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TruStage™ Payment Guard wins 2024 Celent Model Insurer Award

Annual award acknowledges Innovation Execution in insurance industry
March 27, 2024
A group of people discussing TruStage™ Payment Guard winning the 2024 Celent Model Insurer Award

MADISON, Wis. — TruStage Payment Guard Insurance has been recognized by Celent as a winner of the 2024 Model Insurer Award for Innovation Execution. Celent, a global research and advisory firm for the financial services industry, announced the winners at its recent annual Innovation & Insight Week.

Launched in 2023, TruStage Payment Guard is a first-of-its-kind insurance solution built for digital lenders. For decades lending insurance has played a critical role in the consumer credit ecosystem. As loans become digitized, TruStage Payment Guard is the first Digital Lending Insurance (DLI) solution to provide coverage for a fully digital lending event. The product is designed to be a component of the loan, adding an extra layer of protection for both lenders and borrowers.

“In an era where financial uncertainty could be a concern, TruStage Payment Guard is a beacon of innovation in the digital lending space,” said Danielle Sesko, TruStage director of Product Management. "This groundbreaking product not only helps to fortify borrowers against the unforeseen challenges of job loss and disability but also redefines the essence of borrower protection. By seamlessly integrating into digital lending platforms, TruStage Payment Guard ensures peace of mind is not a luxury, but a standard. We are proud to be recognized as a leader in this vital space by Celent and look forward to amplifying our mission of making brighter financial futures available to everyone.”

Celent’s annual award program recognizes insurance carriers as “model insurers” for their outstanding technology initiatives. Winning initiatives must demonstrate clear business benefits, innovation and technology or implementation excellence.

“Embedded insurance represents a shift in the insurance industry towards a more customer-centric and digitally-enabled approach, where insurance is integrated into the customer’s journey, making it relevant at the point of interaction or even invisible,” said Juan Mazzini, Celent’s director of Insurance — APAC, EMEA, LATAM. “TruStage Payment Guard Insurance is an outstanding example of how to make insurance more accessible, relevant, and personalized for customers. TruStage has demonstrated that it’s possible to put the customer in the center of the design, while aligning the partner’s interests and building a completely new capability that opens the door to more innovation.”

In just over a year since launching, TruStage Payment Guard is currently protecting over $385M in loan balances through four partnerships and has helped prevent over $2 million in aggregate loan balances from going into default.1 Long-term, TruStage Payment Guard aims to help improve financial equity and inclusion by helping lenders build a resilient loan portfolio.

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About TruStage

TruStage is a financially strong insurance, investment, and technology provider, built on the philosophy of people helping people. We believe a brighter financial future should be accessible to everyone, and our products and solutions help people confidently make financial decisions that work for them at every stage of life. With a culture rooted and focused on creating a more equitable society and financial system, we are deeply committed to giving back to our communities to improve the lives of those we serve. For more information, visit

TruStage Payment Guard Insurance is underwritten by CUMIS Specialty Insurance Company, Inc. CUMIS Specialty Insurance Company, our excess and surplus lines carrier, underwrites coverages that are not available in the admitted market. Product and features may vary and not be available in all states. Certain eligibility requirements, conditions, and exclusions may apply. Please refer to the Group Policy for a full explanation of the terms. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by any financial institution. Corporate Headquarters 5910 Mineral Point Road, Madison, WI 53705.

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Rachel Strauch-Nelson:
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Kara O'Keeffe:
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