Two group benefits firms in the Greater Toronto Area have joined forces to strengthen growth and innovation in the benefits and insurance industry.

The new joint venture between Etobicoke, Ont.-based Steven Cohen Insurance Agency Inc. and North York, Ont.-based RRJ Insurance Group Ltd. took effect on Jan. 1. Plan sponsor clients will have access to the DC Hub, a digital administration tool to manage benefits plans on a paperless platform, as well as artificial intelligence-driven solutions to simplify the life insurance application and underwriting process, according to a press release.

Read: Cost savings top driver for benefits technology use: report

“This venture between our organizations will serve as a catalyst to expand our offering in a strategic manner,” said Abraham Baboujian, chairman and chief executive officer of RRJ Benefits. “More importantly, it presents greater opportunities for all our clients and our staff, as we leverage the knowledge, experience and tools that the SC team has built to enhance the experience for our clients and save them money at the same time.”

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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