Ladder and Radius Bank partner to make life insurance as easy as online banking
Today we announced an exciting partnership between Ladder and Radius Bank. Life insurance is a critical part of a robust financial plan, and thanks to forward-thinking banks like Radius, it is now accessible to more and more people within the context of their financial lives.
From Wall Street to Main Street, banks have traditionally played an important role in the lives of their customers as trusted advisor on all things finance. With a broad portfolio of products, banks made it easy for people to conveniently manage their financial needs.
Technological advancement in the 21st century fractured this privileged relationship as the digital revolution shifted consumer expectations and upended the competitive field. New, innovative challengers entered the market with competitive products sold through highly efficient online channels. In response, the need for a best-in-class digital experience leapt to the top of retail bankers’ agendas, as rivals started differentiating with online-focused banking, lending and investing product offerings.
Unfortunately, while those experiences have proliferated across the banking industry, insurance has largely been left behind. In the age when customers expect everything to be delivered with the click of a button, banks still recommend life insurance products that require phone consultations with commission-driven agents, lengthy medical examinations and weeks of paperwork.
Until today. Now, Radius Bank customers can calculate their coverage needs, obtain a quote and apply for term life insurance in minutes — all from within their mobile banking app. By introducing quick and flexible life insurance where people are already banking, Radius and Ladder are eliminating friction in the process and fueling the resilience of American families and communities.
We’re passionate about making it easy for people to get the coverage they need wherever they are. That’s why Ladder has developed tools like the Ladder API. If you are helping people manage their finances, benefits, or other types of insurance, contact us. We’d love to explore how we can work together to power a new approach to life insurance.
