Insurtech Modern Life raised $20 mn to scale its AI powered life insurance platform

Modern Life Raises $20 Million for Growth

Modern Life, an insurtech company focused on life insurance, has successfully secured $20 million in a Series A funding round. The round was led by Thrive Capital, a well-regarded investment firm known for supporting technology-driven businesses.

Expanding AI-Driven Platform

The company plans to use the freshly acquired capital to enhance its AI-driven brokerage platform. This technology aims to streamline and simplify the life insurance process for both consumers and agents, making it more accessible and efficient.

Focus on Partnerships

In addition to growing its technology, Modern Life is also looking to expand its partnerships across the United States. This growth strategy indicates a commitment to increasing its market presence and enhancing customer offerings through collaboration with other industry players.

Who Will Be Affected?

This development stands to mainly impact consumers seeking life insurance, as Modern Life's improvements to its platform could lead to a better buying experience. Additionally, insurance agents may benefit from enhanced tools and resources that leverage AI technology.

Conclusion

Overall, Modern Life’s recent funding round reflects a continued investment in technology within the insurance sector. By enhancing its platform and expanding partnerships, the company aims to play a significant role in modernizing life insurance, demonstrating the ongoing evolution in this space.

Original Source: https://beinsure.com/news/insurtech-modern-life-raised-20mn/