Insurtech automation platform Quility sells minority stake
US insurtech Quility has taken on board “a significant investment” from F&G Annuities & Life, with the insurance company assuming a minority stake in return.
Quility will use the investment, of an undisclosed amount, to accelerate the deployment of its technology, automation and leads platform – which is designed to make life insurance more accessible for agents and clients.
The platform enables a frictionless experience that Quility claims shortens the length of time from quote to policy placement to as little as 10 minutes.
As well as allowing Quility to invest in its insurtech and automation platforms, the latest funding will allow Quility to expand its sales channels through both B2B and D2C channels.
Investment allows Quility to ‘expedite’ insurtech innovation
"F&G's investment will expedite the innovative technology that has become synonymous with the Quility brand," says Brandon Ellison, co-founder and CEO of Quility. "This is a meaningful step in our mission to transform the way life insurance is bought and sold."
Quility was founded by Ellison alongside fellow co-founder Casey Watkins. The pair previously co-founded Symmetry Financial Group and, after launching Quility in 2020, shared the CEO role. Ellison described that model as "somewhat rare" but maintained that the co-CEO setup is "a smart way to reduce burnout, make better decisions and stay agile". Three years after launch, the business has thousands of agents operating in all 50 states and a workforce numbering over 150.
Chris Blunt, CEO of F&G Annuities & Life, says: "F&G's investment in Quility aligns with our own diversified tech-enabled strategy, while providing Quility the capacity to drive growth and secure its position as a leading insurtech company.
“We are excited to partner with Quility as they embark on developing an innovative operating platform built with Generative AI capabilities to enhance and simplify the end-to-end insurance policy experience for agents and customers."
******
For more insights from InsurTech Digital, you can see our latest edition of InsurTech Digital here, or you can follow us on LinkedIn and Twitter.
You may also be interested in our sister site, FinTech Magazine, which you can also follow on LinkedIn and Twitter.
Please also take a look at our upcoming virtual event, InsurTech LIVE, coming on 18-19 October 2023.
******
BizClik is a global provider of B2B digital media platforms that provides executive communities for CEOs, CFOs, CMOs, Sustainability Leaders, Procurement & Supply Chain Leaders, Technology & AI Leaders, Cyber Leaders, FinTech & InsurTech Leaders as well as covering industries such as Manufacturing, Mining, Energy, EV, Construction, Healthcare, and Food & Drink.
BizClik – based in London, Dubai, and New York – offers services such as Content Creation, Advertising & Sponsorship Solutions, Webinars & Events.
