{"id":3212,"date":"2021-04-14T09:15:45","date_gmt":"2021-04-14T13:15:45","guid":{"rendered":"https:\/\/www.cannex.com\/?p=3212"},"modified":"2021-04-14T09:13:15","modified_gmt":"2021-04-14T13:13:15","slug":"luma-selects-cannex-to-enhance-annuity-offering","status":"publish","type":"post","link":"https:\/\/www.cannex.com\/index.php\/2021\/04\/14\/luma-selects-cannex-to-enhance-annuity-offering\/","title":{"rendered":"Luma Selects CANNEX to Enhance Annuity Offering"},"content":{"rendered":"
\n

CANNEX Pricing and Analytic Features Provide Luma Users with Unmatched Annuity Transparency<\/em><\/strong><\/p>\n

______________________________________<\/p>\n<\/div>\n

CINCINNATI, OH \u2013 April 14, 2021:<\/strong> Luma Financial Technologies (\u201cLuma\u201d), an independent, multi-issuer structured products and annuities platform, announced today that they have selected CANNEX as their latest partner to facilitate the efficient and accurate exchange of pricing and analytics for annuity products on their platform.<\/p>\n

Backed by three of the world\u2019s largest banks, the Luma platform simplifies complex financial instruments such as structured products and annuities, as well as streamlines what has historically been a manual investment process. Luma\u2019s annuity solution aids financial professionals in learning, transacting, configuring, and managing annuities, which in turn provides the ability to offer their clients a wider range of income-generating solutions.<\/p>\n

\u201cWe\u2019re proud to provide our customers with an unmatched sales experience through the entire annuity lifecycle,\u201d said Jay Charles, Director of Annuities at Luma Financial Technologies. \u201cOur partnership with CANNEX enhances our platform\u2019s data and analytics features, so advisors can make the most informed recommendations to their clients when it comes to including annuity products in a properly balanced portfolio. Ultimately, our market-leading technology is revolutionizing the annuity industry and providing a powerful tool for advisors to utilize in meeting their clients\u2019 retirement needs.\u201d<\/p>\n

By partnering with CANNEX, Luma customers will receive product data and modeling support across all annuity types including fixed rate, fixed indexed, registered index-linked, and variable annuities. The CANNEX database and illustration engine will enable financial professionals using the Luma platform to research and select products as well as illustrate accumulation and income performance before continuing with the application process. CANNEX modeling capabilities will also enable advisors to test a variety of allocation options under different market scenarios for indexed and variable products.<\/p>\n

The Luma partnership is made possible with a new recent release of the CANNEX savings annuity platform. By working closely with over 30 carrier partners, CANNEX is able to provide a single normalized source of accurate data and illustrative results to third party applications and service providers who wish to improve the effectiveness and efficiency of sales and planning processes.<\/p>\n

\u201cWe are excited about the opportunity to support Luma\u2019s annuity solution,\u201d said Gary Baker, Chief Operating Officer at CANNEX Financial Exchanges. \u201cOur recent implementation will not only enable Luma to demystify annuities for more financial professionals, but also enable them to effectively and confidently use annuities and present them to their clients. Insurers strive to optimize value to the policyholder, which results in product differentiation. At the same time, financial professionals need to be able to identify the best solutions for their clients from a sea of options. As a result, products can be difficult for the average financial professional to understand and deploy for the client. The CANNEX platform helps bridge the gap between product complexity and the need for simplicity in the market.\u201d<\/p>\n

For more information on Luma Financial Technologies and their annuities solution, \u201cLuma Annuities,\u201d please visit https:\/\/lumafintech.com\/luma-annuities\/<\/a><\/p>\n

About Luma Financial Technologies<\/strong>
\nLuma Financial Technologies is the creator of Luma, a fully customizable, independent, buy-side platform that helps financial teams more efficiently learn, create, order, and manage market-linked investments such as structured products, structured annuities and more.<\/p>\n

Launched in 2011, Luma is one of the largest and longest-tenured structured product platforms in the U.S. market and is used by broker\/dealer firms, RIA offices and private banks to automate and optimize the full process cycle for offering and transacting in market-linked investments. This includes education and certification; creation and pricing of custom structures; order entry; and post-trade actions. Luma is multi-issuer, multi-wholesaler and multi-product, thus providing teams with an extensive breadth of market-linked investments to best meet clients\u2019 specific portfolio needs.<\/p>\n

Headquartered in Cincinnati, OH, Luma also has offices in New York, NY, and Zurich, Switzerland.<\/p>\n

About Cannex <\/strong>
\nCANNEX Financial Exchanges supports the exchange of data, pricing and research for savings and retirement products in North America. The firm provides financial institutions with the ability to evaluate and compare guarantees and hypothetical performance provided by retirement products. In the U.S., this includes the evaluation of annuities as well as consulting services supporting the optimization and allocation of retirement income portfolios. For more information on CANNEX Financial Exchanges visit www.cannex.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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