Modern Life, an AI-powered life insurance brokerage, has announced a successful Series A funding round, raising $20 million. This round was led by Thrive Capital, with notable contributions from New York Life Ventures, Northwestern Mutual Future Ventures, and Allegis. With this latest funding, the total amount raised by Modern Life now stands at $35 million.
The primary goal of Modern Life is to transform the life insurance landscape by equipping advisors with advanced AI tools. According to Nabil Mallick, a partner at Thrive Capital, the life insurance sector presents significant opportunities for innovation and growth. He emphasized that by leveraging AI technology, Modern Life aims to create lasting value in an area that has traditionally been challenging for both consumers and insurers.
This funding round could have broader implications for various stakeholders in the insurance industry, including advisors, consumers, and competitors. For advisors, the introduction of advanced tools means a more streamlined process, potentially making it easier to serve clients and close sales. Consumers may find it easier to navigate their options, while competitors may need to adapt to the growing trend of AI integration in insurance services.
With this fresh injection of capital, Modern Life appears poised to accelerate its growth and expand its offerings. The focus on integrating AI into insurance practices not only highlights a shift in the industry's approach but also reflects growing investor interest in technology-driven solutions.
For those following the insurtech space, Modern Life's journey will be one to watch as it navigates the challenges and opportunities of redefining life insurance.
Original Source: https://www.crowdfundinsider.com/2025/11/255794-ai-insurtech-modern-life-raises-20m-series-a/