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UPDATE – Abacus Life (ABL) Officially Launches Technology Sub-Division – ABL Tech

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Abacus Life, Inc. (NASDAQ: ABL) announces the official expansion of ABL Tech, its technology division, redefining the technological landscape within the pension fund and financial services industry. ABL Tech offers innovative solutions in mortality verification, valuation services, an enhanced life settlement marketplace, and blockchain technology.
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The expansion of ABL Tech represents a significant development in the financial services and life settlement industries. By integrating advanced technologies such as AI, blockchain and comprehensive data analytics, ABL Tech is positioning itself to offer enhanced efficiency and security in the management of life insurance policies. This move is likely to attract attention from institutional investors seeking innovative solutions for mortality verification and valuation services.

From a market perspective, the introduction of the Abacus Marketplace could increase market liquidity and transparency, potentially leading to a more vibrant life settlement market. The use of blockchain technology in this space is particularly noteworthy, as it promises to streamline transactions, reduce fraud and cut operational costs by eliminating intermediaries. This could result in increased profitability and a competitive advantage for Abacus Life in the long run.

Abacus Life's strategic expansion into technology with ABL Tech is poised to have financial implications for the company and its investors. The transition from LMA Technologies to ABL Tech, with its focus on AI and blockchain, could signal a move towards higher-margin services. As the life settlement industry relies heavily on accurate life expectancy calculations and efficient policy management, ABL Tech's services could enhance Abacus Life's value proposition to its clients.

Investors should monitor the adoption rate of ABL Tech's offerings and the impact on Abacus Life's financial performance. Increased adoption could lead to revenue growth and improved operational efficiency, while the costs associated with technology development and implementation will need to be carefully managed to ensure positive returns on investment.

The technological advancements that ABL Tech is introducing, such as AI-driven mortality verification and blockchain-based security measures, are at the cutting edge of what is currently being implemented in the life insurance and financial services sectors. The use of AI for fraud prevention and participant location is a step towards automating processes that are traditionally labor-intensive and prone to errors. Furthermore, blockchain's role in enhancing security and efficiency could be a game-changer by providing immutable records and reducing the need for extensive paperwork.

However, the adoption of such technologies is not without challenges. It requires significant investment in infrastructure and talent, as well as a cultural shift within organizations to embrace digital transformation. The success of ABL Tech will depend on its ability to seamlessly integrate these technologies into existing systems and demonstrate tangible benefits to its clients.

ORLANDO, Fla., Feb. 27, 2024 (GLOBE NEWSWIRE) -- Abacus Life, Inc. (NASDAQ: ABL) (“Abacus” or the “Company”), a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, is proud to announce the official expansion of ABL Tech, its technology division.

This strategic move also signals a rebranding and evolution from the well-respected LMA Technologies. For years, LMA Technologies has been at the forefront of serving the life insurance sector, offering institutional investors comprehensive solutions, including mortality verification, valuation services, and critical lifespan data insights. ABL Tech is set to build on this legacy, redefining the technological landscape within the pension fund and financial services industry with a suite of tech-driven solutions.

“I am proud of the development and growth of our technology offerings. We have built a strong in-house development team and we are shaping the direction of new technology in our industry,” stated Jay Jackson, Chief Executive Officer. “With the multiple solutions we offer, I am confident in our ability to expand this market.”

A New Era of Data Technology

With the launch of ABL Tech, the Company is transcending traditional boundaries to introduce a spectrum of innovative services:

  • Mortality Verification: Utilizing AI and advanced algorithms for efficient death verification, participant location and fraud prevention, aiding pension funds in protecting assets through ABL Tech’s platforms.
  • Valuation Services: Leveraging AI and real-time data for strategic wealth distribution, crucial for insurers and wealth managers.
  • Abacus Marketplace: A multi-platform portal enhancing life settlement sector communication and transparency, simplifying access and processes for clients and advisors.
  • Blockchain Technology: Partnering with BlockCerts to revolutionize the industry with the Abacus Blockchain, cutting out paperwork and intermediaries for improved security and efficiency.

Vincent Pellegrino, Vice President of ABL Tech, stated, “I am thrilled to be part of this Abacus team and we are pioneering transformative change in pension risk management. Our mission at ABL Tech is to secure futures and simplify pensions through our innovative data solutions and cutting-edge technology.”

Building on a Legacy of Expertise and Innovation

ABL Tech will benefit from Abacus Life’s extensive experience in the financial services and life settlement industries in its commitment to innovation, client-focused solutions and data security.

Discover the Future with ABL Tech

To learn more about our transformative solutions and how we are setting new standards in the pension management services industry, visit us at www.abltech.com.

ABL Tech Contact Information:

Vincent Pellegrino
Vice President - ABL Tech
vinnie@abltech.com

About Abacus
Abacus is a leading vertically integrated alternative asset manager and market maker, specializing in longevity and actuarial technology. The company is democratizing the life insurance space through groundbreaking new channels: ABL Tech, ABL Wealth, and ABL Longevity Growth and Income Funds. Since 2004, Abacus has purchased life insurance policies from consumers seeking liquidity and has actively managed those policies over time (via trading, holding, and/or servicing). With over $5BN in face value of policies purchased, Abacus has helped thousands of clients maximize the value of life insurance. Abacus Life is the only public life settlement company, trading on the Nasdaq Exchange under the ticker symbol ABL.

Over the past 20 years, the company has built an institutionalized origination and portfolio management process that is supported by a 100+ person team, long-term relationships with 78 institutional partners and 30,000 financial advisors, and the ability to operate in 49 states. The Company complies with HIPAA and privacy laws to maintain and protect confidentiality of financial, health, and medical information. Abacus is also proud to be a BBB Accredited Business with an A+ rating.

www.abacuslife.com

Contact:
Abacus Life Investor Relations
investors@abacuslife.com

Abacus Life Public Relations
press@abacuslife.com


The ticker symbol for Abacus Life, Inc. is ABL.

The expansion of ABL Tech signifies a strategic move towards redefining the technological landscape within the pension fund and financial services industry.

ABL Tech offers innovative solutions in mortality verification, valuation services, an enhanced life settlement marketplace, and blockchain technology.

Jay Jackson is the Chief Executive Officer of Abacus Life, Inc.

The mission of ABL Tech is to secure futures and simplify pensions through innovative data solutions and cutting-edge technology.
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