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Modern Life Unveils First-of-its-Kind Digital Life Insurance Journey for Advisors

Insurance Forums Staff

Modern Life, a tech-enabled life insurance brokerage, recently announced the rollout of its digital life insurance journey for financial professionals and their clients.

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.”

Modern Life helps advisors:

  • Advice with less hassle: The platform’s comparison and quoting tools help advisors identify the highest value program for each client based on their unique health profile and coverage needs.
  • Engage clients throughout the process: The suite of products makes the entire advice and application process more transparent, from personalized experiences to have clients enter relevant data to the ability to share quotes directly with clients, across desktop and mobile devices.
  • Streamline the application process: A fully digital application enables advisors to transfer client information seamlessly from quote to application, reducing errors and saving time. The platform also optimizes for accelerated underwriting to help shorten the time to approval.
  • Manage all client and brokerage needs in one place: The Modern Life dashboard is a centralized source for client information and application statuses, as well as a window into advisors’ practices, showing commissions, appointments and other resources.

“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 brokerage team, whose members boast an average of more than 15 years each of life insurance brokerage experience.

“Modern Life’s offering has been exceedingly helpful in streamlining the underwriting process and securing policies quickly,” said Scott DeSantis, CEO at Civic Financial, a planning firm. “They’re a tremendous value-add to our firm on both the front and back end.”

For more information visit modernlife.com.



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