Modern Life, a tech-enabled life insurance brokerage, has partnered with Pacific Life Insurance Company to boost life insurance sales.
Pacific Life aims to help individuals and families with their financial needs through a wide range of life insurance products, annuities and mutual funds.
The company also offers a variety of investment products and services to individuals, businesses and pension plans.
Modern Life is a tech-enabled life insurance brokerage. With a focus on empowering advisors, Modern Life offers advanced technology solutions to digitally streamline advisors’ practices and expert brokerage support. With Modern Life, advisors nationwide can compare quotes from top carriers in minutes, perform data-driven underwriting assessments, manage clients from an integrated dashboard, and receive comprehensive deal support.
The partnership will see the combination of Pacific Life’s competitive suite of life insurance products and underwriting expertise with Modern Life’s technology, digital journeys and brokerage expertise.
Financial professionals will also have access to Pacific Life’s product portfolio through Modern Life’s brokerage-optimised platform, which leverages data and analytics to expedite risk assessment, underwriting, and quoting.
Additionally, Modern Life’s integrated dashboard reduces common pain points financial advisors face throughout the life insurance sales process, including appointments and onboarding.
Dawn Behnke, executive vice president of the company’s Consumer Markets Division, said, “We have experienced an ongoing transformation and increasing demand for digital solutions for life insurance professionals and their clients.
“Modern Life’s digital capabilities offer an experience that meets the demand with a platform that expands the reach for our life insurance offerings.”
Michael Konialian, co-founder and chief executive officer of Modern Life, added, “Almost overnight, the pandemic brought the most rapid change in the 150-year history of the life insurance industry. Modern Life helps leading financial professionals thrive in this period of lightning-fast change by providing advanced technology and brokerage solutions purposefully designed for the modern advisor.”
Last year, M Financial Group, a financial service design and distribution company, teamed up with Pacific Life and Verisk to build a new life insurance product.
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