The Tale of MittArv and Its Mission to Safeguard Legacies
A snippet from the captivating movie “PS. I Love You,” based on Cecelia Ahern’s novel, portrays Holly, a grieving wife, receiving a tape from her late husband Gerry on her 30th birthday. The tape reveals that she will receive letters from Gerry at different stages of her life, aiming to offer inspiration and support through life’s trials.
The concept of leaving behind a piece of oneself in the form of audio, visual, or digital assets before passing away inspired the creation of MittArv. Vishal Mehta, the Founder and Director, drew from personal experiences, especially during the challenging times of the COVID-19 pandemic, to establish MittArv.
The tragic loss of a friend from IIM Calcutta, leaving behind a young child, prompted Vishal to contemplate the disorganization of his own assets despite having designated nominees. This realization led to the inception of MittArv, a platform designed to organize and document assets comprehensively, aiming to create a lasting legacy for loved ones.
Vishal envisioned making end-of-life planning more accessible and manageable through MittArv, ensuring that essential information and assets are structured and readily available to beneficiaries.
Normalizing and Promoting End-of-Life Planning
End-of-life planning often carries a stigma, with some individuals shying away from considerations like life insurance and legacy planning. MittArv initially focused on “death tech,” but later shifted its emphasis to legacy creation to destigmatize the conversation around end-of-life preparations.
The startup’s journey involved evolving its narrative based on customer feedback, transitioning from end-of-life planning to legacy planning. By empowering individuals to build their legacies, MittArv encourages everyone to leave behind a positive imprint for their loved ones to cherish.
While traditional succession planning caters more to high net worth individuals, MittArv aims to democratize this process by offering services like asset consolidation, family communication, and templated wills for the middle and upper-middle class.
Through engaging content on platforms like LinkedIn and Facebook, MittArv inspires individuals to consider their legacy-building journey, emphasizing that every person can be a hero in their family’s narrative.
Key Features of the Platform
Established in March 2022, MittArv launched its Android app in August 2023, offering basic features like asset listing, sharing with family, and composing posthumous messages for free. Premium features tailored for NRIs and HNIs will be introduced gradually, enhancing the platform’s offerings.
Users can create emotional wills, list assets, and specify delivery posthumously or when terminally ill. The platform ensures real-time asset delivery and initiates communication with trusted contacts if a user remains inactive for an extended period.
MittArv’s proprietary Customer Lifecycle Identification Algorithm (CLSI) monitors user activity to maintain engagement, emphasizing trust-based communication and collaboration among designated contacts.
The platform prioritizes data security, utilizing encryption and Azure cloud services to safeguard customer information. Revenue generation through a subscription model for premium features is on the horizon, aiming to support comprehensive end-of-life planning and execution.
In essence, MittArv’s technologies aim to immortalize individuals’ legacies, ensuring that their essence perseveres even after their physical presence fades away. Each person’s story contributes uniquely to the tapestry of humanity, and MittArv seeks to preserve these narratives for future generations.