Lincoln Financial Group has teamed up with Modern Life, a tech-enabled life insurance brokerage, to augment the distribution of its life insurance products.
The deal, signed by Lincoln Financial Distributors (LFD), will make Lincoln’s life insurance product portfolio available on the Modern Life’s digital platform.
The partnership is part of the company’s strategy to enhance its virtual-first distribution strategy.
To accelerate risk assessment and quoting, Modern Life’s technology will leverage data and analytics tools.
Modern Life also boasts of an integrated dashboard that slashes friction points for financial professionals.
Lincoln Financial Distributors’ senior vice president Aadil Lokhandwala said: “This new partnership with Modern Life enables us to expand our distribution reach, accelerates our virtual-first distribution strategy and provides increased transparency and an improved end-to-end digital experience for financial professionals in serving their clients.”
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Besides, the partnership ensures access to a range of Lincoln’s products, including permanent and term coverage and linked benefits.
Modern Life co-founder and CEO Michael Konialian said: “Financial professionals faced the highest rate of new business growth in decades, which makes it more important than ever that they and their clients have a streamlined and simple digital life insurance experience.
“We are thrilled to partner with a company like Lincoln Financial, with broad product and underwriting expertise, to bring our technology platform and advancements to support financial professionals and their clients.”