The new alliance will improve the future of long-term care planning through advanced AI technology.
Cornelius, NC – May 2, 2024 – Financial Independence Group, LLC (FIG), a leading financial services company, and Waterlily, a tech company that develops artificial intelligence (AI) software to predict future long-term care (LTC) events, have announced a new strategic partnership.
This alliance permits FIG to use Waterlily’s AI platform to model the return on investment of annuities, LTC insurance, life insurance riders, and hybrid insurance policies with a precision that wasn’t possible before. Following a recent partnership announcement with Prudential and over 100 smaller wealth advisory firms, FIG marks Waterlily’s second major enterprise relationship.
Waterlily’s AI is the first of its kind in the financial services industry, leveraging over 500 million data points to forecast and build a client’s care plan and determine their LTC costs. With such detailed care mapping, Waterlily can completely change how financial professionals handle conversations about LTC planning and how they introduce relevant products to those plans.
FIG’s adoption of this cutting-edge AI technology reinforces a commitment to equipping their agents with the best technology the evolving industry has to offer.
“I’ve been so impressed with how hardworking the FIG team is. They make it easy to work in lockstep so we can rapidly incorporate their teams’ ideas for new features to make our platform even more powerful for users; it’s a great partnership,” said Evan Ehrenberg, Waterlily co-founder and COO.
Waterlily’s hyper-personalized projections can predict a client’s likelihood of needing LTC, when their needs might begin, how those needs might progress over time, what care environments the client might likely choose to age in, and how many hours each member of their family could contribute to their care throughout their LTC progression.
This level of precision enables financial professionals to offer bespoke advice to a degree never before possible, building client trust and enabling a more personalized analysis of ancillary products in their financial plans.
“What we like about the software is that while it’s such a powerful analytical platform, it isn’t just a backend tool that an agent can use to prepare for a client call; it’s built to be client-facing and allow for a shared walkthrough of that client’s story, to help build an entire LTC plan start to finish,” said Alecia Barnette, FIG care planning senior vice president of sales.
FIG and Waterlily are working closely on this partnership and collaborating on the future functionality of advanced AI to improve financial planning and sales processes.
About Financial Independence Group, LLC
FIG is a financial services conglomerate and national leader in the independent marketing organization (IMO) and field marketing organization (FMO) industry. Privately held and independently owned, FIG’s fixed insurance solutions help the independent, licensed financial professional guide their retail investment clients to an optimal retirement plan. FIG has provided solutions for over 45 years, specializing in guaranteed income, asset protection, and multi-generational planning. Over 3,000 professionals across the U.S. access more than 70 top-rated carriers to design fixed index annuity, fixed annuity, life insurance, care planning, and disability income solutions to best fit the interests of their clients. For more information, visit FIGMarketing.com, or connect with FIG’s Care Planning Division.
About Waterlily
Waterlily, founded in 2021 in California, is a tech company that leverages AI to help personalize long-term care plans. Founder and CEO Lily Vittayarukskul entered college at age 14 and graduated from UC Berkeley with a bachelor’s degree in Genetics and Data Science. She led product and engineering at multiple startups before founding Waterlily. Waterlily’s Co-Founder and COO, Evan Ehrenberg, graduated at age 16 from UC Berkeley with his bachelor’s degree in Cognitive Science and Computational Modeling. He went on to pursue his Ph.D. at MIT in Computational Neuroscience where he used machine learning and computer vision modeling to advance computational neuroscience and AI research. For more information, visit JoinWaterlily.com.