Summary:

In this 84th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Jamie Hale, Co-Founder and CEO at Ladder Life. Ladder Life is speeding up the often time-intensive life insurance process for customers to around 8 minutes, offering coverage from $100k to $8 million. Jamie shares exactly how Ladder Life life insurance is addressing pain points in the industry to the benefit of consumers, how they are handling underwriting, their investor distribution channel, and selling to the workplace space. 

Episode Highlights: 

● 00:13: – Jamie Hale defines Ladder Life. 

● 01:11: – What was the reason Jamie started Ladder Life? 

● 03:09: – How is Ladder Life able to approve life insurance in 8 minutes? 

● 05:38: – How hard was it to get carriers to work with them? 

● 06:29: – How are they tackling the underwriting differently? 

● 08:54: – In what way is the confirmation for policies done digitally? 

● 09:53: – How should customers go about reducing coverage? 

● 10:30: – Have they done many integrations to date? 

● 11:26: – How does their investor distribution channel work? 

● 13:02: – Jamie Hale discusses how Ladder Life sells to the workplace space. 

● 14:38: – Is Ladder Life planning to expand to any other forms of insurance? 

● 15:51: – How does Ladder ensure that they are competitive with price competition? 

● 17:17: – What would Jamie change in his business or his industry? 

● 18:16: – What has been the biggest challenge in his business? 

● 19:56: – What is the most exciting thing Jamie Hale is working on? 

3 Key Points 

1. Ladder Life does all the life insurance underwriting in the background in real-time to give an instant decision. 

2. Life insurance needs of customers aren’t static. They change over time. 

3. Ladder doesn’t currently show competitor prices. 

Tweetable Quotes: 

● “We are trying to reengineer the life insurance-buying process.” – Jamie Hale 

● “People can go to LadderLife.com, figure out what life insurance they need. Go through the application process. Get an instant decision and be done in about 8 minutes.” – Jamie Hale 

● “Ladder’s mission is that we believe we’re helping fund the resiliency of families and communities by helping close the coverage gap.” – Jamie Hale 

Resources Mentioned: 

● Facebook – Jason Pereira’s 

● LinkedIn – Jason Pereira’s 

● FintechImpact.co – Website 

● Linkedin –Jamie Hale 

● ladderlife.com – Website

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