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Fixed indexed life insurance is the fastest growing segment
of the U.S. life insurance
market, and Aviva USA
is out in front of the growth.
In fact, the insurer recently was awarded a patent from the
United States Patent and Trademark Office for “Maximization of a Hedged
Investment Budget for an Index-Linked Insurance Product.”
The patent was awarded for Aviva’s risk management processes
related to the minimum guarantees on its indexed universal life insurance products.
These proprietary processes allow the company to offer customers indexed
universal life insurance products with minimum interest rate guarantees that
have greater benefits at lower costs.
“The granting of this patent underscores Aviva’s commitment
to innovation in the area of product development,” said Thomas C. Godlasky, CEO
of Aviva North America. “It is truly a testament to the outstanding work being
done by Aviva’s product development team.”
Brian J. Clark, chief strategy officer of Aviva USA, said the
patent was a result of Aviva’s discovery of. “a better way to manage risk and
lower the cost related to the minimum interest rate guarantees on indexed
universal life products.” The result, he says, is much more attractive products
for the company’s clients.
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