LifeSearch Integrates Digital Trust Creation into Self-Serve Life Insurance Journey

LifeSearch, a UK-based protection advice specialist, has launched a pioneering fully digital trust solution integrated into its online self-serve life insurance purchase journey. This innovation allows customers to place life insurance policies directly into trust at the point of purchase, streamlining the process and reducing potential delays and tax implications. LifeSearch aims to increase the placement of life insurance policies into trusts to 80%, addressing a notable market gap where fewer than 20% of UK life policies are currently written in trust, according to a 2023 Swiss Re report. The digital trust solution is developed in partnership with Trust Genie and Yavia, combining advanced AI-driven trust creation technology with a comprehensive engagement platform. Customers benefit from a seamless experience that includes personalized guidance, digital signing, and ongoing trustee support at no additional cost. This integration ensures that policy payouts are directed to intended beneficiaries swiftly, minimizing exposure to intestacy delays and tax inefficiencies. Trust Genie’s technology, already implemented in LifeSearch’s advised client services, supports high completion rates exceeding 90%. It utilizes AI to produce personalized, plain-English summaries and automates submissions with accurate compliance packaging, enhancing transparency and auditability. LifeSearch now extends these capabilities to self-serve customers to improve trust adoption and claims process outcomes. This development aligns with regulatory emphasis on customer protection and efficient claims handling, as highlighted by Consumer Duty frameworks aimed at reducing foreseeable harm. The embedded trust creation supports clearer financial outcomes and quicker settlements, which are critical for beneficiaries' security. By integrating trust setup directly into the online purchase process, LifeSearch sets a precedent in the protection insurance market, exemplifying how technology partnerships can innovate customer experience and operational efficiency. This positions LifeSearch and its partners as frontrunners in digital transformation within the life insurance landscape.