Written by: Derek N.H. Notman, CFP®
And how to fix it before your future clients swipe left
We’ve digitized everything: takeout, dating, tax prep. But try shopping for life insurance or finding a financial advisor? Suddenly it’s 2003, and your personal info is being passed around like one of those old AOL trial CDs.
For industries that sell security and trust, the irony is painful.
Let’s be clear: this is no longer just a UX issue. It’s a trust crisis. There's and entire generation of customers that expect a hyper-personalized, digitally enhanced experience that feels good. I think it's safe to safe that the writing is on the digital wall and if insurance, wealth management, and fintech firms don’t embrace the new customer experience demands, they’re going to lose this entire generation of customers to companies that do.
Step 1: Fill Out a Form. Step 2: Regret Everything.
You fill out one online quote or contact form. Just one.
Next thing you know:
- Your phone sounds like a robocall drumline
- Your inbox needs triage
- You’re reconsidering whether the quote, product, or professional advice you wanted is worth the emotional trauma
This isn’t just a bad experience. It’s a breach of trust. Because when a company says it wants to help, but what it does is sell your info to multiple advisors... people remember.
Trust researcher Roy Lewicki would call this a failure of predictability and safety—two foundations of how trust is built and lost over time.
If this is step one for most people who are looking for a product or financial advice, it's no wonder lead conversions for most companies and tech solutions are so low.
Digital, But Not Delightful
The J.D. Power data says the quiet part out loud: many digital insurance experiences still underdeliver. Repetitive forms, vague processes, no transparency. It’s not “self-service”—it’s “serve yourself and hope it works out.”
And when it comes to data handling? Gulp. Just 24% of global consumers trust insurers with their personal information.
Here's the truth: if your digital flow doesn’t feel safe, clear, and human—it’s not earning trust. It’s eroding it.
Wealth Management: Same Suit, Different Mess
In wealth management, the trust leaks are even more personal. A 2024 survey found that 75% of clients either fired or considered firing their advisor last year (YCharts Survey).
Top reasons?
- Poor communication
- Lack of personalization
- Confusing tools that feel stuck in the ‘90s
When your first interaction with a “trusted advisor” is filling out a form and getting bombarded…is it really that surprising people are walking?
The Bumble Effect: Let Customers Make the First Move
Bumble flipped dating by letting women initiate the conversation—and built a billion-dollar company doing it. We've taken this to heart at Couplr AI.
Financial services could learn something here.
If someone’s just browsing, let them browse. Don't blow up their inbox or trigger an emergency phone mute. Let them opt in when they’re ready. Enough people are ready to buy at any given time that we don't need to rely on old school pressure tactics.
Trust isn’t built through pressure. It’s built through small, voluntary steps that feel safe, fair, and optional
Spam, Lawsuits & The Legal Thermostat
This isn’t just bad vibes—it’s becoming a legal liability:
- A Notable Life Insurance Company is being sued for robocalls to people on the Do Not Call list
- The FCC hit robocallers with a record $300M fine in 2023
- 19 U.S. states now have privacy laws letting consumers opt out of data sharing
Bottom line: if your sales tactics would make your mom suspicious, regulators are probably already looking.
Some Are Doing It Right
Not everyone’s behind the curve. The forward-thinkers are:
- Offering anonymous quoting
- Not selling contact info
- Investing in clean mobile-first platforms
- Giving users control over how and when they’re contacted
There are new life apps that cut down repetitive questions and unnecessary data entry. Nationally known firms are personalizing communication and proactively adapting to client preferences, relying more on data insights to enhance the client experience.
Some fintech companies in the past couple of years have really focused on cleaning up the user experience for the Advisor AND Client, realizing that how the tech feels is just as import as what it does.
This isn’t just smart UX. It’s textbook transformational trust-building: repeated, predictable, value-aligned interactions that increase confidence over time.
So What Should You Actually Do?
If you're in insurance, wealth management, or fintech, here’s some tips I think worth considering:
1. Respect the Explorers
Let people browse anonymously. Don't ask for data until you've earned it.
Trust starts with low-stakes interactions. Let people feel safe before they commit.
2. Be Predictable, Not Robotic
Set expectations. Communicate clearly. Don’t bait and switch.
Predictability is one of the fastest paths to trust.
3. Design for Consent, Not Conversion
Let users opt in. Let them pick how (or if) you follow up. You increase consent, you increase conversions.
When people feel in control, they engage more—not less.
4. Invest in Frictionless Functionality
Build tools that don’t frustrate. Fast. Intuitive. Mobile-first.
Friction kills trust faster than bad pricing.
5. Educate, Don’t Just Sell
Lead with value. Teach first. Guide second. Offer third.
Trust deepens when people feel seen and understood, not targeted.
6. Follow Up Like a Human
No bots. No templates. No hard closes. Just help.
Trust is emotional. Tone matters.
7. Fix Your Follow-Up Culture
If someone doesn’t respond, don’t keep calling from different numbers. It’s not a chase scene. Funny side story, I am guilty of this tactic from my early life insurance days....it worked sometimes but took part of your soul in the process.
Trust and distrust can coexist. Don’t feed the distrust side.
Final Word: Trust Is the Real Growth Hack
You don’t build trust by calling fast. You build it by showing up consistently, communicating clearly, and letting people feel like they’re in control.
As Lewicki’s research shows, trust develops through consistent, transparent, low-pressure exchanges over time—not one clever funnel or one killer subject line.
My final suggestion....if you are in a position to do something about the client experience then lean into it and look for ways to help the customer. Data is your friend. Get your own data, partner with companies that are gathering data you don't have. Use tech solutions that leverage data and focus on amazing experiences. Great things will happen when you do.
Let's keep building...for Pete's (or any customers) sake!
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