The insurance industry is one that has always been seen as traditional, slow-moving, and sometimes resistant to change. However, with the rapid advancements of technology and data capabilities, there is a growing need for modernization and transformation within the industry. PACE, a Hong Kong-based startup, is one company that is looking to address this need by bringing technology and capital work together to inject new life into in-force portfolio management.
Revitalizing Legacy Life Insurance with Modern Data Capabilities
When it comes to mergers and acquisitions (M&A) transactions in the insurance industry, the technology and operational expense bases are often overlooked. PACE is dedicated to bringing modern data capabilities into run-off life insurance and turning long-tail challenges into opportunities. To achieve this, PACE’s data scientists bring data processing techniques that are common in other industries into legacy life insurance, where there are significant tech deficits. By doing so, they are able to unlock the potential of the vast amounts of data that insurance companies hold, which can lead to better insights and decision-making.
Creating Scalable Business Scenarios with Insurance Capital Market Specialists
PACE also leverages the insurance aggregator model to create scalable business scenarios to stimulate legacy data and technology transformation. Their insurance capital market specialists work with long-term investors and innovative capital partners to provide the opportunity to turn life’s long tail into stable returns with strong downside protection and low correlation to traditional financial market risks.
Assisting Insurance Companies to Unload Legacy Life Blocks
For insurance companies, PACE offers assistance to unload legacy life blocks managed on ancient technology, remove operational overheads, and release trapped capital. This can free up resources for insurance companies to focus on their core business while also modernizing their portfolio management.
Providing Innovative Capital with Strategic and Financial Upside
For innovative capital partners, PACE offers strategic and financial upside by partnering to inject new life into legacy insurance business. This can lead to attractive returns and long-term stable investments.
PACE is a startup that is bringing much-needed modernization and transformation to the insurance industry, specifically in the area of in-force portfolio management. By combining technology and capital, PACE is able to inject new life into legacy life insurance, turning long-tail challenges into opportunities. With their team of data scientists and insurance capital market specialists, PACE is well-positioned to revolutionize the insurance industry and provide long-term stable investments for their partners.
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