Mitt Arv: Crafting Legacies for Tomorrow – An Interview with the Founder

CXOToday has engaged in an exclusive interview with Mr. Vishal Mehta, Founder & Director – Mitt Arv

1.    As this is a very niche concept, can you please tell us about an idea behind its inception?

When my classmate tragically passed away during the COVID-19 Delta wave, he left behind a two-year-old daughter. At that time, my own son was merely six months old, and it was a moment that shook me to my core. It was then that I took the initiative to create a financial will and consolidate my assets. However, I soon realized that there was no convenient tool or application for this purpose.

The urgency brought about by the COVID-19 pandemic, coupled with the physical distance between my family in India and myself in Singapore, highlighted the need for what I now call an “Emotional Will.” Overwhelmed with concern, I found it challenging to convey those unspoken sentiments and emotions to my loved ones.

These pivotal moments served as the catalyst for Mitt Arv’s inception, a platform aimed at empowering individuals and families to craft their emotional legacies, and it also gave rise to “Asset Vault,” a secure and user-friendly platform for safeguarding and managing wealth and assets’ information.

2.    Users can store their emotional messages as well as their financial details, so how do you ensure the data security of the users?

We employ a range of security measures to safeguard users’ data from unauthorized access. These protective measures include, but are not limited to, 2FAs (2 Factor Authentication), or Single Sign-On (SSO) for registration and logins. Additionally, we utilize advanced technological safeguards such as encryption: data-at-rest firewalls, and Secure Socket Layer (SSL) technology enhanced with a SHA 512-bit encryption algorithm for securing data during transmission. We also ensure every communication between the user interface and the server is tokenized.

In addition, we use Azure’s offered best practices for data and server security.

3.   Explain in detail about the legacy planning tool of Mitt Arv.

Mitt Arv’s legacy planning tool is anchored around two essential products: the “Emotional Will” and the “Asset Vault.”

With Emotional Will, you can craft a legacy that goes far beyond the traditional will, allowing you to pass on your deepest emotions to loved ones. It preserves your priceless feelings through text, audio, or video wills, ensuring they are remembered forever.

Asset Vault, on the other hand, is a secure and user-friendly platform that allows you to safeguard and manage your wealth and assets’ information. It provides a seamless way to compile and securely store all your valuable assets, properties, and important documents within a single interface.

The ultimate aim of legacy planning is to ensure that a person’s legacy, both in terms of their financial and emotional aspects, is preserved and passed on according to their wishes.

4.    How do you see the future of emotional will in India?

India has a rich and diverse cultural landscape with various customs and traditions related to end-of-life planning. Emotional wills can align with these cultural values by allowing individuals to pass on their wisdom, blessings, and messages to their loved ones, making it a meaningful addition to their legacy. As awareness about the importance of end-of-life planning grows in India, emotional wills can gain popularity. People may recognize the value of leaving behind personal messages and instructions, leading to an increased demand for such services. India’s growing awareness of mental health issues may drive interest in emotional wills as a means of addressing emotional and psychological well-being. Encouraging individuals to express their feelings and emotions can have a positive impact on mental health.

In conclusion, the future of emotional wills in India is promising, driven by cultural values, increasing awareness, and mental health concerns.

5.  What are the expansion plans of the company?

We are committed to continuously developing technology products designed to meet the evolving needs of our users in the realm of legacy planning. Presently, our offerings include “Emotional Will” and “Asset Vault.” In the near future, we are poised to introduce a range of new products and features, including the ability to create financial wills with a single click, and many more products under development, all available through a Freemium model. Our primary objective remains the creation of technologically advanced, scalable products. On the services front, we’re excited for upcoming partnerships, both national and International that will cater to the demands generated by our user base. While our Asset Vault product is presently tailored for the Indian market, we have plans to expand its availability to other developing countries. Our Emotional Will product transcends geographical boundaries and is set to gain support for additional languages within the next six months.