InsureLife, a startup technology company in Raleigh, NC, has developed an AI-powered platform for Insurers that digitally connects their financial services products with consumers and agents, growing sales in a contactless world.
Investors in the Seed round include Nassau Financial Group, CFV Ventures, and several angel investors. InsureLife anticipates oversubscribing the Seed round.
InsureLife has secured distribution agreements with two major insurance companies – a leading Supplemental Health Insurer and Nassau Financial Group. Following the Seed round, InsureLife’s priority will be launching with these companies to distribute their products with InsureLife’s proprietary platform. InsureLife also intends to open its Series A round for growth capital later this year.
“We’re thrilled and honored to partner with forward-thinking investors and insurance companies who see the value in modernizing the antiquated insurance distribution chain. We’re excited to get moving with great brands like Nassau and one of the largest Supplemental Health Insurers and most recognized brands in the US. This round is the catalyst to many more growth opportunities that we’re already exploring for InsureLife,” said John Cammarata, InsureLife Co-Founder and Chief Technology Officer.
CFV Ventures, Managing Partner Nat Clarkson said: “The InsureLife team has created a unique solution that addresses a real need in the insurance industry. We are excited to be working with the organization and look forward to being a part of its future growth.”
Nassau Financial Group, Chief Marketing Officer Paul Tyler said: “We’re proud of the continued success of the team. We believe in their mission for agents and consumers now more than ever. We’re happy to see one of the early companies in our incubator, Nassau Re/Imagine, continue to gain momentum in the marketplace. In addition, we look forward to growing our Medicare Supplement insurance business in partnership with InsureLife’s team.”
Additionally, in 2020, InsureLife joined the Nassau Re/image incubator in Hartford, CT, and won their pitch competition. They also placed second in the Fintech Frontier Pitch Competition in Cincinnati, OH.