May 13, 2021

Insurtech Ethos helps reshape the US life insurance market

2 min
Californian insurtech Ethos has raised $200m in a Series D round that brings the total value of its life insurance platform to $2bn

Founded in 2016, the company’s mission is to provide families with access to simple and affordable life insurance. 

Fundamentally, Ethos considers modern insurance processes to lack transparency, take excessively long to complete, and lack a “people-friendly” experience. As such, it offers customers a revised value proposition featuring:

  • Flexible coverage
  • A streamlined application process
  • A suite of online management tools
  • Access to an experienced team of licensed agents

Ethos’ application process only takes a few minutes, features no medical examinations, and follows three easy steps: 1) Quotation, 2) Application, and 3) Approval. All US citizens between the ages of 20 and 85 are eligible.

Protecting families through technology

This funding round and reviewed valuation is indicative of Ethos’ ongoing success in the US insurance market: it has experienced revenue and user growth of over 500% year-on-year and anticipates reaching $20bn in life insurance coverage by the end of 2021.

"We are on a mission to protect the next million families and will use this money to continue improving the best insurance customer experience ever created," said Peter Colis, Ethos CEO and Co-Founder. "This funding will help us enrich our technology and data platform, and help us launch new products to enable everyone an opportunity to protect their families."

Transforming the US life insurance market

Kyle Doherty, Partner at General Catalyst, which led the Series D round, commended Ethos for bringing much-needed innovation:

"Traditional life insurance remains largely unchanged over the years. It's an area that's ripe for innovation, and Ethos' successful execution demonstrates it is clearly ahead of all others in leading this digital transformation."

Worth an estimated $886.7bn, Ethos’ ability to find space for optimisation in the US life insurance market bodes well for its future prospects. With basic digital transformation within the industry fast becoming merely ‘table stakes’, it will be digital-natives like Ethos that ultimately shape the insurance’s future.

"The US life insurance industry is one of the largest markets in the world, but it has been slow to move online," added Nate Niparko, Partner at VC firm Accel (returning investor). "Ethos offers a completely modern experience that finally brings the life insurance market online, and the company is growing very quickly as a result."

Image source: Ethos

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Jun 16, 2021

Tribe and APOLLO announce national insurance campaign

2 min
Tribe Property Technologies and APOLLO Insurance have launched a campaign to digitise insurance access across Canada

Tribe Property Technologies in partnership with APOLLO insurance has announced a national insurance campaign to digitise insurance for condominium owners, renters, landlords, and developers across Canada. The aim of the campaign is to make insurance access easier and faster for owners while improving the coverage and protection of condominiums and rental buildings.

According to several surveys, nearly half of 4.5mn rented houses in Canada do not have tenant insurance protection, meaning those individuals and their families are put at risk of fire and water damage. 

What does the national insurance campaign include? 

According to Tribe, the company is working with APOLLO to ensure that this type of insurance is easier to access. It aims to achieve this by introducing a direct connection to APOLLO's insurance technology from both Tribe's strata and condo management platform and rental software to allow for increased education and awareness for owners into insurance risks and options. 

It also includes the future ability for notifications for mid-term cancellations, and plans to offer protection from potential strata/condo corporation deductibles, Tribe said. 

"We are excited to partner with APOLLO to bring accessibility, visibility, and education around insurance options to our communities and reflect the current lifestyle expectations of condo owners and residents while protecting the value of their biggest assets", said Joseph Nakhla, Chief Executive Officer of Tribe. 

Nakhla added: “This agreement with APOLLO is just the first step under our Digital Services & Partnerships revenue pillar. We will continue to layer on services to drive revenue for Tribe, and bring convenience and savings for our users, with the goal of being able to offer a one-stop-shop to our development partners and the over 100,000 residents in Tribe-managed communities”.

APOLLO uses technology as a channel between insurance brokers, carriers, and their mutual clients, offering insurance options from multiple companies on one integrated online platform.

"We like that Tribe is taking a fresh approach to condo living and building smart homes through tech-enabled service, and an integration with their Community Platform supports our goals of making insurance more accessible and supporting the needs of communities”, said Jeff McCann, Chief Executive Officer of Apollo.


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