(Image source: InsureLife homepage.)
InsureLife (Raleigh, N.C.) developer of a platform that digitally connects their financial services products with consumers and agents, as announced a seed funding round including participation from Nassau Financial Group (Hartford), CFV Ventures (Charlotte, N.C.), and several angel investors. The company also announced that it has secured distribution agreements with two major insurance companies Nassau Financial Group and an unnamed supplemental health insurer. InsureLife did not disclose the amount raised in the seed round.
In the wake of the seed round, InsureLife says its priority will be launching with these companies to distribute their products with InsureLife’s proprietary platform. InsureLife also intends to open its Series A round for growth capital later this year.
In 2020, InsureLife joined the Nassau Re/Image incubator in Hartford, and won its pitch competition. The company also placed second in the Fintech Frontier Pitch Competition in Cincinnati.
“We’re thrilled and honored to partner with forward-thinking investors and insurance companies who see the value in modernizing the antiquated insurance distribution chain,” John Cammarata, co-founder and CTO, InsureLife. “We’re excited to get moving with great brands like Nassau and one of the largest supplemental health Insurers and most recognized brands in the U.S. This round is the catalyst to many more growth opportunities that we’re already exploring for InsureLife.”
Addressing a Real Industry Need
Nat Clarkson, Managing Partner, CFV Ventures, characterizes the InsureLife platform as a unique solution that addresses a real need in the insurance industry. “We are excited to be working with the organization and look forward to being a part of its future growth,” he says.
“We’re proud of the continued success of the team,” comments Paul Tyler, Chief Marketing Officer, Nassau Financial Group. “We believe in their mission for agents and consumers now more than ever. We’re happy to see one of the early companies in our incubator, Nassau Re/Imagine, continue to gain momentum in the marketplace. In addition, we look forward to growing our Medicare Supplement insurance business in partnership with InsureLife’s team.”