American Family Life Insurance Company and Votaire announce new partnership
Partnership offers unique digital life insurance solution.
American Family Life Insurance Company, one of the nation’s top 50 performing life insurance companies as designated by the Ward Group, is partnering with Votaire, a financial wellness and benefits platform, to offer a new option for purchasing life insurance online via Life Direct.
Life Direct provides online option
Life Direct offers another option for American Family customers and potential customers to obtain life insurance that meets their specific needs. Developed for consumers who prefer the independence and convenience of an online purchase experience, Life Direct offers an application that takes only 13 minutes to complete, on average. With minimal lifestyle and health questions – and no medical exam – Life Direct provides customers just that – a direct and uncomplicated path to life insurance coverage.
Partnership offers digital-first experience
The innovative partnership with Votaire marks a milestone in the insurance/technology industry, as this American Family life insurance solution will be available to participants of Votaire, an employer-provided financial wellness and benefits platform, through a digital-first experience. The approach builds upon the fact that employees view their employers as trusted sources of financial guidance. And because Votaire is tied into employer-level data sources, it will suggest life solutions only for those who need them.
Votaire app identifies gaps and suggests solution
The Votaire app analyzes users’ financial health through a series of questions and identifies gaps in their financial forecasts based on what they have and what they aspire to have. If a gap is identified in life insurance, Life Direct is presented as an option to help fill that gap (see screenshot at bottom of page.)
“It’s not only important to educate consumers about the importance of life insurance protection, but to provide our customers with the purchasing options they want – and for some that means an online preference,” said Rich Steffen, American Family Life Insurance Company president. “This partnership is one of the first of its kind in the life insurance space and allows customers and potential customers to not only identify potential gaps in their life insurance coverage through the Votaire platform, but be directed to Life Direct to easily and conveniently obtain a quote and purchase online if they choose.”
“This joint solution is uniquely situated to influence employee behavior and promote positive financial wellness outcomes,” said Votaire co-founder and CEO Tom Totten. “By positioning American Family’s life insurance solutions within an employer-sponsored program, employees will have both the resources and confidence to close their life insurance gaps. American Family’s trusted brand and innovative thinking makes them the perfect partner for taking our participants beyond guidance, right to the solution.”
Left: Screenshot from Votaire app that suggests to user American Family Insurance to fill life insurance coverage gap.
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About American Family Insurance
Madison, Wisconsin-based American Family Insurance group is the nation's 13th-largest property/casualty insurance group and ranks No. 306 on the Fortune 500 list. The company sells American Family-brand products, including auto, homeowners, life, business and farm/ranch insurance, primarily through its exclusive agents in 19 states. American Family affiliates (The General and Homesite) also provide options for consumers who want to manage their insurance matters directly over the internet or by phone. Affiliate Main Street America sells insurance products through independent agents. Web www.amfam.com; Facebook www.facebook.com/amfam; Twitter www.twitter.com/amfam.
About Votaire, LLC
Votaire is a financial wellness and benefits platform that focuses on educating participants on their financial wellness needs and connecting them to solutions. Votaire is primarily offered through employer groups, which is one of the most trusted sources of financial advice. Participants have been shown to have increased 401(k) deferrals, increase supplemental life benefit elections, and more.