Digital Insurance Platform Company Sureify Raises $15 Million

By Annie Baker ● Oct 9, 2021
  • Sureify — a leading digital insurance platform designed to modernize the life insurance and annuity industry — announced a $15 million Series C round of funding. These are the details.

Sureify — a leading digital insurance platform designed to modernize the life insurance and annuity industry — announced a $15 million Series C round of funding led by Aspen Capital Group with participation from existing investors.

As the digital transformation envelops the world, taking over businesses from banking to ride sharing to shopping — even traditional industries like life insurance find themselves conforming to this new paradigm. And much attention is being given to the relatively new direct-to-consumer model with platforms such as Ladder Life, Haven Life, Ethos, Bestow, and Fabric taking up increasing space in the industry. But legacy insurers are firing back with help from insurtech partners.

Sureify’s Lifetime platform is used by major life insurers like Allstate, Amica, Principal, Modern Woodmen of America, State Farm, AAA Life, Brighthouse Financial and Vantis Life (a Penn Mutual company) 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. And this uniquely prepares insurers to meet ever-changing customer needs and compete in the digital arena.

KEY QUOTES:

“Sureify has been on a mission to modernize the life insurance industry for nearly 10 years. 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?”

“Ultimately, this funding lets us expand our insurers’ capabilities across digital sales, digital service and digital engagement,” he said. “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.”

— CEO Dustin Yoder

“Sureify’s innovative, white-label SaaS solution addresses an enormous market opportunity and provides significant ROI to clients. 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.”

— Steve Jones, Managing Partner of Aspen Capital Group