Ethos Secures $11.5M Financing Led by Sequoia to Build a Life Insurance Company People Love
This investment will be used to accelerate the company's rapid growth and enhance product development. Sequoia Partner
While the US economy, job market and home ownership rates, wages and the population as a whole continue to grow, life insurance policies sold in the US are declining. The share of Americans with life insurance has fallen to less than 60 percent, from 77 percent in 1989. Once seen as a vehicle for financial empowerment and protection for families, life insurance is now seen as a burden due to a confusing, lengthy and frustrating process managed by agents whose incentive structures are misaligned with the needs of everyday consumers. This reality has left tens of millions of families unprotected.
"Ten million new individual life policies are sold annually in the
The process for getting a life insurance policy on Ethos is fast, easy and inexpensive, turning a process that was once like going to the DMV to more like shopping online. Using Ethos, most people can apply and qualify for a policy after a ten minute application versus the ten weeks it takes through a more traditional process. There is always a non-commissioned licensed agent available to give unbiased guidance. More than 99 percent of Ethos customers have required no medical exam or blood test to get a policy.
"As an organization built on family-first principles, we admire Ethos' mission to simplify life insurance and ultimately empower people to protect their families," said
Ethos is co-founded by
"Ethos is working to make life insurance more accessible and affordable for people, through transparency and technological efficiency," said
About Ethos
Ethos is a new kind of life insurance built for people who don't have time for fine print, extra doctors appointments or hidden fees. Ethos uses the power of technology and predictive analytics to modernize the life insurance process and align products with what families want and need during critical times in their lives. An application is fast and easy, turning a process that used to take weeks into a ten-minute experience for most customers. Backed by
Contact:
Phone: (415) 299-6595
Email: [email protected]
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SOURCE Ethos
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