Optifino & Covr Merge to Create Digital BGA 3.0, Revolutionizing High-Net-Worth Life Insurance
Optifino and Covr Financial Technologies have merged, creating Digital BGA 3.0. David Kleinhandler, Optifino's co-founder and CEO, will lead the new entity. Covr's CEO, Michael Kalen, anticipates expanded potential for their platform with the addition of sophisticated insurance solutions for ultra-high-net-worth clients.
The merger integrates Covr's compliance and operational infrastructure with Optifino's AI-powered case design and analytics platform. Covr brings distribution networks, agent interfaces, and compliance systems, while Optifino contributes AI-driven visualization and swift case design technology. Both entities will maintain their original branding and communication channels.
The aim is to refine advisory services for mass-affluent and high-net-worth market segments. Advisors can expect enhanced analytical tools and solutions, especially for serving ultra-high-net-worth individuals. Following the deal, Covr will operate as a fully owned subsidiary of Optifino.
Kleinhandler sees this merger as the beginning of Digital BGA 3.0, marking the next chapter in life insurance distribution. The combined expertise and resources of Optifino and Covr promise to revolutionize the industry's approach to serving high-net-worth clients.
