Samsung Enters Partnership to Help Close the Middle Market Protection Gap

RIDGEFIELD PARK, N.J.--(BUSINESS WIRE)--Samsung Electronics Ltd. has entered into a strategic partnership with iptiQ Americas (iptiQ) in order to support the insurer's goal to close the $26 trillion life and health insurance protection gap, which currently impacts more than 61% of Americans – primarily the middle market.*

The key mission of this partnership is to help consumers live healthier lives. Samsung is testing solutions to better inform consumers, improve healthy behaviors, and potentially identify and prevent serious health conditions, such as heart disease. “Bringing our health and wellness solutions to iptiQ’s insurance solutions will be a catalyst for enhancing the quality of life for their policyholders,” said Taher Behbehani, Head of Mobile B2B Division, Samsung Electronics America.

“We're thrilled to be partnering with Samsung. Our collaboration represents our common mission to close the protection gap by making insurance more accessible and affordable, and encourages consumers to take up a healthy lifestyle,” said Phil Walker, CEO iptiQ Americas.

Through the partnership, Samsung and iptiQ are looking at ways to improve the relationship between insurers and consumers. By switching from a transactional to a more collaborative relationship, both parties can become equally invested in enabling active, healthy lifestyles. Together, this will help millions of Middle Market consumers have better access to life and health insurance—a timely message aimed at educating Americans about the importance of life insurance during Life Insurance Awareness Month.

“Industry forecasts indicate that the insurance protection gap will widen in the coming years if current insurance market purchase trends continue. Insurance plays an important role in protecting people against hardship, and – together with Samsung – we are exploring different ways to help close the protection gap,” said Niels Keuker, Chief Marketing and Sales Officer of iptiQ Americas.

*Swiss Re Institute, September 2018.

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions. For the latest news, please visit the Samsung Newsroom at http://news.samsung.com.

About iptiQ by Swiss Re

The Swiss Re Group is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk – from natural catastrophes to climate change, from ageing populations to cyber crime. The Swiss Re Group is organised into three Business Units, each with a distinct strategy and set of objectives contributing to the Group’s overall mission.


Contacts

Elizabeth Philbin
Allison & Partners for
Samsung Electronics America
646-428-0626
Elizabeth.Philbin@allisonpr.com