Modern Life, a tech-enabled life insurance brokerage, recently announced the rollout of its digital life insurance journey for financial professionals and their clients. The Life sector is still ripe for transformation and increasing use of data streams offers underwriters and agents the chance to simplify the process and reduce form-filling.
Through a completely digital end-to-end experience, Modern Life provides a multi-carrier, multi-product (e.g., permanent life, term life, long-term care) platform to empower advisors to provide high quality, objective advice and serve their clients throughout the life insurance process without the hassle of legacy systems.
Modern Life’s technology supports advisors across every stage of the life insurance purchase journey, from advice, to application, to in-force management. The platform includes digital field underwriting leveraging data analytics to determine highest value products for customers and unique, shareable digital intake forms to remove frictions in the collection of client data. The platform also optimizes for accelerated underwriting, reducing the time from quote to policy approval.
“The life insurance application process is notoriously complex and time-consuming for advisors and their clients,” said Jack Arenas, Modern Life’s Co-founder and CTO. “We empower advisors by combining great technology, analytics, and user experience design to help their clients get the right coverage quickly and efficiently.”
“Our team has worked closely with industry experts, including a number of advisors, to build technology that streamlines the life insurance application process,” said Arenas. “We are excited by the early response to our technology and support from the industry and look forward to driving further innovation in the space.”
Modern Life’s digital offering is supported by the firm’s leading brokerage team, whose members boast an average of more than 15 years each of life insurance brokerage experience.
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