Life.io closes funding round led by SE2 to drive growth and strategic expansion
For Immediate Release
[Philadelphia, PA – May 10, 2018] - Life.io, the leading customer engagement and data analytics company focused on the insurance industry, has announced the closing of a new round of growth capital. The round was led by SE2, a leading technology and third-party administration company for the Life and Annuity (L&A) insurance industry. SE2 is a portfolio company of Eldridge Industries, a private investment firm with holdings across diversified industries. Capital will be used towards Life.io’s growth in the L&A market, and to accelerate expansion into strategic adjacencies.
Founded by Jon Cooper and Mike Logsdon, Life.io transforms the relationship between insurance carriers and their policyholders. Since launching in 2015, Life.io has established partnerships with leading insurance companies across 8 countries, including 2 of the top 5 largest international carriers.
“SE2 is an ideal partner for Life.io. In combination, Life.io and SE2 have the power to launch next-generation insurance products in a matter of weeks instead of months, and can offer carriers end-to-end digital transformation capabilities,” said Jon Cooper, CEO and Co-Founder of Life.io.
Life.io is creating a new dialogue between carriers and their policyholders, allowing carriers to better understand what is happening in their customers’ lives to provide the right product at the right time. By helping policyholders achieve their life goals, Life.io builds a deeper relationship between carriers and the people they serve. Through the Life.io ENGAGE platform, policyholders are immersed in an engaging and personalized experience designed to help them achieve their physical, emotional, and financial goals in one holistic ecosystem. Carriers, in turn, build brand loyalty and benefit from new insights to drive growth, manage risk, and streamline operations.
“Fueled by changing consumer expectations and a host of new competitive threats, the insurance industry has come to universally recognize the need to quickly modernize, starting with their customer experience” adds Mike Logsdon, COO and Co-Founder.
SE2 Chief Information Officer, Vinod Kachroo, will be joining Life.io’s Board of Directors. “The policyholder experience is at the center of every carrier’s digital transformation,” said Vinod. “We have been impressed by the team’s creative approach to transforming the policyholder experience, and think it is a great complement to SE2’s comprehensive back-office digital capabilities. We look forward to supporting Life.io’s continued growth.”
About Life.io
Life.io is a leading customer engagement and data analytics solution bridging the gap between life carriers and their policyholders. By helping people achieve their goals, Life.io enables carriers to achieve their promise to help people live healthier, happier lives, while providing them with security and trust. Built on a foundation of science, Life.io uses behavioral economics, social psychology, and personalized content to nurture a community of highly engaged consumers. By utilizing Life.io, carriers capture these insights and use them to build brand loyalty, accelerate growth, minimize policy risk, and streamline underwriting. Visit www.Life.io to learn more.
About SE2
SE2, an Eldridge Industries portfolio company, is a leading technology and third-party administration company focused on the North American life and annuity insurance industry. SE2 has an unmatched track record in optimizing back-office operations to future-proof insurance companies. SE2 combines peerless industry domain knowledge with a leading-edge administration technology platform to help clients launch products rapidly, improve efficiencies, shift to a variable cost model and maximize profits while dramatically improving the customers’ experience. SE2 supports more than 20 direct clients, represents more than 35 carriers in North America and services more than 1,000 life and annuity products. SE2 has approximately $100 billion in assets under administration and has been recognized as an industry-leading innovator. In May 2017, SE2 was recognized as one of the “20 Most Promising Insurance Technology Solution Providers” by CIOReview. Visit SE2 at www.SE2.com or at LinkedIn to learn more.
