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- Sureify, a leading digital insurance platform designed to modernize the life insurance and annuities industry, has announced Series C funding of $ 15 million. These are the details.
Sureify, a leading digital insurance platform designed to modernize the life insurance and annuities industry, announced $ 15 million Series C funding led by Aspen Capital Group with participation from existing investors.
As digital transformation envelops the world, taking control of businesses from banking to ridesharing to shopping, even traditional industries like life insurance are conforming to this new paradigm. And much attention is being paid to the relatively new model of direct-to-consumer sales with platforms such as Ladder Life, Haven Life, Ethos, Bestow, and Fabric increasingly taking their place in the industry. But traditional insurers are fighting back with the help of insurtech partners.
Sureify’s Lifetime platform is used by major life insurers like Allstate, Amica, Principal, Modern Woodmen of America, State Farm, AAA Life, Brighthouse Financial and Vantis Life (a Penn Mutual company) to add scale , functionality and efficiency without the need to hire. additional people, creating proprietary software, or supporting other expenses traditionally required to meet modern customer expectations. And it uniquely prepares insurers to meet evolving customer needs and compete in the digital arena.
KEY QUOTES:
“Sureify has been on a mission to modernize the life insurance industry for almost 10 years. We have now proven that large and small life insurers can digitally transform to compete with direct-to-consumer entrants and meet ever-changing consumer expectations from year to year. Most importantly, insurers can modernize their existing systems, do it in unprecedented time frames and stay on budget. There are no longer questions as to whether traditional insurers can digitally transform sales, service or engagement. The only real question is when?
“Ultimately, this funding allows us to expand the capabilities of our insurers in digital sales, digital services and digital engagement,†he said. “There is a huge opportunity to continue to modernize the legacy aspects of this industry and this investment in Sureify reinforces the fact that we will help the traditional insurer to compete with emerging digital brands. ”
– CEO Dustin Yoder
“Sureify’s innovative white label SaaS solution addresses a huge market opportunity and delivers significant ROI to customers. Their platform enables life insurers to leverage important agent / policyholder relationships with personalized sales, service and meaningful ongoing engagement at a fraction of the time and cost required to revamp a legacy back-end system. . We are honored to partner with their visionary leadership team to further accelerate the growth of this world-class company. “
– Steve Jones, Managing Partner of Aspen Capital Group
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