Traffk has launched Hero Life Insurance, which helps brokers and agents better compete in the digital insurance marketplace.
The new service was created through a strategic alliance with reinsurer SCOR, which aimed to build alternative business lines with digital players. Policies will be underwritten by Assurity Life Insurance Company.
It claims Hero Life is unique with how it handles online life insurance, because it is exclusively designed for brokers and distributors requiring no medical exams for applicants who qualify. It also offers up to $2m in term life coverage in under 20 minutes.
Customers with directly with sales professionals to determine the best policy for their health and lifestyle. To complete the process, clients are guided through a simple electronic signature ceremony to review and apply directly from their computer, tablet or mobile device.
Traffk CEO and co-founder Glenn Hibler said, “Over 90% of life insurance is sold through brokers, yet the majority of digital insurers are going direct to the consumer and completely cutting out the broker.
“Our approach is different. We believe enhancing the insurance professional’s capabilities is the ideal way to close the coverage gap. What we offer is an all-digital, instant decision term life policy designed to be sold over the phone, via web conference or with a sharable link. The process is done in minutes and requires no medical exam for those applicants who qualify.”
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