The startup offers an income connectivity platform that enables seamless data sharing among insurers, asset managers, and recordkeepers to enhance retirement income planning. By facilitating efficient integration of financial data, the platform transforms retirement savings into reliable income streams for clients.
Funding
$11.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The retirement income ecosystem is often fragmented, leading to challenges in data collection and transfer between key stakeholders such as insurers, record keepers, and asset managers. This lack of seamless connectivity can hinder the efficient delivery of lifetime income products to plan participants.
Solution
Micruity provides a data connectivity platform that streamlines the integration of financial data among insurers, asset managers, and recordkeepers, facilitating the transformation of retirement savings into reliable income streams. The Micruity Advanced Routing System (MARS™) enables secure and frictionless data exchange, simplifying plan administration and scaling guaranteed income products. By offering a single integration point, Micruity connects plan members with annuity buying decisions, supports plan administration, and scales guaranteed income products to transform retirement savings plans into retirement income. The platform supports accumulation for allocated and unallocated products, income election support for retirees and participants leaving the plan, and payout aggregation for multi-insurer products.
Target Audience
The primary target audience includes insurers, asset managers, record keepers, and plan sponsors seeking to streamline data connectivity and enhance the delivery of retirement income solutions.
Features
- Secure data collection and transfer between insurers, record keepers, asset managers, and plan sponsors
- Single integration point for connecting plan members with annuity buying decisions
- Supports accumulation for allocated and unallocated products
- Provides income election support for retirees and participants leaving the plan
- Offers payout aggregation for multi-insurer products
- White-labeled solutions and APIs to power a single-sitting web application
- Customizable pURL generation and real-time illustration
- Product Path Intelligence: Glide Path, Insurer Pricing, Selection Engine, and Blended Rate
- SOC2 Compliant