PAULA NELSON | Co-Head of Individual Markets, Global Atlantic Financial Group

New insurance technologies and digital tools can help financial professionals integrate insurance into a client’s holistic wealth management plan with ease and transparency. This space is rapidly evolving and transforming how financial professionals conduct business on a daily basis. This evolution brings operational efficiency and simplifies business not only for financial professionals with insurance product expertise, but also for the many other financial professionals who lack adequate knowledge and understanding of how life insurance and annuities can be used to provide a complete wealth management experience. 

By clearly demonstrating the products’ potential within the context of their client’s overall strategy, even less experienced professionals can confidently offer these solutions to their aging clients. These new wealthtech tools can also help professionals comply with regulatory and administrative requirements embedded in the legacy business practices of the industry. We believe that by leveraging existing digital capabilities, as well as supporting the development and standardization of new technologies that are under development today, we can drive innovation in the areas of new product development, user experience, and sales access for life insurance and annuities. 

This paper discusses how technology can make it easier for professionals to incorporate annuities, life insurance. and other insurance-based solutions alongside traditional stock and bond portfolios. The paper also discusses specific technology tools that we believe can make an impact.