Lifester opens soon

Lifester to Change How Life Insurance Decisions Made

Lifester, an easy-to-use life insurance decision-making platform bringing together life insurance advisors and interested consumers, announced today that it will officially launch its online service on July 12th. Lifester is betting that the industry is ready to use the Internet in a powerful new way — not to shop for life insurance, but to dramatically improve the availability and flow of information between interested parties, empowering consumers to make more informed buying decisions.

Producer Members subscribe to Lifester and present recommendations to consumers in the form of “Projects.” Projects are scrollable web pages that contain videos, text explanations, tables, charts, and other uploaded files. Consumers can share their Projects with family members, close friends and personal advisors for critical feedback that can help them make decisions or lead to Project updates.

Lifester will be free to Consumers who are in the market for life insurance and need assistance from a licensed professional, and available to life insurance advisors for a small monthly fee. “Lifester makes the experience of looking for the right life insurance policy less intimidating,” says Jason Denker, Co-Founder and Chief Sales Officer. “The process is completely transparent, and feedback from interested parties can be conveniently gathered without having to physically meet. Lifester is like a virtual conference room that never closes.”

Lifester is re-imagining the way consumers and life insurance professionals work together. Built by advisors for advisors, Lifester also addresses the traditional pain points of the life insurance sales process. Instead of multiple sales meetings and lengthy reports, Lifester Projects are completely digital, so they make it easier for life insurance producers to communicate complex product and strategy ideas to multiple interested parties.

Lifester does not sell life insurance or participate in any resulting life insurance sales. For more information about Lifester, visit

Next Generation of Life Insurance

We had recently exhibited at an industry event that included Producers from some of the biggest insurance carriers.  We quickly found out that a good deal of these attendees had been asking for some time, when will they start seeing more life insurance technology companies. Well, you can imagine the warm welcome we received at our booth from these folks. It wasn’t long before these Producers were echoing the sentiments of their clients “Can’t there be less paperwork?” “Can’t this all be done online?” “Do you have to ask all those questions?” “Why does it take so long?”  “If things were just easier.”

Insurance companies have worked hard to streamline the application process. And while this may improve the selling experience for some producers, does it really lead to more life insurance sales? Are producers presenting to their existing clients in a more efficient way or even generating referrals or finding more qualified leads?

I remember reading a great article on Insurance Thought Leadership  that said, “More and more, carriers realize that engagement innovation is the next level of digital transformation. From a customer point of view, this is not about a new lipstick or a nose job but about a real makeover. Engagement innovation not only includes customer experience, but customer-centric products, new added value services and new business models, as well. Insurtechs that really innovate customer engagement for incumbents have a great 2017 ahead.”  You might remember we also had an article featured as well on Insurance Thought Leadership that touched on a number of these same points. You can find it here .

The next generation of life insurance selling requires a new impactful approach. One that changes the relationship between producer and consumer. One that changes the decision-making process that leads to the purchase of life insurance.  One that offers consumers the advantage of 24×7, efficient, online life insurance technology, but adds the human element of a dedicated life insurance professional offering personalized recommendations.

The next generation of life insurance could very well be Lifester.

Why Agents Must Be Ready for Technology

This should come as no surprise. It has been the inevitable trend of every industry. Consumers prefer to shop online – for just about everything and anything. Not because they want to. But because they have to. Information overload dictates that busy consumers take every opportunity to save every second possible. It’s almost an imperative for young, hard-working, multitasking families.

So perhaps we should have expected McKinsey & Company to report that soon: “Leading digital carriers will go further by digitally enabling their sales forces, interacting with consumers and intermediaries in real-time omnichannel environments and offering remote and robo-advice at any hour on any platform.” (See McKinsey & Co., Harnessing the Power of Digital in Life Insurance).

What does this mean? We are being warned by the oracle of consulting firms that life insurance consumers want to interact by computer, and insurers should immediately respond by offering them remote, real-time, always-on “robo-advice”. Where does that leave the seasoned insurance professional? Will the agent finally be replaced by the algorithm? If you think this is science fiction, think again. This technology is already here. Continue Reading

Want to do something fun? Look for insurance online :)

Want to do something fun? Try going online and figuring out what kind of life insurance plan you need. Term? Whole life? Current assumption UL? Equity index UL? Not sure what those are? Don’t worry. You can do it! Now think about which insurance company is best for you, given your age, health and underwriting issues. Think about which particular product. And which set of features and riders. Which crediting strategies or combination of crediting strategies, in what proportions. Still interested?

