LifeSearch has partnered with Trust Genie and Yavia to launch a self-serve life insurance journey with an integrated digital trust solution.
The brokerage aims to place 80% of all life policies into trust to bypass probate and reduce unnecessary tax exposure.
“We are passionate about supporting our customers beyond the sale of a policy, whether that’s through an advised or self-serve journey,” said Debbie Kennedy, CEO of LifeSearch.
“By both educating and supporting all of our customers to put their life insurance into trust, we can help ensure the right money reaches the right people at the right time, avoiding unnecessary delays and tax exposure.”
Customers can access this service via its new app, powered by Yavia’s engagement platform and Trust Genie’s end-to-end trust engine.
“A trust is the starting point, but good outcomes rely on connecting the customer and their adviser with the insurer, and the trustees who may one day need to act.
“We are grateful to the insurers, particularly their trust and legal teams, for the time and expertise they shared, and to LifeSearch for insights in helping us shape such a strong customer experience,” said Neil Glover, chief commercial officer at Trust Genie.
UK life policyholders risk delays in life insurance payouts
Trustees are brought into the ecosystem with clear guidance, digital signing and ongoing support. Completed trusts are automatically submitted using the correct packaging rules to ensure accuracy and auditability.
Joanne Cole, founder of Yavia, added: “Together, we are enabling a modern, intuitive trust journey that delivers better customer outcomes, creating a more educated and engaged customer who understands the importance of their policy.”
In 2023, only 18% of all new life policies were written in trust according to Swiss Re’s life claims report.
It also revealed that 40% of under 45s in the UK live together unmarried – running the risk that a partner wouldn’t automatically receive a payout if the policy wasn’t held in trust.
