Another insurtech has announced seed funding with the goal of increasing life insurance sales.
Breathe Life, based in Montreal, offers white-label distribution software. Its goal is to help providers and advisors reach and engage underserved markets in the life and health markets.
With a steady decline in the purchase of new policies due to long sales cycles and focus on higher-net-worth individuals,, “The life insurance industry faces distribution challenges as more consumers expect a fast and seamless digital buying experience," says Ian Jeffrey, co-founder and CEO at Breathe Life. "At the same time, the opportunity for providers to target and engage with consumers on their own terms has never been greater."
Breathe Life helps the insurance industry target the middle-market, with potential customers who have been underserved by outdated sales practices. Planning to bridge gaps by modernizing the way the companies distribute products, both directly and through their advisor networks, with the goal to reach and meaningfully engage a much broader potential customer base.
The company provides two "modules": A self-serve module allowing a direct to consumer online solution, and allows customers to get a quote, apply and get accepted. The advisor module is a digital distribution network that aims to make it faster and more cost-effective to find and convert new customers and help them apply and receive acceptance digitally.
“Ian and his team’s mission to enable the coming generation of middle-market consumers to educate themselves about life insurance and purchase online was truly compelling,” shared John Stokes, Partner at Real Ventures, which led the company's seed round.
