AIN Ventures aligns with Gerry Care, the first ‘virtual’ expert concierge for the future of senior living and long-term care
WESTLAKE VILLAGE, Calif. December 10, 2020 — Today, AIN VenturesSM has announced a strategic alignment with insurtech firm Gerry Care
“One of the challenges posed by the accelerating need for Long-Term Care in the United States is the need for high-quality resources that help seniors age gracefully by solving and coping with problems in their everyday lives. These services are not comprehensively provided in Long-Term Care Insurance benefits, nor are they adequately addressed through current private, government or nonprofit organizations. As a result, many seniors—particularly those in the middle market—look to their advisors for solutions to these challenges. Unfortunately, many advisors are simply not equipped to source or provide these solutions and ultimately turn to their distributor relationships for guidance and support in this area” said Martin Haile, AIN’s Chief Marketing Officer.
Gerry is the first personalized, data driven concierge for all aspects of long-term senior care. Gerry employs a network of qualified, experts, all of whom are licensed social workers and nurses called “Gerry Coaches”. Gerry Coaches understand the unique challenges presented by helping independent seniors before, during and after they need formal care. “Many of our clients initially use Gerry to solve problems that they don’t want to burden a loved one with… but the personalized interaction between them and our Coaches often evolve into trusted long term relationships” said Farron Blanc, Gerry’s Co-Founder and CEO. Gerry Coaches are dedicated to individual seniors and conduct standing weekly 1:1 private, virtual discussions to help solve and cope with their problems.
Gerry helps seniors thrive at home by assisting in four main categories:
- Daily Essentials (Examples may include evaluating and negotiating preferred pricing for grocery or prescriptions delivery)
- Tech Support (i.e. providing device support or setup for video chat)
- Health & Nutrition (i.e. providing personalized plans for in-home exercise or food plans)
- Financial Wellbeing (i.e. trusted coaching and advice on insurance coverage or estate planning)
Gerry Coaches can also assist with the needs of loved ones whom are often coordinating care.
Independent third party distributors that partner with Gerry can realize tremendous benefits as well. “Having previously worked in the life insurance industry, I recognize the vital role of independent third party distributors and want to help them stay positively engaged with orphaned policyholders while improving policy persistency with a complementary, non-competitive service like Gerry” said Blanc.
Distributors who partner with Gerry can create new revenue from second sale opportunities and find new lead generation opportunities that provide a distinct recruiting advantage as they seek to attract and retain new insurance agents.
For a distributor’s insurance and financial advisors serving clients in the middle market, Gerry is a tailored solution for seniors and their families as they grapple with the challenges that come with aging. Gerry Coaches continually address a senior’s evolving needs for financial services, creating potential “second sale” opportunities. This is a particularly helpful service for the advisor, who may otherwise be working “pro-bono” as they assist clients seeking services and is increasingly relevant as the use of Chronic Illness Accelerated Benefit Riders increases, given that most do not include any type of care coordination or similar services.
Gerry’s value chain extends all the way to the insurance company. Over time, a senior’s relationship with Gerry will demonstrate improvements to wellbeing that may translate to a longer and healthier life, improving overall policy persistency and mortality experience.
Financial Terms of AIN Ventures alignment with Gerry have not been disclosed. More information on how to connect with this platform will be made available soon.
More on Gerry
Gerry was started in late 2018 after one of their founders, Farron Blanc, went through the process of having to care for his father and find a proper skilled memory care facility for him. Gerry was created in response to Farron’s painful and confusing experience — aiming to help the 50 million Americans that are currently lost in senior care and need help.
Gerry is headquartered in New York City, and co-founded by serial fintech entrepreneurs Farron Blanc, and Ajay Rajani. And is backed by large institutional venture capital funds. You can find out learn more at www.meetgerry.com.
More on AIN and AIN VenturesSM
AIN is a national wholesale marketing organization representing more than 100 independently owned and operated wholesale insurance brokerage general agencies (BGA) across the United States with combined first year life insurance premiums in excess of $700 million.
AIN VenturesSM finds opportunities within the realms of technology, product design and strategic partnership development with the common theme of fulfilling the unmet needs of the BGA and their advisors. By leveraging AIN’s innate scale and purchasing power with a variety of technology solutions, synergies will abound.