MINNEAPOLIS, Jan. 26, 2017 (GLOBE NEWSWIRE) -- GWG Holdings, Inc. (Nasdaq:GWGH), a financial services company applying epigenetic technology to transform the life insurance industry, announced it has hired Dr. Brian Chen to lead its new initiative to measure and predict human lifespan.
As Vice President of Research and Analytics, Dr. Chen will be responsible for developing and implementing GWG’s new life insurance underwriting process using “DNA Methylation-Based Predictor of Mortality” technology optioned from the University of California, Los Angeles (UCLA). The technology developed by Dr. Steve Horvath at UCLA will be used by GWG to more accurately assess the life expectancies of policy owners. GWG is in the process of integrating this technology into its actuarial underwriting method to enhance its current secondary market business, as well as explore even greater opportunities in the life insurance industry.
“Brian will play a key role in bringing to market our proprietary approach that uses epigenetic technology to determine estimates of an individual’s lifespan,” said GWG CEO Jon Sabes. “His experience working with Dr. Steve Horvath and the technology we have optioned from UCLA will accelerate our development of new procedures and products. Our goal is to rewrite the century-old ways of life insurance underwriting and reinvent the industry in doing so. This is an exciting opportunity for us as we push forward into the insurtech space where insurance and technology meet.”
Dr. Chen worked closely with Dr. Horvath at UCLA as an epidemiologist who studied the biological underpinnings of aging and age-related diseases. Dr. Chen was first author of the study on DNA methylation and mortality prediction building on Dr. Horvath’s work that was published in the journal Aging in September 2016. Most recently, Dr. Chen worked at the National Institute on Aging (NIA) as a postdoctoral researcher. Prior to coming to the NIA, Dr. Chen worked at the National Heart, Lung, and Blood Institute's Framingham Heart Study that provided important blood samples for the UCLA team’s work. Dr. Chen received his Ph.D. in epidemiology from UCLA and Master's in Public Health from the University of California at Berkeley.
About GWG Holdings, Inc.
GWG Holdings, Inc. (Nasdaq:GWGH) is a financial services company committed to applying advanced epigenetic mortality prediction technology to the life insurance and related industries. Already a recognized disruptor in the life insurance secondary market, GWG seeks to further transform the industry by continuing to create innovative products and services. As of September 30, 2016, GWG’s growing portfolio consisted of $1.27 billion in face value of policy benefits and paid consumers $357 million for their life insurance.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans and objectives of management are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "would," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among other things, statements about our estimates regarding future revenue and financial performance. We may not actually achieve the expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the expectations disclosed in the forward-looking statements we make. More information about potential factors that could affect our business and financial results is contained in our filings with the Securities and Exchange Commission. Additional information will also be set forth in our future quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings that we make with the Securities and Exchange Commission. We do not intend, and undertake no duty, to release publicly any updates or revisions to any forward-looking statements contained herein.
Source:GWG Holdings, Inc.