Amplify Raises $12M Investment for Life Insurance Investment Platform
Amplify is the first digital platform that offers customers the ability to invest in public equities or alternative investments with their life insurance premiums, accessing tax-free returns throughout their lifetime. Amplify customers get a customized plan based on their financial goals, risk tolerance, and underwriting risk profile. Customers can also customize how much of their premiums are invested in tax efficient, high growth investments and how much goes towards their life insurance coverage. With built-in capabilities for expedited underwriting and policy delivery, most Amplify customers are able to get a life insurance investment policy within days and without a medical exam.
After incorporating in
"At Amplify, we are providing millions of Americans with a financial vehicle that can help them build wealth [while protecting what matters most]," said
Since raising their Series A, Amplify has hired a senior leadership team of executives from major insurtech and fintech platforms such as Root, Oscar Health, and Splash Financial, as well as technical leaders from Amazon.
In the year ahead, Amplify plans to launch an engaging mobile application where customers will be able to manage their investment portfolio and coverage details, all at their fingertips. Additionally, customers can manage family policies for retirement, savings, legacy, or college education. Amplify's vision is to build a customer-centric life insurance company with a streamlined purchasing process, health and wealth benefits, and an engaging customer experience throughout the lifetime of the policyholder.
"The problem with life insurance is that you never engage with the policy, which makes for a poor digital experience. Amplify figured out how to bridge the gap between insurance and fintech to create a unique and engaging consumer experience," said
"
Contact Amplify to learn more here.
About
Amplify is the first digital permanent life insurance platform offering customers direct access to products where you access tax-efficient investment returns and obtain lifelong protection. It's founded by serial entrepreneurs with industry and technology expertise looking to modernize the
About Greycroft
Greycroft is a seed-to-growth venture capital firm that partners with exceptional entrepreneurs to build the world's most transformative companies. We have deep experience investing in consumer, enterprise, digital health, and fintech sectors around the globe and work as a team to support and advise entrepreneurs, empowering them to execute on their visions. Greycroft manages over
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