(Image source: Sureify homepage.)
Sureify, a digital insurance platform designed to modernize the life insurance and annuity industry, has announced a $15M Series C fundraise led by Aspen Capital Group (Naples, Fla.) with participation from existing investors.
“Sureify has been on a mission to modernize the life insurance industry for nearly 10 years,” comments Dustin Yoder, CEO, Sureify. “We’ve now proven both large and small life insurers can digitally transform to compete against the direct-to-consumer entrants and meet the ever-changing consumer expectations year over year. More importantly, insurers can modernize on top of their existing systems, do it in unprecedented timeframes and stick within budgets. There are no longer questions about if traditional insurers can digitally transform sales, service or engagement. The only real question is when?
Insurance carrier users of Sureify’s Lifetime platform include Allstate, Amica, Principal, Modern Woodmen of America, State Farm, AAA Life, Brighthouse Financial and Vantis Life (a Penn Mutual company). The companies use the platform to add scale, functionality and efficiency without the need for hiring additional people, building proprietary software or taking on other expenses traditionally required to meet modern customer expectations, according to a Sureify statement. “This uniquely prepares insurers to meet ever-changing customer needs and compete in the digital arena,” the statement adds.
“Sureify’s innovative, white-label SaaS solution addresses an enormous market opportunity and provides significant ROI to clients,” comments Steve Jones, Managing Partner, Aspen Capital Group. “Their platform enables life insurers to build on important agent/policyholder relationships with personalized sales, service and meaningful ongoing engagement at a fraction of the time and cost required to revamp a legacy back-end system. We are honored to partner with their visionary Management Team to further accelerate the growth of this world-class company.”
Building Out Platform, Increasing R&D
The newly raised capital investment will allow Sureify to further build out its platform and increase research and development efforts to ensure market leadership for years to come, according to Sureify’s Yoder. “Ultimately, this funding lets us expand our insurers’ capabilities across digital sales, digital service and digital engagement,” he says. “There is a massive opportunity to continue modernizing the legacy aspects of this industry and this investment in Sureify reinforces that we will help the traditional insurer compete against the emerging digital brands.”