Covr Financial Technologies, developer of a digital multi-carrier life insurance platform, has hired a new chief distribution officer.
The company has brought in Mark Merritt. In his new role as chief distribution officer, he will be responsible for business development, sales execution and key account management. Merritt will be based in Covr’s new sales office in Hartford, CT.
Merritt was previously with Nationwide Financial, where he spent 14 years of his career – most recently as the managing director of relationship strategies for the company’s life, annuity, and mutual fund product lines. Before joining Nationwide, he held sales management positions at Prudential and the Hartford. Merritt was a divisional sales manager with American Skandia and Prudential Annuities, and spent five years with The Hartford in a number of sales positions.
He has the Fellow Life Management Institute (FLMI) and Certified Business Coach designations.
“Mark will deepen and expand Covr’s footprint by introducing Covr’s digital insurance platform to the country’s most progressive financial institutions and emerging life insurance distribution channels,” said Covr CEO Michael Kalen. “Mark’s passion for helping financial advisors and financial institutions integrate insurance into financial planning has helped many clients do more for their clients’.”
Kalen noted that during Merritt’s tenure at Nationwide, he helped establish “high quality relationships with many of Covr’s current and target clients.”
“I’m excited to join Covr at this important point in the development of the company. Covr’s insurance platform is truly unique in the market and presents a tremendous opportunity for financial services institutions to deepen existing client relationships by providing the comprehensive financial planning assistance clients want,” said Merritt. “Most clients believe they need life insurance, but up to now they have been deterred by the complicated process. The Covr platform takes away their reluctance.”
