Citizens, Inc. has made a significant move by entering into a Master Software as a Service Agreement with Bestow Agency LLC. This partnership, announced on October 9, 2026, is designed to modernize the company’s technology infrastructure, specifically for its insurance processing and underwriting operations.
The agreement allows Citizens, Inc. to access Bestow's proprietary web-based software platform, which will be utilized for various functions, including policy administration and related services. This strategic decision is expected to enhance the company’s operational efficiency and improve the customer experience.
Background
Citizens, Inc., operating under the SIC code 6311 for Life Insurance, is a publicly traded company listed on the New York Stock Exchange under the ticker symbol CIA. The company has been engaged in providing life insurance products through its subsidiary, CICA Life Insurance Company of America, which is licensed in 43 states, Washington, D.C., and Puerto Rico.
What the Filing Says
The filing details that on October 5, 2026, Citizens, Inc. entered into the Master Agreement with Bestow, which includes two specific orders: the Build Order and the Run Order. The Build Order focuses on the implementation of the Final Expense Products, while the Run Order governs ongoing access to Bestow's platform.
The filing states, “The Company believes that the relationship with Bestow will support the modernization of the Company's technology infrastructure and enhance the administration and distribution capabilities associated with its insurance products.”
Impact
This agreement is poised to affect Citizens, Inc.'s operational capabilities significantly. By leveraging Bestow's platform, the company aims to streamline its insurance processing and improve the efficiency of its agents who will be able to quote, apply, underwrite, and issue policies electronically. This shift towards digital solutions may also influence competitors in the life insurance sector to enhance their technological offerings to keep pace.
What's Next
The filing does not specify what happens next, but it indicates that the implementation of the platform is expected to be completed by December 15, 2026. Citizens, Inc. will likely continue to work closely with Bestow to ensure a smooth transition to the new system.