Michael Abraham
Irvine, CA (USA)
Role(s):
Other
Traded Policy Desk
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Startup
Location:
Irvine
Industry:
Insurance
Year Founded:
2014
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
"C" Corporation
Description:
The Traded Policy Desk is an online platform allowing Insurance Agents and their client’s access to single and fractionalized Traded Life Policies (TLP’s and TLP Units). These are existing life insurance policies purchased in the secondary and tertiary market and known in the US as life settlements.
The Desk has been set up to take advantage of the long experience of its directors and the operational and sales ability of the operating team. The initial focus of the company is to sell small face policies, generally up to $500k face value (FV) and fractions of medium FV up to $2m.
The company is working within its cash availability though and increase in the level of marketing spend would quickly allow it to best achieve its targets. A cash injection of $150k would ensure that a fuller marketing campaign could be pursued and would cover the running costs of the company at least until the year end. However it is anticipated that the company will cover its overheads and move in to profit well ahead of that time.