How the industry shed cumbersome legacy processes, adopted digital transactions and grew into a $5 billion market

by Wm. Scott Page

The life settlement industry in 2024 is a testament to evolution and resilience, shaped by decades of change, technological advancements, and recent global events like the pandemic. This article delves into the state of the life settlement industry, focusing on key trends, challenges, and opportunities.

Rediscovering The Value Of In-Person Connections

We returned to the conference circuit in the fall for the first time in several years. This re-engagement highlighted a vital aspect lost in the pandemic – the irreplaceable value of in-person interactions. Networking at conferences provided a platform to reconnect with some of the most dominant life insurance agencies, advisors, and top-producing agents, offering a richer, more nuanced understanding of the industry’s trajectory.

Reflections On Industry Evolution

Reflecting on the industry’s journey, there’s a stark contrast between its early days and the current landscape. Initially, the life settlement industry was a new, complicated field with heavy reliance on physical documentation and slow communication methods like FedEx and phone calls. The cumbersome, paper-intensive process often resulted in lengthy transaction times. However, the industry has vastly transformed today, benefiting from digital advancements and 30 years of market understanding.

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