Earlier, life insurance start-up investors were a number of celebrities: Robert Downey Jr.’s Downey Ventures, Durant by Kevin Durant, Will Smith’s Smith Family Circle and Roc Nation by American rapper Jay-Z. Thus, the total amount of funding reached $46 million.
Ethos offers long-term life insurance (from 10 to 30 years), but unlike other traditional insurers, the registration process can be completed within 10 minutes, based only on customer information.
The company Ethos emphasizes that the purchase of life insurance usually takes from 5 to 15 weeks, because it requires a lot of documents, including medical results. Ethros, using data analytics to predict a client’s life expectancy, greatly simplifies the process of obtaining insurance, which also eliminates the presence of intermediaries.
"The insurance sector is an industry of $1 trillion, which is still largely dependent on pens and paper, annoying vendors, doctor visits and old systems, so we believe that there is a huge opportunity to simplify the process with the help of technology - and this is what Ethos does,” said the director of the investor company Accel Partners.
Photos per website: Freedman Club
