The startup operates an on-demand insurance aggregator platform that utilizes a proprietary algorithmic underwriting engine to assess risk in real-time. This technology enables consumers to obtain affordable life insurance instantly, without the need for agents, lengthy applications, or medical exams.
Funding
$178.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional life insurance processes often involve lengthy applications, medical exams, and agent interactions, creating barriers to quick and affordable coverage. This complexity can deter individuals and families from obtaining necessary financial protection.
Solution
Bestow offers a technology platform that enables carriers to provide customers with fast, easy, and affordable term life insurance. The platform leverages algorithmic underwriting to assess risk in real-time, eliminating the need for medical exams for many applicants. By streamlining the application process and automating key steps, Bestow's platform allows insurance carriers to expedite policy issuance, reduce operational costs, and enhance the customer experience. The platform offers a suite of tools for digital application, underwriting, agent portals, and policy administration, which can be integrated with existing systems or implemented as a complete end-to-end solution.
Target Audience
Bestow primarily serves life insurance carriers seeking to modernize their operations, reduce costs, and grow their business through digital transformation, as well as agents looking for tools to streamline the sales process.
Features
- Digital application suite for customers and agents, providing a streamlined, user-friendly experience from quote to checkout
- Automated underwriting engine with customizable rules and a workbench for complex cases
- Agent portal with real-time statusing and sales management tools
- TPA suite with admin tools and features for pre- and post-issue servicing
- Customer portal for self-service policy management
- Performance IQ for monitoring KPIs across channels and tools
- Data Optimization Suite for targeted audience segmentation and funnel enhancements
- Support for term, final expense, indexed universal life, and annuity products
- White-labeled digital application and customer portal experiences
- Integration capabilities with existing carrier systems