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Insurtech iLife Technologies Lands $4mn For Insurance Agents

Things To Know About iLife

iLife is an insurance company aiming to make insurance more faster, easier and enjoyable for brokers, agents and customers. The company is headquartered in San Francisco, California and was founded in 2020. The privately held company is specialized in the sectors of life insurance, fintech, digital storefront, saas, software and interactive experience. On this platform, customers can compare out claims of around 6,70,000 other claims to find out the right choice for them.

As per the reports from the Los Angeles Business Journal, Foundation Venture, the Palo Alto-based venture capital firm which is also an original investor in Netflix led the funding round for the seed.

The round had an active participation from 

Taipei, Taiwan-based Cherubic Ventures

AME Cloud Ventures, Palo Alto based venture

Foundation of iLife 

The major motive of iLife is quoted as “greatest sales tool possible”. The company aims to make life insurance business at its best and served by a tool which allows everything on a single place. Till the current time, the company has raised a total of $5m in venture capital.

The insurtech’s software is designed in such a way that it can solve pain points in the life insurance sales process with suitable policies, streamlining communication and identifying strong qualified leads in the useful tools within. It operates on the strategy of “behind the scenes”; here consumers move in a stepwise algorithm from broker to agent and then to the quote of iLife.

Words From The Leaders –

In a recent interview regarding the fundings received , the leading team members shared about the missions and views about the ongoing condition of the firm.Nelson Lee, chief executive and founder of iLife, stated that “It’s cheaper than hiring 50 software developers. We don’t want to talk to a bot when we buy a policy. Neither do you want to get stuck with a person coming to your home wearing a suit. Neither is enjoyable. We don’t ever interact with consumers. Our software is sold directly to the insurance agencies and brokerages. If the website has a browsing capability, and there is a live chat, that is likely powered by us.”

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