Author: Daniel Haim

In an industry where agility and speed-to-market are critical, no-code and low-code insurance platforms are putting control back in the hands of life insurance carriers.

For years, the industry has been defined by legacy systems—rigid, costly, and notoriously slow to adapt. According to a Deloitte study on modernizing insurance product development, rolling out a new insurance product can take 12 to 18 months, while modifying existing coverage can take 3 to 6 months. These timelines are simply too slow for modern carriers to remain competitive.

With no-code and low-code insurance platforms, life insurance carriers can finally overcome these barriers, adopting a faster, more efficient approach to meeting market demands. Unlike legacy platforms, low-code and no-code solutions empower carriers to control updates, speed up time to market, and reduce dependency on development-heavy processes.

What Are Low-Code and No-Code Insurance Platforms?

Low-Code Insurance Platforms

Low-code platforms provide carriers with a development environment that uses visual, drag-and-drop elements to create applications and workflows, while still allowing for custom coding when needed. 

With low-code, insurers can automate and streamline tasks, update processes, and introduce new products without relying solely on IT resources. Low-code for insurance combines flexibility and control, empowering carriers to innovate quickly and align their offerings with current market needs.

No-Code Insurance Platforms

No-code platforms, on the other hand, require no programming knowledge at all. They provide an even simpler environment than low-code, allowing business users to create, configure, and deploy using a visual interface. 

For example, with a no-code insurance platform, a business analyst can make real-time changes to policies, adjust application workflows, or update rates independently – without the need for IT support

Together, low-code and no-code solutions represent a paradigm shift for insurance technology, transforming the industry with streamlined processes and agile solutions that allow life insurance carriers to innovate and adapt faster and more cost-effectively.

The Growing Need for Low-Code and No-Code in Insurance

Gartner projects that by 2025, 70% of new applications developed by organizations will use low-code or no-code platforms. This reflects a broader shift toward accessible, efficient solutions that enable faster application development across industries. In fact, the global low-code development platform market is predicted to generate $187 billion in revenue by 2030.

The shift toward low-code and no-code platforms is more than just a trend; it’s a strategic decision that empowers life insurance carriers to innovate and stay competitive. 

Many insurance carriers today still operate with outdated systems that bring familiar challenges:

High Costs and Resource Allocation

Maintaining legacy systems is costly, often consuming 70-80% of IT budgets just to keep systems operational. These expenses leave little room for innovation, meaning carriers are often resource-constrained when trying to launch new products, update products, or streamline processes. Low-code and no-code insurance platforms offer a cost-effective alternative that significantly reduces the cost of getting new products to market or updating rates, questionnaires, or workflows.

Slow Speed-to-Market

Traditional systems hinder carriers’ ability to react swiftly to market demands, with product launches often taking 12 to 18 months and simple updates taking 3 to 6 months. This pace can result in missed opportunities and puts carriers at a competitive disadvantage. Low-code and no-code insurance platforms eliminate bottlenecks, allowing carriers to accelerate product development and respond to market changes faster, for a fraction of the cost.

Limited Control Over Updates

Carriers relying on legacy technology frequently depend on external vendors or IT teams for even minor adjustments, from changing question flows to implementing new compliance requirements. This reliance increases costs and timelines. By adopting low-code/no-code solutions, carriers regain control, enabling quick, cost-effective updates without needing vendor support.

How Low-Code and No-Code Platforms Give Carriers Control

With low-code and no-code insurance platforms, life insurance carriers are no longer bound by traditional, development-intensive systems. Instead, these platforms bring flexibility and adaptability that allow carriers to integrate new capabilities alongside their existing systems, creating a modular, measured approach to transformation rather than a disruptive “rip and replace” overhaul.

1. Faster Product Development and Agility

Low-code and no-code insurance platforms enable life insurance carriers to launch new products faster, respond to advisor feedback, and adapt to customer needs with minimal delay. This agility allows carriers to innovate faster and better meet the expectations of today’s consumers.

