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AasaanWill offers legally valid wills at affordable pricing
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![AasaanWill offers legally valid wills at affordable pricing AasaanWill offers legally valid wills at affordable pricing](https://assets.thehansindia.com/h-upload/2024/07/19/1463651-tie.webp)
- The AI-driven tech platform comprising in-house lawyers drafts customised Wills within 24 hours
- WTC Shamshabad & Visakhapatnam- TiE Hyderabad startup series
AasaanWill, a product of AssetVault, is an online platform that helps Indians across the world create legally valid wills. With India expecting its largest generational wealth transfer over the next two decades, a last will and Testament ensures smooth asset transfer. With the current offline process being complicated, AasaanWill leverages technology to let users list assets, name beneficiaries, and specify distribution preferences from the comfort of their home. This information is converted into a legally binding will, which AasaanWill helps register with the government to prevent future legal issues. Vishnu Chundi, Co-Founder and CEO, Assetvault, speaks to The Hans India about his will writing platform that has customers across 55 cities and five continents. AasaanWill is backed by notable investors including Tim Draper, the Times Group, Techstars, T-Hub, and BITS Pilani Shark Tank. The startup has established over 40 distribution partnerships with financial institutions and corporations
What inspired the name ‘AasaanWill’ and how does it reflect the company’s mission and vision?
With over $60 billion in unclaimed wealth and over 10 million property dispute cases, India faces a succession planning crisis. Two main issues are the lack of awareness and the fragmented, expensive will-making process. Hence, the name AasaanWill, which translates to easywill signifying our commitment to make the process of passing on the wealth that one has worked so hard to build throughout their lifetime to their beneficiaries as per their wishes as Aasaan as possible. This name helps us define our mission with clarity. The first way is to make education around succession planning, an important aspect of financial planning, as accessible as possible without the need for everyone to know experts. The second is to standardize the will making journey across India so that it is as easy and straightforward for a person to make their will in Punjab as it is in Kerala, while incorporating the nuances of different cities in place. With India going to witness its largest intergenerational wealth transfer in the next couple of decades, AasaanWill’s vision is to ensure that no wealth is trapped between generations due to lack of knowledge and access to succession planning.
In what ways is AasaanWill leveraging technology to enhance the security and efficiency of asset management?
The traditional will-writing process is offline and fragmented. AasaanWill brings this process online allowing users to input all the necessary information to write a will from their home. Covering over 20 asset classes, from immovable assets to digital currency, our platform guides users from asset collection to distribution, supported by our in-house legal team. This digital approach streamlines the process, making it more efficient and secure. All of this data is then double encrypted through our servers and only accessible to the lawyer in charge of drafting the will of that particular customer. No one else within the team, not even the CEO has access to that data thus maintaining lawyer-client confidentiality.
Can you discuss the key partnerships that have been instrumental in AasaanWill’s growth and success?
We have partnered with over 40 companies in India and abroad. Notable partners include financial institutions like IDFC Bank, large MNCs using AasaanWill as an employee benefit, and fintech startups offering our services to their customers. Few of the key partners are IDFC, Times Group, BITSAA, Art of Living and so on. Our charity partnerships have raised over $14 million, and we facilitate organ donation through collaborations with entities like Mohan Foundation.
What are the standout features of AasaanWill’s digital will-writing service, and how do they address the needs of modern users?
AasaanWill’s digital will-writing service caters to modern users by combining digital and offline aspects, ensuring convenience, security, and personalisation.
User-Friendly Online Platform: Our platform offers a seamless, step-by-step process for drafting a Will online, accessible to all ages and technical abilities, allowing users to create a legally sound will from home.
Unique Features: Users can donate a percentage or a specific amount of their wealth to their favourite charity and pledge their organs through their will, ensuring their wishes are honoured.
Expert Legal Support: We provide expert legal support throughout the will-writing process, addressing specific needs and offering free updates for the first year for added flexibility.
Security and Privacy: AasaanWill uses encryption to protect users’ data, ensuring personal and financial details remain confidential and secure.
Registration and Legal Validity: Our platform includes registration services for legal protection and authenticity, preventing disputes and ensuring the document is legally recognised. At a minimum, we notarize the will to add a layer of authenticity.
Affordable Pricing: We offer transparent and affordable pricing plans, with a one-time cost for drafting and notarization or registration.
By addressing security, legal validity, user-friendliness, and affordability, AasaanWill effectively meets the needs of modern users seeking a reliable and efficient way to manage their estate planning digitally.
What are your key priorities for AasaanWill over the next three to five years, and how do you plan to address them?
Over the next five years, our priorities focus on advancing our vision through strategic initiatives -- Building Strategic Partnerships, Expanding Service Offerings, and Legal and Financial Institutions: Partner with legal firms, banks, and financial advisors to integrate AasaanWill’s services into broader financial planning packages.
Corporate Partnerships: Collaborate with corporations to offer will-writing services as part of employee benefit programmes, boosting brand visibility and trust.
Educational Initiatives: Raise awareness about succession planning and the ease of using AasaanWill’s services.
Comprehensive Estate Planning: Introduce services like trust creation, asset management, and power of attorney documents.
Geographic Depth: Expand our reach deeper into cities and across all states, cities, and provinces. We already served customers in more than 55 cities and five continents.
Product: Continuously enhance our platform to simplify will-writing and provide quick, seamless answers to users’ questions. Our team is dedicated to making the process as user-friendly as possible.
How do you foresee the integration of emerging technologies like AI and blockchain in AasaanWill’s future offerings?
We have a product roadmap in place and being currently worked upon as we speak that heavily revolves around including AI into our product. AI will provide personalised recommendations, intelligent document drafting, and automated compliance checks. AI-driven chatbots and predictive analytics will improve customer support. Blockchain will ensure security and transparency with immutable records, smart contracts, and decentralized storage. Future offerings will include AI-driven estate planning tools and a blockchain-based will registry.
Can you share an example of a technological innovation at AasaanWill that has significantly improved user experience?
While we are very proud of our current product offering to consumers, one key innovation is our tech platform for our inhouse lawyers, allowing them to draft customized wills within 24 hours. This drastically reduces the time from the traditional three to seven days, enhancing efficiency and user satisfaction.
How has participating in accelerator programmes like TechStars and other ecosystem support influenced the strategic direction of AasaanWill especially with that of TiE Hyderabad?
Techstars provided capital and guidance for market entry and product-market fit. T-Hub’s Lab32 programme helped us understand growth drivers and introduced us to mentors in various domains, leading to a pan-India print campaign. Winning Tim Draper’s Shark Tank show connected us with partners in India. TiE Hyderabad helped us engage with tech and financial firms, offering AasaanWill as an employee benefit.
Can you share your personal journey from your early life to becoming the CEO of AasaanWill?
I was born and raised in Hyderabad. After excelling at Hyderabad Public School, I pursued Engineering and Physics at BITS Pilani, spending a year at the University of Geneva, where I was introduced to quantum computing and tech entrepreneurship. To understand business better, I joined Bain and Co, advising blue-chip companies. I then pursued an MPhil in Nanotechnology at Cambridge, driven by my love for physics. Joining a fintech unicorn as an early employee, I learned about startups. With this experience, AssetVault was launched in the first year of my MBA and we entered the Indian market soon after with our product tailored for the Indian market - AasaanWill.
(World Trade Center Shamshabad& Visakhapatnam have joined hands with TiE Hyderabad to start a new startup series wherein prominent entrepreneurs will be featured. This is the 4th interview under the series)
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