Digital technology has vastly transformed nearly every industry, many of which have already adapted their models to ensure future success. For life insurance advisors, though, the two primary ways of delivering policy documents – via paper or electronically – has remained the same for many years. 

But a more expansive digital transformation has finally arrived for the life insurance industry. The new alternative? Digital file sharing and storage.  

Digital storage provides policyholders with a convenient, secure way to save and transmit important files for the future as well as other significant capabilities and features. Life insurance agents who embrace this new technology stand to reap significant rewards for their clients and their business.

Why it's the future

An advisor sending paper documents or PDF files via email is no longer enough. Clients want a more interactive experience where they can monitor their policy and confirm important documents won't be lost. With plans that are digitally stored, all records live on a shared platform, so clients always know where to locate them, and life insurance agents can help guide clients when needed.

As they plan for the future, most clients are likely interested in providing their loved ones with an extra level of comfort after their passing. When individuals digitally store important documents – such as a will, bank account information, or property records – they can allow others access to them any time before or after their passing. 

The time immediately after losing a loved one is extremely difficult, and placing every important document in one central location can drastically improve the processes that take place.  

Communication central

A proven benefit to the digital model is the constant line of communication between all parties. Advisors can share documents with clients at any time. Once reviewed, the documents can live on the platform forever. If clients choose, they can contact the advisor directly on the site. Additionally, any persons clients have allowed will have access to the documents. 

Memory capsule 

The future of life insurance won't just be confined to wills and legal documents either. As our lives become more scattered across various online platforms and devices, it's all too common that, after a loved one's passing, the family finds it difficult or even impossible to access important photos, videos, and sentimental documents. 

These precious family memories may be lost forever. 

With a digital storage platform, clients can save the traditions, life lessons, and memories that are just as important a part of their legacy as their legal documents. The digital platform can serve as a hub for photos, recipes, stories, and even favorite songs. Your clients' treasured memories can be kept alive and accessible to their families.

In 2020, our entire world "lives" online and is available via smartphone. So, why shouldn't accessing the things that truly matter most be just as easy? Learn more about how a digital platform can preserve clients' memories and build a stronger client-advisor relationship by visiting our January blog, YOUR CLIENTS' LEGACIES ARE MORE THAN NUMBERS.

Heather McKee

Written by Heather McKee

Heather is currently the VP, Product for LegacyShield. She draws upon her extensive history of running life operations at a nationally recognized life insurance general agency to incorporate next-gen features and benefits.