2. Better Advisor Feedback Loops

Carriers can respond to advisor feedback much faster. With low-code/no-code, updates—like customizing a questionnaire or adjusting an application flow—can be made within days. This agile feedback loop supports advisors, improves the customer journey, and gives carriers a competitive edge by providing a better end-user experience.

3. Incremental, Modular Transformation

Carriers don’t need to overhaul their systems all at once. No-code and low-code insurance platforms offer a modular, incremental approach, allowing carriers to introduce new capabilities piece by piece. This approach reduces risk and cost while enabling targeted innovation where it’s most needed.

4. Cost-Effective, Scalable Solutions

No-code/low-code insurance platforms typically use a SaaS-based model, meaning carriers can benefit from predictable, manageable costs. Maintenance, security, and compliance are built into these platforms, so carriers don’t have to allocate extra resources for these essential functions. Additionally, these platforms are scalable, enabling carriers to expand features and functionalities in step with business growth.

Embracing Low-Code/No-Code Platforms

As life insurance carriers face mounting pressure to modernize, low-code and no-code platforms offer a viable path forward. These platforms provide the agility to quickly introduce new products, streamline processes, and deliver improved customer experiences—all while minimizing reliance on traditional IT support. 

Lavvi’s platform is purpose-built to give life insurance carriers the control, agility, and scalability they need in a rapidly changing market:

• Industry-Leading Configurability: Quickly launch new products or make updates without IT support. Lavvi empowers carriers to adjust product details, questionnaires, and rates in near real-time.
• 90-Day Implementation: Lavvi’s streamlined setup enables carriers to go live in as little as 90 days—accelerating time-to-market and maximizing market opportunities.
• Modular and Scalable: Lavvi’s platform is designed to enable carriers to invest in what they need today and scale seamlessly as their distribution strategy evolves.

Ready to Take Control?

For carriers ready to supercharge their distribution strategy, Lavvi is here to help you stay agile, reduce costs, and respond to market demands with speed and precision.

Learn more about our platform here.

By: Ray Adamson, Chief Customer Officer at Lavvi

When my dad entered the life insurance industry in the 1950s, the captive agent model was the norm. It was a face-to-face business, with agents building personal relationships, sitting down with clients, and working through policy details at kitchen tables.

How times have changed.

The industry has seen massive shifts since that era. The rise of digital tools, changing consumer behavior, and most significantly, the impact of the pandemic have accelerated digitalization in the industry. 

What we’re seeing now is an unprecedented evolution in life insurance distribution channels, at a rate faster than any in the history of the industry. 

For life insurance carriers, the future isn’t just about the move toward omni-channel strategies – it’s also about streamlining operations at the carrier level, sales enablement, and meeting changing customer expectations.

The Evolution of Distribution

The career agent model dominated the life insurance industry for most of its history, and agents were the face of the business. They built trust through personal connections, meeting clients at kitchen tables to walk through policy options. However, the model came with its limitations, with high costs and low retention rates.

As the industry evolved, so did life insurance distribution channels, shifting away from the career agent model toward independent advisors and distributors. This offered more flexibility, allowing advisors to work with multiple carriers instead of being tied to one. The distributor model provided a way for advisors to access a wider range of products and cater to diverse client needs.

By the time I got licensed as an advisor in the early 1990s, this model was the norm. Technology was also beginning to make its mark. Advisors started using early CRM systems and digital tools like illustration software, which made client interactions more efficient and streamlined. From 2000 to 2007, I coached hundreds of advisors across North America, focusing on how they could leverage these tools to be more efficient, save time, and still maintain that essential personal connection with clients.

But despite these technological advancements, the industry’s pace of change remained slow. By the 2010s, many carriers had started to look at eApps and digital platforms, but adoption was slow (I don’t think I used an eApp until the late 2010s). Advisors were cautious, and carriers were still figuring out how to integrate these new tools effectively. 

