"In order to evolve life insurance for modern consumers we've built proprietary technology from the ground up and have redesigned every part of the value chain," said
Ladder was the first company to move beyond manual and accelerated underwriting to offer truly instant, fully-underwritten life insurance policies. Because Ladder utilizes algorithmic underwriting that incorporates hundreds of data points to fully assess the risk, the company is able to provide most of its customers an offer in less than 15 seconds. In fact, the company is often able to deliver decisions as little as 429 milliseconds after a customer submits an application. This level of speed and convenience -- combined with the protective value of a complex underwriting decision -- simply was not possible prior to Ladder.
LadderLifeTM Insurance Product Design
Unlike many of its digital competitors who rely on off-the-shelf products from existing incumbent life insurance companies, Ladder teamed up with its insurance company partners to create and design a unique LadderLife product specifically for its customers (currently in 49 states and D.C.). Creating this streamlined product has enabled Ladder to lead the way in customer experience, with NPS routinely well over double the industry average.
End-to-End Customer Experience Integration
In addition to delivering decisions in a matter of seconds, Ladder has integrated its front and back-end platforms, enabling the company to offer fully-underwritten policies within minutes -- including application, underwriting, billing, acceptance, issuance, and electronic delivery. This full integration is an important distinction and stands in sharp contrast to other industry participants -- even the newer ones -- who advertise you can 'apply' or 'sign-up' in as little as 10 minutes. These consumers are often then still required to complete a 45-minute telephone underwriting interview. What's more, even if they pass the tele-underwriting interview and wait days or weeks to get an underwriting decision and the policy issued, these same consumers are then not able to do simple things like manage beneficiaries or adjust payment methods online. Ladder is committed to providing consumers with the experience they deserve, every step along the way. This includes calculating and quickly applying for coverage, and even the ability to adjust their policies at any time, without having to pay any fees.
Making Life Dynamic
Another industry milestone was the company's launch of the Ladder API in
Moving at the Speed of Software,
Ladder deploys code on average of 13 times a day -- with more than 10,650 enhancements to the codebase already in production -- using its technology and data to continuously improve the process and accelerate the speed of obtaining life insurance. This revolutionary data-centric approach has gained the company industry recognition, including:
For more information or to get a quote, visit www.ladderlife.com.
Ladder is life insurance built to be instant, simple, and smart. Founded in 2015, Ladder has designed a digital-first life insurance product to serve today's financially savvy consumer. Ladder has raised a total of
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