A commitment to innovation powers RGA’s dedication to creating the solutions that meet client needs today and into the future.
In the spirit of keeping our tagline "The security of experience. The power of innovation." alive, we took a substantial leap forward three years ago with RGA's launch of RGAX, our innovation and digital business arm. Now, with RGAX's acquisition of LOGiQ3 Group (pronounced "Logic 3"), this commitment to innovation and Insurtech continues to grow and evolve.
RGA's former CEO, Greig Woodring, once charged us to “shepherd the life insurance industry to the next generation by providing the tools and capabilities to reach people in connected ways within a wired world.” By acquiring LOGiQ3 Group, our innovation strength is amplified.
Who is LOGiQ3 Group?
LOGiQ3 Group is a fast-growing, inventive group of subsidiaries. The 100+ team members that comprise the 12-year-old firm provide technology, consulting, and outsourcing solutions to life insurance and reinsurance companies. Their principal focus is on third-party reinsurance administration, underwriting, and innovative solutions that bring the industry together–services that dovetail well with RGAX and RGA's capabilities and services.
LOGiQ3 Group includes LOGiQ3 Corp., TAI, APEXA and Cookhouse Lab. Each offers significant proficiencies and services that will strengthen RGAX and RGA. Their solutions are vastly established in North America and are expanding globally to UK and EMEA regions.
- LOGiQ3 Corp. is a well-regarded reinsurance administration and underwriting outsourcing and consulting company working with some of the largest life re/insurers.
- TAI (Tindall Associates, Inc.) is a reinsurance software and consulting services with over 30 years of experience. At its core, TAI delivers a complete suite of solutions for life insurers to self-report and share reinsurance information for assumed, ceded, or retroceded business. TAI currently has more than 100 active licenses, representing 96% of the top 50 ceding insurers in North America (by premium volume).
- APEXA, the most recently formed subsidiary, currently offers Canadian insurers and agencies a single platform for centralized compliance screening and contracting solutions for advisors and agents and is well-positioned for future global growth.
- Cookhouse Lab provides an innovative and forward-thinking space for industry experts and creative thinkers to collaborate and co-develop Insurtech-focused solutions that will enhance the future of the life and health insurance industry.
How will LOGiQ3 capabilities benefit RGA clients?
With the addition of LOGiQ3 Group, clients are now directly connected to an additional team of 100+ experts ready to deliver operational excellence through consulting, outsourcing, software solutions in the areas of advisor compliance, life underwriting, ceded reinsurance administration, and claims management. Their solutions can help clients reduce the reliance on manual processes, fill knowledge gaps by eliminating internal dependencies, and validate the accuracy of current systems and processes in place.
LOGiQ3 Group's past successes and their ability to efficiently build, acquire, develop, nurture and grow smaller insurance businesses are of significant value to our client ecosystem. The innovation lab, the IT platforms and the software solutions will enhance current offerings by providing immediate scale. LOGiQ3 Group’s multinational footprint (U.K., Canada, U.S.) also fits well with RGA's own, and its ability to provide valuable services to clients while also generating fee-based revenue makes it a strong cultural and strategic fit.
"The team at LOGiQ3 Group are proven industry leaders and innovators with a mission, culture, customer focus, and values that closely align with those of RGAX," said Dennis Barnes, Chief Executive Officer of RGAX. "The combined business platforms of LOGiQ3 Group and RGAX will provide a powerful suite of technology and service offerings across the insurance industry value chain."
Reinforcing RGA's continued focus on innovation
RGA has long been committed to building and supporting sustainable solutions that provide long-term benefits to our industry. The addition of LOGiQ3 Group promises to provide our clients with exceptional growth opportunities, leveraging cutting-edge industry knowledge in ways that will bring new and creative ideas, connections, processes, talent, and data to the market.
This acquisition underscores RGA and RGAX's commitment to innovation worldwide and our continued focus on resources and capabilities that will enhance our industry's growth and help ensure long-term success.