Today we announced the Breathe Life Advisor-Driven Experience. It’s the back-end, advisor-facing portion of the Breathe Life platform (you may recall we also have aas well). Today’s announcement marks the realization of a holistic, end-to-end solution for insurance carriers and distributors to modernize how personal insurance is bought and sold. As the Chief Product Officer for Breathe Life, I’ve been integrally involved in bringing our vision of a complete digital transformation platform to the market, so it’s also a big day for the product team (thanks all!).
As we’ve discussed on this blog many times, there are several pain points in the traditional insurance buying process, and ultimately the process is at the root of the problem. Today’s consumers aren’t interested in playing by the old rules when buying products and services. For insurance carriers and distributors, this means reaching potential customers on their own terms, whenever and wherever they are. For the team at Breathe Life, this means turning a process-centric experience into a consumer-focused one.
We’ve done this by reimagining the experience of buying insurance from a modern consumer’s point of view and building the Breathe Life platform from the ground up to deliver the best user experience possible. Our customers, the insurance carriers and distributors, need to empower advisors to attract, acquire, retain, and ultimately upsell clients. To this end, the Breathe Life platform offers a number of tools and services that make it easier for advisors to sell and easier for consumers to buy.
To accomplish this, we rely on user-centered design principles. Unlike IT departments at insurance carrier customers, the Breathe Life team has been building consumer-facing products and applications for over two decades. We understand today’s consumer expectations, and we’re bringing all this experience to the insurance industry.
« Let’s face it, people buy insurance because they have to, not because they want to. »
So, eliminating points of friction during the purchase flow is imperative. For advisors, this includes unifying client data from disparate systems, so it carries seamlessly from quote to application to contract, making it easier, faster and more cost-effective to service clients. For consumers, some points of friction include information overload in the form of cluttered interfaces, complex financial concepts and terms, and information related to products that the consumer doesn’t need.
From a design standpoint, the buying experience needs to be simple and straightforward: clean interfaces, educational content, easily actionable, real-time decisions. A few clicks (based on how simple or complex the product offering is) and the consumer is in control of the buying experience…and the advisor has a hot prospect.
By modernizing the buying experience, by making it consumer-focused, insurance distributors can now quickly and cost-effectively reach new customers and increase revenue. And more consumers can get the coverage they need to be financially secure – after all, bringing financial security to people, whoever and wherever they are is the Breathe Life vision.