LifeBid Launch Nears

LifeBid founder, Brett Wright, used his presentation at the 2025 Bombora Advice Conference in Hobart to outline the technology firm’s imminent rollout of its end-to-end risk advice and policy servicing platform.

In emphasising major efficiency gains for advisers and deeper data connectivity across the life insurance sector, Wright outlined to his audience of advisers the three priorities on which LifeBid has focused its development:

• Policy servicing and retention
• Renewals, reviews and alterations
• New business workflow automation

He noted advisers spend most of their time managing existing clients, and that delivering unified, accurate policy data from insurers has been the core foundation of the platform.

Wright said the company has spent several years working with insurers to standardise data from legacy policy administration systems – an effort he described as complex but essential to enabling high automation. “Straight out of the box, policy servicing and retention will save one to two hours per client per year,” he told the audience.

…advisers will be able to …produce a revised record of advice in around 10 minutes

LifeBid’s second priority – renewals, reviews and alterations – builds on that same dataset. Wright said advisers will be able to generate review packs instantly, request alteration quotes directly from insurers, and produce a revised record of advice “…in around 10 minutes,” reducing a traditionally manual, multi-hour process.

The third priority is LifeBid’s new business workflow, covering education and scoping, fact-finding, pre-assessments, needs analysis, projections, advice documents and application management. Wright said the target is to cut the end-to-end new business advice process from 10–15 hours down to 90 minutes or less for the average client.

He also highlighted the broader industry infrastructure underpinning the platform: a multi-layer data standard spanning insurers, licensees, advisers, consumers and third-party referrers. This framework is intended to enable data to flow into and out of other systems, supporting holistic advice practices.

LifeBid …expects to be ready to go live with its minimum viable product …by the end of 2025

Wright told his audience LifeBid has completed integration work with TAL, Zurich and Acenda, and following final testing expects to be ready to go live with its minimum viable product – policy servicing and retention – by the end of 2025. LifeBid’s shareholders will be first to access the system along with licensee partners, then followed by the wider market.

Positioning LifeBid as “industry-owned and industry-led,” Wright said the platform aims to help address advice sustainability challenges by reducing cost-to-serve and increasing adviser capacity:

“Our mission is to deliver a solution for the industry, by the industry, delivering significant efficiencies and value for advice practices and licensees at a fair and sustainable price,” he said.