Sompo Horizon and EverSafe join forces to protect seniors from financial exploitation

05/11/2023 News

Sompo Horizon, a subsidiary of Sompo Holdings and a new employee benefits caregiving provider, has partnered with EverSafe, an innovative service combatting financial exploitation among older adults. EverSafe is the latest addition to the CareGo Marketplace, which offers caregiving services to employees caring for aging family members. This collaboration aims to address the increasing concern of financial fraud targeting the elderly and protect them from digital and financial scams.

In the United States, the demographic shift is undeniable, with over 80 million people expected to be over 65 by 2040. As the aging population grows, so does the risk of elder fraud. The Federal Bureau of Investigation's Elder Fraud Report for 2021 reported a staggering 74% increase in elder fraud cases from 2020 to 2021, emphasizing the vulnerability of seniors to digital and financial scams.

CareGo, a portal offering caregiving services, acknowledges the urgency of addressing this issue. To empower caregivers in safeguarding their loved ones from financial exploitation, digital fraud, identity theft, and age-related issues, CareGo has partnered with EverSafe.

Tetsuya Morito, President of Sompo Horizon, expressed the mission behind this partnership, stating, "Digital scammers know that aging adults can sometimes be an easy target. Our mission is to empower caregivers with the tools they need to keep their loved ones safe. EverSafe enables aging seniors and their caregivers to easily monitor unusual financial activity."

Howard Tischler, CEO of EverSafe, shared a personal perspective on the importance of their service. He said, "My mother was victimized by scammers, and she lost her life savings. EverSafe would have provided me with a tool to intervene promptly."

Liz Loewy, COO of EverSafe, highlighted the growing concern of elder fraud and the pivotal role caregivers play in detection, stating, "Elder fraud is on the rise, and caregivers are often in the best position to detect problems. We are proud to partner with CareGo to proactively protect the financial health of seniors and families."

Through its network of trusted partners, CareGo offers high-quality caregiving products and services. With EverSafe as the newest addition to the CareGo Marketplace, caregivers will have a valuable tool to safeguard the financial well-being of seniors and provide peace of mind to families. This partnership underscores the commitment to ensuring the welfare of our aging population in an era where digital threats to their financial security are on the rise.

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