The Catalyst for Change: COVID-19

Then, the COVID-19 pandemic hit, acting as a massive catalyst for change. Almost overnight, life insurance carriers had to adapt to a digital-first environment. Face-to-face meetings and physical paperwork became impractical, and the industry had no choice but to accelerate its digital transformation plans. 

Carriers who had been hesitant were now investing heavily in technology—digital distribution platforms, e-signatures, automated underwriting, and more sophisticated CRM systems—to ensure they could sell more policies, meet customer needs, and keep advisors enabled and confident.

This shift was necessary, but it wasn’t without its challenges. The urgency to adapt led carriers to implement systems quickly, sometimes with less-than-ideal outcomes: custom systems that are resource-intensive to maintain; disparate systems that don’t integrate well; separate eApps for different product lines.

But now that the dust has settled, carriers have the opportunity to re-evaluate and look at distribution more thoughtfully. 

Navigating the Future of Life Insurance Distribution

When I’m out there talking to carriers, advisors, and industry folks, one thing comes up again and again—companies that will win going forward are the ones that take the lessons from the pandemic and use them strategically. The days of being reactive are behind us; now, it’s about being proactive.

For carriers, the path towards finding greater success in their life insurance distribution channel strategy involves balancing three critical areas:

1. Operational Efficiencies that Give You an Edge

To stay competitive, carriers need to move quickly and adapt with ease. Whether it’s launching a new product or updating rates, the ability to make these changes without being slowed down by IT bottlenecks is a real game-changer. Carriers who use technology as an enabler to streamline their operations and reduce inefficiencies are setting themselves up to win.

At Lavvi, we enable digital distribution in as little as 90 days. With our industry-leading admin configurability, we put the keys back in your hands. You can control your speed to market, launching new products, updating existing ones, and making adjustments—all without the need for IT support.

2. Meeting Customers Where They Are—Across Channels

Or in industry jargon, omni-channel distribution.

Life insurance isn’t a one-size-fits-all business anymore. People want options—they might start their research online, talk to an advisor, and then complete their application digitally. In fact, LIMRA found that nearly half of Gen Z and Millennials expect to blend online research with working alongside a professional. And while direct-to-consumer sales are growing, they’re still a small part of the market. According to CHLIA, 83% of life insurance is still purchased through advisors.

It’s all about finding that balance—offering digital life insurance distribution channels for those who want convenience but also ensuring customers have access to the reassurance and expertise of an advisor when they need it.

With Lavvi, carriers can support a true omnichannel experience, meeting customers where they are, whether sales are advisor-led, consumer-driven, or a hybrid of both. Our platform seamlessly integrates these approaches, helping you deliver a consistent and valuable customer experience.

3. Adapting to Changing Customer Expectations

Today’s customers expect a seamless, personalized experience. They want the ability to engage across channels in a way that feels consistent and intuitive. Whether it’s via an app, a call with an advisor, or face-to-face, it’s about meeting them where they are and offering proactive, tailored engagement that makes them feel valued and understood.

By focusing on these three areas, carriers can not only keep up with the rapid changes in the industry but also set themselves up for long-term success.

What the Future Holds

Life insurance carriers must not only adapt to the changes accelerated by the pandemic but also take a proactive and strategic approach to future-proof their operations. By balancing operational efficiency, evolving their life insurance distribution channel strategy, and adapting to customer expectations, carriers can thrive.

Lavvi is at the forefront of this transformation, providing a digital distribution platform that supports quick implementation, configurability for self-sustaining management, and tools that build confidence for both advisors and consumers.

To learn more about Lavvi and see our platform in action, book a demo or get in touch with us here.

Digitalization in life insurance distribution has moved beyond buzzword territory – it’s a cornerstone of innovation and growth.

