’ confidence in our ability to serve the unique needs of their clients by offering services that strengthen members’ overall financial health.”
Added Paul Clampitt, chairman and founder of ISI and ALLOY, “Giving Credit Unions the ability to provide accidental death benefits, along with other insurance products, provides an important, complementary service tied to the traditional credit union investment and loan model. Prudential has become a valuable partner able to provide relevant services to our clients as they look for new ways to care for their members’ well-being.”
About Institution Solutions & ALLOY
Founded in 1996, ISI is becoming one of the fastest growing insurance administrators in the financial institution industry. Providing personalized product development, custom marketing strategies, innovative technology solutions and unparalleled customer care and support. ISI takes pride in its ability to increase member loyalty and generate fee income for its clients.
ALLOY was formed under ISI in 2015 to deliver an unprecedented insurance model, offering an independent insurance agency custom tailored to the Credit Union’s needs and capabilities. ALLOY leverages advanced technology, competitive products, industry know-how and a dynamic agency team to deliver the right product at the right time and price to Credit Union members.
About Prudential Group Insurance
Prudential Group Insurance manufactures and distributes a full range of group life, long-term and short-term disability and corporate and trust-owned life insurance in the U.S. to institutional customers primarily for use in connection with employee and membership benefit plans. The business also sells critical illness, accident, accidental death and dismemberment and other ancillary coverages and provides plan administrative services in connection with its insurance coverages. Group Insurance coverages strive to facilitate protection from risks that are difficult to predict, thus fostering overall financial wellness for employees and their families.
About Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1 trillion of assets under management as of September 30, 2016, has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.news.prudential.com.
© 2016 Prudential Financial, Inc., and its related entities. Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
Group coverages issued by The Prudential Insurance Company of America, Newark, NJ.
06 December 2016
Prudential Group Insurance, Institution Solutions' ALLOY bring new insurance benefits to credit unions nationwide
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