Luma Financial Technologies Expands into Life Insurance, Offering the First Integrated Technology Platform Solution for Life Insurance and Annuities

Joseph Collins
Partner
River Communications
jcollins@riverinc.com

Luma Financial Technologies (“Luma”), a global leader in structured products and insurance solutions, is excited to announce its expansion into the life insurance sector. As the first platform to offer an end-to-end solution that integrates life insurance and annuities, Luma enables advisors to manage both products seamlessly through a single, comprehensive platform.

This innovative solution allows financial professionals to seamlessly manage life insurance and annuities, supporting comprehensive financial planning through a unified platform. With more than half of U.S. adults holding life insurance, Luma’s platform empowers advisors to keep their clients’ financial goals aligned throughout the entire investment lifecycle. This extension reinforces Luma’s core principles of transparency, efficiency, and intuitive design, enhancing every stage of the process, just as it has for annuities.

“We are excited to extend our proven technology to the life insurance market, providing financial professionals with the first truly comprehensive solution in the industry,” said Tim Bonacci, President and CEO of Luma Financial Technologies. “This expansion is a major milestone for Luma, further establishing our leadership in the alternative investments and insurance solutions while advancing our mission to deliver innovative digital solutions that meet the evolving needs of advisors and their clients.”

Luma’s platform will centralize essential life insurance functions, providing a comprehensive suite of resources including educational content, product quotes, illustrations and comparisons, seamless electronic order entry, and lifecycle to see a full book of life insurance business all in one place. By simplifying access to critical information, Luma empowers advisors to make better-informed decisions and deliver superior service, all while saving time through more streamlined processes.

“As demand grows for a unified approach to managing both annuities and life insurance, Luma is rising to the occasion,” said Jay Charles, Managing Director, of Insurance Products at Luma Financial Technologies. “Our technology, which has redefined annuity management, will now do the same for life insurance—empowering advisors to better serve their clients and enabling carriers to expand their reach.”

Luma’s expansion into life insurance demonstrates its commitment to delivering innovative, forward-thinking solutions for financial professionals. By offering an integrated platform, Luma is setting a new industry standard for managing life insurance and annuities together. Focused on simplifying complexity and enhancing advisor-client relationships, Luma continues to champion transparency, efficiency, and client-driven services.

For more information about Luma Financial Technologies, please visit https://lumafintech.com.

About Luma Financial Technologies

Founded in 2018, Luma Financial Technologies ("Luma") has pioneered a cutting-edge fintech software platform that has been adopted by broker/dealer firms, RIA offices, and private banks around the world. By using Luma, institutional and retail investors have a fully customizable, independent, buy-side technology platform that helps financial teams more efficiently learn about, research, purchase, and manage alternative investments as well as annuities.

Luma gives these users the ability to oversee the full, end-to-end process lifecycle by offering a suite of solutions. These include education resources and training materials; creation and pricing of custom structured products; electronic order entry; and post-trade management. By prioritizing transparency and ease of use, Luma is a multi-issuer, multi-wholesaler, and multi-product option that advisors can utilize to best meet their clients' specific portfolio needs.

Headquartered in Cincinnati, OH, Luma also has offices in New York, NY, Miami, FL, Zurich, Switzerland, and Lisbon, Portugal. For more information, please visit Luma’s website, or follow us on LinkedIn and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241114474981/en/