Now think about how much premium you’re going to spend and what benefits you and your beneficiaries are going to receive as a result. Will you take income from the policy? If so, when? What impact will that have on the policy for the remaining years? What if market conditions change? What if interest rates change? What if we experience higher than expected inflation rates? Are you there?

What’s the best way to structure your life insurance transaction? Are you going to own the policy personally? Should it be owned by your corporation or by an irrevocable trust? Is the death benefit included in your estate? Are distributions from the policy taxable? Can you protect your cash value from creditors? Is anything ever deductible under any circumstances? Hello?

I understand it pains you to sit down with a life insurance agent who obviously gets paid by selling you something. I get that. But let’s face it, they’re the experts. And what they’re selling, you need to buy! So how’s this for a compromise. It’s called Lifester. You can do everything online just like you were trying to do before. No one will hard-sell you anything. Rather, you collaborate with your insurance producer to build a life insurance Project that will ultimately grow to become a custom designed solution for you.

Once the Project is completed, you can invite your other personal advisors such as your accountant or tax attorney to review and critique. You can also invite family members, close friends or anyone else you think might provide valuable feedback for a better decision. In other words, the Internet is used to assemble a private team of advocates to idea source on your behalf so that you can most efficiently achieve your goals. And if you are satisfied with the proposed final solution, you can move forward with the coverage. Then and only then, your life insurance agent will earn a well-deserved commission. Regardless, Lifester never participates in any insurance commission, since Lifester is just a software service that is free for consumer use. Ah, you’re back!

Do Your Clients Understand Your Insurance Proposals?

Just because it makes sense to you doesn’t mean it makes sense to your clients. Life insurance strategies and, in many cases, the underlying products themselves tend to have lots of moving parts. As a result, it’s not always easy to understand lengthy life insurance proposals and quotes let alone implement critical recommendations.

Lifester makes sure everyone is on the same page by changing the entire dynamic between Producer and Consumer. By co-building Projects in Lifester, experienced Producers and Consumers work together to produce engaging multimedia pages that tell a story and explain a life insurance plan. Not just give a quote. The purpose of the Producer is no longer to communicate to the Consumer, but for both the Producer and Consumer to communicate to the team of Project Members they have assembled by inviting them to the Project. Ultimately, it is their approval that is being sought. Continue Reading

The Life Insurance Industry Needs to Embrace Digital

Some of the foremost consulting firms like McKinsey have been publishing a number of research papers regarding the life insurance industry and the warranted paradigm shift to digital.

“Leading digital carriers will go further by digitally enabling their sales forces, interacting with consumers and intermediaries in real-time omnichannel environments and offering remote and robo-advice at any hour on any platform.”  Insurance carriers understand the need to embrace and invest in digital tools to reinvent their business models for the twenty-first century.”  McKinsey & Co Harnessing the Power of  Digital in Life Insurance

Life insurance is an important decision that lasts a lifetime and requires more decision making and feedback than some of the quick quote sites.  This was the very basis for which Lifester was founded:

  • Consumer Leads: Consumers come to get  free recommendations they can share for feedback to make decisions
  • Self-Guided Sales: Consumers initiate sales process with input from licensed producers and other invited sources
  • Feedback Marketing: Products and strategies are shared as Projects with Producers for feedback and improvement

Consumers want to be in the driver’s seat when it comes to making smart decisions about life insurance.  As more consumers turn to the Web for information on the best insurance plans, quotes and affordability, it’s critical for life insurance agents to be there.  Many insurers consider the direct-to-consumer channel to be a vital offering to their very survival. We know already that disruptors are targeting the insurance value chain by replacing agents with algorithms. Our approach is to enable the agent with enhanced, shareable projects for ease of understanding by the consumer so the right insurance decision is made.

Lifester’s free platform allows you to initiate a Project, state your objectives, find an insurance agent, and share the final project with your own team of family, friends and advisors for online feedback.

Rethink life insurance by starting your own Lifester Project today.