For carriers, digital distribution channels offer a powerful way to extend reach and increase policy sales, gain efficiency, and meet rising consumer expectations for convenience and flexibility. This trend has only intensified post-pandemic, as consumer behaviors have leaned heavily toward digital interactions and carriers have put growth front-and-center as a major priority.

But, how does this actually play out in practice? We’re glad you asked. 

In this article, we’ll walk you through the real-life success story of Assumption Life, a Canadian mutual life insurer and Lavvi partner. Assumption Life has successfully modernized its approach to distribution, demonstrating how digitalization in life insurance can empower carriers to accelerate growth while meeting the evolving needs of customers. 

Here’s what we’ll talk about:

1. Understanding digitalization in life insurance distribution
2. Assumption Life’s path to success
3. Key learnings for carriers

Let’s dive in.

What is Digitalization in Life Insurance Distribution?

Digitalization in life insurance distribution refers to using digital channels and tools to sell policies more effectively, creating a streamlined experience for advisors, consumers, and carriers alike. This approach includes various models such as advisor-led, direct-to-consumer (D2C), and hybrid sales, each catering to distinct consumer needs and preferences.

In the current environment, digital distribution in life insurance is no longer just an option but an essential strategy for carriers aiming to capture market share and increase sales. Broader reach, quicker policy issuance, and supporting advisors with the tools they need to engage and sell more effectively are all benefits that come with digital distribution. 

Additionally, digitalization allows consumers to explore, compare, and purchase policies online. This shift meets growing demand for accessible, easy-to-navigate insurance options, where consumers have the flexibility to engage on their terms.

The pandemic accelerated the adoption of digitalization across many sectors, and life insurance was no exception. Carriers were forced to adapt rapidly. Digital distribution channels emerged as vital pathways for growth, allowing insurers to continue reaching consumers despite physical constraints and shifting consumer expectations. 

Going forward, digital distribution will remain a central focus for the industry, as more carriers recognize the necessity of offering fast, flexible, and reliable digital experiences to consumers.

Assumption Life: A Digital Distribution Success Story

Assumption Life serves as a powerful example of how carriers can pursue life insurance digitalization to expand reach, improve efficiency, and increase policy sales. 

With over 120 years in the life insurance business, Assumption Life recognized the need to modernize its approach to meet evolving customer expectations and expand into new markets.

So in 2003, the company took its first major step toward digitalization in life insurance by introducing e-apps. This move enabled partners and advisors to streamline the application process and connect with a broader audience outside the Atlantic Canada region. 

Assumption Life chose to focus on simplified, quick-issue products that aligned well with digital channels, such as policies designed for family-oriented, mid-market needs like final expense and mortgage protection. This digital-first approach allowed Assumption Life to reach a larger market with products that required minimal underwriting, establishing the company as an accessible choice for Canadians.

Expanding Digital Distribution Through Strategic Partnerships

Assumption Life partnered with Lavvi to further expand its digital distribution capabilities. With Lavvi’s support, the company launched Life Insurance Anywhere (LIA) in 2013, a platform that allowed advisors to engage clients wherever they were. This increased flexibility was vital for extending its distribution reach across Canada.

Assumption Life continued to focus on digitalization by transitioning to an API-driven system, which enabled seamless integration with distribution partners and direct-to-consumer (D2C) channels. Lavvi’s technology helped bring to life Assumption Life’s Marketplace Solution in 2019, allowing partners to create D2C websites where consumers could independently explore, apply for, and purchase life insurance.

Key Results for Assumption Life

Assumption Life’s focus on leveraging digitalization in life insurance distribution has yielded substantial results.

1. Expanded National Reach: By moving beyond its traditional Atlantic Canada market and embracing digital distribution, Assumption Life now serves clients nationwide, reaching both urban and rural areas without the need for a physical presence.
   
2. Higher Efficiency with Quick-Issue Products: The focus on simple, digital-ready policies enabled faster approvals, minimal underwriting, and reduced processing times. This approach increased advisor productivity while providing a streamlined experience for clients.
   
