(Image credit: Nitesh Jain.)
Modern Life (New York), a tech-enabled life insurance brokerage has announced a distribution partnership with Pacific Life Insurance Company (Newport Beach, Calif.). The partnership combines Pacific Life’s competitive suite of life insurance products and underwriting expertise with Modern Life’s state-of-the-art technology, streamlined digital journeys, and best-in-class brokerage expertise, according to a Modern Life statement.
“We have experienced an ongoing transformation and increasing demand for digital solutions for life insurance professionals and their clients,” comments Dawn Behnke, EVP, Consumer Markets Division, Pacific Life. “Modern Life’s digital capabilities offer an experience that meets the demand with a platform that expands the reach for our life insurance offerings.”
As a result of the partnership, financial professionals will have access to Pacific Life’s product portfolio through Modern Life’s brokerage-optimized platform, which leverages data and analytics to expedite risk assessment, underwriting, and quoting, Modern Life says. Additionally, Modern Life’s integrated dashboard reduces common pain points financial advisors face throughout the life insurance sales process, including appointments and onboarding.
Advanced Technology and Brokerage Solutions
“Almost overnight, the pandemic brought the most rapid change in the 150-year history of the life insurance industry,” comments Michael Konialian, co-founder and CEO, Modern Life. “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.”