Nitrogen Wealth Rolls Out Insurance-Focused AI Tools for Advisors

Nitrogen Wealth, an artificial intelligence-backed wealthtech platform, has launched a new product that centers on providing advisors with expanded access to tools to address a wide variety of clients’ coverage concerns. 

Nitrogen’s latest tool, Insurance Center, is part of its Coverage Number and is designed to serve as an assessment tool that gathers client data to generate a “Coverage Number.” The tool serves as a guide to help advisors identify potential gaps in coverage or excess coverage.  

The metric labels scores below 100 as an indication of a coverage gap, while scores above 100 could suggest excess coverage. However, scores between 80 and 120 are considered on track, according to Nitrogen. 

“Insurance is complicated because not only is it complex financial products, but more importantly, it’s hard to have a conversation without being insensitive about death, sickness, or injuries,” said Dan Zitting, chief executive officer at Nitrogen Wealth. 

Nitrogen’s product comes at a time when the insurance-related need gap among Americans continues to rapidly increase. An average of over 100 million Americans are without or lack adequate coverage as of last year, according to Choice Mutual data. 

The Insurance Center comes close to three months after Nitrogen launched its AI-powered wealth transfer tool, Legacy Center, which helps advisors foster relationships with clients and their beneficiaries before diving into wealth transfers. 

“Advisors tend to be a little more quantitative in their thinking and having [a tool] that is numeric that can kind of play through the lens of, ‘Here’s an objective score of where you’re at, as opposed to sometimes when you’re on small relations,’” said Jesse Rosato, chief technology officer at Nitrogen Wealth. 

Currently, “tens of thousands” of advisors use Nitrogen’s existing products, and about 80% of advisors use it for insurance purposes, according to Justin Boatman, chief marketing officer and head of Product Strategy at Nitrogen Wealth. 

“Advisors are not shocked to tell us how their business works and what they need. They’re telling us about the problems in their business, and we can do something that doesn’t exist yet,” Boatman said. 

Independent broker-dealer LPL Financial is an approved user of the Insurance Center, which Nitrogen aims to sell as an independent service or allow advisors to add the product to their existing plans.

Insurance Center is powered by Nucleus, an AI agent created by Nitrogen, which launched in February. 

Nitrogen was founded in 2011 and was formerly known as Riskalyze before rebranding in 2023.

Pictured: Dan Zitting (Left), Jesse Rosato (Middle) and Justin Boatman (Right)