3. Stronger Partnerships through API Integration: By adopting an API-driven system, Assumption Life has been able to work with more distribution partners and seamlessly integrate its technology, fostering stronger relationships and expanding access to a more diverse consumer base.
   
4. Increased Direct-to-Consumer Sales: The Marketplace Solution empowered distribution partners to create customized D2C websites, allowing consumers to independently browse, apply for, and buy policies online, driving growth in D2C channels.

Learn more about Assumption Life’s success story. View the Case Study.

Key Learnings For Life Insurance Carriers

Digital transformation can often be a buzzword with minimal tangible results, but Assumption Life’s story offers valuable insights for other carriers aiming to evolve their digital distribution strategies. 

Here are key takeaways from its journey:

Strategic Planning & Change Management Are Essential

Careful planning and training were crucial in ensuring a smooth transition to digital distribution. Assumption Life’s deliberate rollout of new tools and platforms minimized disruption by aligning stakeholders and preparing advisors to adopt digital solutions confidently. 

For carriers, a focus on change management is essential in maintaining productivity and trust as they navigate digitalization. 

Focus on Core Strengths in Distribution

Assumption Life focused first on products, like quick-issue policies, that were easily digital-ready. 

Other carriers can benefit by honing in on their most adaptable product offerings, aligning them with digital channels to increase speed to market and scale in the future.

Adopt an API-Driven Framework for Flexibility

Assumption Life’s API-driven system allowed for seamless integrations with distribution partners and direct-to-consumer channels, creating flexibility without requiring extensive infrastructure changes. 

For carriers, this adaptability is key to supporting an omni-channel distribution model and ensuring that new systems can integrate smoothly with existing tech stacks.

Engage in Strategic Partnerships

Rather than building all digital distribution capabilities in-house, Assumption Life’s partnership with Lavvi equipped them with the tools needed to effectively support both advisor-led and consumer-driven sales. 

Collaborating with technology partners can improve a carrier’s ability to innovate and focus on core strengths, allowing faster, more cost-efficient adoption of digital tools.

Recommended Reading – Building A Partnership Distribution Strategy: A Comprehensive Guide for Life Insurance Carriers.

Conclusion

Assumption Life’s journey into digitalization in life insurance distribution is a testament to the power of a focused, strategic approach. By prioritizing simple, digital-ready products, leveraging an API-driven system, and collaborating with a trusted technology partner, Assumption Life has successfully transformed its distribution model to reach a national audience while offering a seamless experience for advisors and consumers alike.

To learn more about Assumption Life’s story, check out the Case Study here.

This post is part of Lavvi’s Partnership Distribution Guide, a comprehensive resource for life insurance carriers looking to expand their distribution reach through strategic partnerships. Get the full guide here.

For carriers, success in today’s evolving market depends heavily on forming the right life insurance distribution partnerships. 

These partnerships can help carriers extend their reach, tap into new markets, and accelerate growth. However, to truly benefit from these collaborations, it’s essential to start with well-defined goals, clear objectives, and measurable success metrics. 

In this article, we explore how life insurance carriers can build a robust distribution strategy by aligning partnerships with broader business goals and tracking success through the right key performance indicators.

What is a Distribution Partner in Insurance?

Seems like a basic question, we know. 

But a holistic distribution strategy can involve a variety of life insurance distribution channels and a wide array of partners, from distributors, to modern digital distribution platforms, to back office vendors and beyond. These partnerships not only broaden market reach but also provide new ways to deliver products faster and meet evolving customer needs.

