GWG Holdings Announces Insurance Technology Expert Tom Nodine to Lead Insurtech Division
June 29 2017 - 4:05PM
GWG Holdings, Inc. (Nasdaq:GWGH), the parent company of GWG
Life, a financial services company committed to transforming the
life insurance industry through disruptive and innovative products
and services, announced that insurance technology expert Tom Nodine
has joined as its Executive Vice President to lead the development
and commercialization of its M-Panel technology, the groundbreaking
application of epigenetic science to advanced underwriting
techniques for the global life insurance industry.
Nodine, an acknowledged expert on technology in
the insurance business, has consulted with GWG Life since October
2016 to help assess the potential of its epigenetic life expectancy
technology and how it can be commercialized in life insurance and
related industries. GWG Life holds the exclusive license to the
“DNA methylation-based predictor of mortality technology” developed
by Dr. Steve Horvath at UCLA, and is the first company to apply
epigenetic technology in the life insurance industry.
“Since Tom began working with us, he has helped
us to translate Dr. Horvath’s technology into a commercialized
actuarial underwriting testing protocol, as well as focus our
strategy on developing a business around epigenetic testing and
life insurance underwriting,” said GWG Life CEO Jon Sabes. “The
ability to attract a top industry professional like Tom Nodine to
lead our insurance technology group speaks to the opportunity we
believe we have with the epigenetic M-Panel technology we are
building. The team we have now assembled with Tom and our Chief
Science Officer, Dr. Brian Chen, puts us at the forefront of an
emerging technology whose applications were not even imagined a
year ago.”
Under Nodine’s guidance, the company has
identified opportunities it believes have the potential to be game
changers for the life insurance industry. Among several business
opportunities the company’s proprietary M-Panel epigenetic analyses
presents, Nodine’s team of researchers has identified its ability
to better estimate longevity and other key factors involved in
underwriting life insurance. Replacing the complex process of
medical underwriting with M-Panel’s epigenetic analysis could save
weeks of time and reduce the cost to underwrite millions of life
insurance applicants in the domestic and global life insurance
markets.
“Bringing proven epigenetics science to the life
insurance industry is the most exciting opportunity I have seen in
my twenty-year career,” Nodine said. “I believe the discoveries
that have been made so far are staggering and there will be more to
come.”
Nodine was Senior Vice President for Technology
Strategy and Innovation for Allstate Insurance and led insurance
strategy practices for KPMG and Booz & Company. As a
consultant, he has helped companies all over the world adapt to the
rapid changes technology has had on their industries.
About GWG Holdings, Inc.
GWG Holdings, Inc. (Nasdaq:GWGH) the parent
company of GWG Life, is a financial services company committed to
transforming the life insurance industry through disruptive and
innovative products and services. The company has developed a new
suite of options for the life insurance secondary market called
LifeCare Xchange (LCX). This new capability provides seniors with
the exchange value of their life insurance policies they can apply
to long-term care and other post-retirement needs. GWG Life seeks
to further transform the industry by applying proprietary M-Panel
epigenetic technology to disrupt traditional life insurance
underwriting practices. Since 2006 GWG Life has provided seniors
over $418 million in exchange value for their life insurance and,
as of March 31, 2017, owned a portfolio of over $1.4 billion in
face value of policy benefits.
For more information about GWG Holdings, Inc.
email info@gwglife.com or visit www.gwgh.com.
Media contacts:
Dan Callahan
GWG Holdings, Inc.
(612) 746-1935
dcallahan@gwglife.com
Lyndsey Newnam
G&S Business Communications
(919) 870-5718, x3177
lnewnam@gscommunications.com
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