Life Insurance Distribution Partnership Examples

• Distributors: These are often the first partners that come to mind, acting as intermediaries between carriers and brokers or advisors. They play a critical role in expanding market reach and driving policy sales.
• Digital Distribution Partners: Companies like Lavvi offer carriers a way to accelerate digital distribution, reaching new customers through digital platforms, improving operational efficiency, and enabling true omnichannel sales capabilities.
• Third-Party Administrators: These partners manage various operational aspects, such as claims processing or customer support, allowing carriers to focus on growth while maintaining operational excellence.
• Back-Office Vendors: These vendors help carriers manage back-office systems, ensuring that distribution operations run smoothly and efficiently.

By considering a broad range of partnership types, carriers can create a more comprehensive and flexible distribution strategy that adapts to market changes and leverages new opportunities.

Defining Objectives and Setting Measurable Goals 

Laying the foundation for a successful distribution strategy starts with identifying clear objectives and goals.

Before setting specific, measurable goals, life insurance carriers need to establish high-level objectives for their distribution partnerships. These objectives can be overarching and strategic, guiding your partnerships to meet the broader goals of your organization.

High-Level Objectives May Include:

• Expanding Geographical Reach: Identify new markets or regions to enter.
• Diversifying Product Portfolio: Introduce new products or enhance existing offerings.
• Increasing Market Share: Grow your customer base by leveraging the networks of distribution partners.
• Strengthening Existing Partnerships: Deepen collaborations to maximize value.
• Improving Speed to Market: Reduce the time it takes to launch new products or update existing products.

With these objectives in mind, carriers can then translate them into measurable goals. These goals should be quantifiable, allowing you to track progress and adjust as necessary.

Examples of Measurable Goals Include:

• Revenue Growth: Set a specific target for revenue increases tied to the partnership.
• Market Expansion: Define how many new customers or regions you aim to penetrate.
• Time to Market: Establish a target to reduce the time it takes to bring new products to market by a certain percentage.
• Faster Policy Issuance: Establish a benchmark to reduce the time to issue policies.
• Customer Acquisition: Set goals for the number of new customers gained through each partnership.
• Policy Sales: Aim for a specific number of new policies sold through each partner over a given period.

Keep in mind, while it’s important to have detailed, specific goals, distribution strategies can and should evolve over time. Aim to refine objectives and goals as you learn from your partnerships and the market.

By setting clear financial and operational targets that directly support your objectives, carriers can be well-prepared to successfully navigate the journey of building an effective partner distribution strategy.

Measuring Success: KPIs for Distribution Partnerships

Once objectives and goals are established, tracking the success of your distribution partnerships requires clear Key Performance Indicators (KPIs). These metrics provide quantitative insight into how well your partnerships are performing relative to your goals.

For life insurance carriers, some key KPIs to track to understand the success of their distributions partnerships may include:

• Number of Policies Sold
• Revenue Generated
• Cost per Sale
• Customer Acquisition & Retention Rates
• Net Promoter Score (NPS)

Each of these KPIs should be directly linked to the goals you’ve set. 

For example, if your goal is to improve operational efficiency, you may focus more on metrics like time to market for new products, cost per sale, or time to issue a policy. 

Achieving long-term success in distribution partnerships requires continuously monitoring and adapting based on what the data tells you. As market conditions evolve or new insights emerge, you should reassess your KPIs and adjust your strategy accordingly. 

By keeping a close eye on performance and being willing to make adjustments, carriers can stay agile and ensure that their distribution partnerships continue to drive value over time. Continuous improvement should be a central component of your overall strategy, ensuring that you’re not only meeting your current goals but also positioning your business for future growth.

Conclusion

Establishing successful life insurance distribution partnerships requires more than simply choosing the right partners—it involves aligning partnerships with your broader business objectives, setting measurable goals, and continuously tracking success through key performance indicators. By considering a diverse range of partners, from traditional distributors to InsurTechs, life insurance carriers can expand their reach, improve operational efficiency, and stay competitive in an evolving market. For more insights and a step-by-step roadmap to building a robust distribution partner strategy, check out Lavvi’s Guide to Building a Partnership Distribution Strategy.