Modern Life raises $20M led by Thrive Capital to bring AI-driven underwriting to the $175B life insurance market - Tech Startups

Modern Life raises $20M led by Thrive Capital to bring AI-driven underwriting to the $175B life insurance market - Tech Startups

Life insurance isn’t known for speed. Advisors and clients continue to face cycle times, dense paperwork, and underwriting rules that vary endlessly from carrier to carrier. It’s one of the few financial products where closing a policy can still stretch […] The post Modern Life raises $20M led by Thrive Capital to bring AI-driven underwriting to the $175B life insurance market first appeared on Tech Startups.

Modern Life Raises $20M to Cut Life Insurance Policy Cycle Times from Six Months to Minutes

The $175B U.S. life insurance market stands at a critical inflection point: while 90% of policies are sold through financial advisors, these professionals navigate a fragmented ecosystem of over 10 disconnected legacy tools, each handling separate aspects of quoting, underwriting, and case management. This operational complexity translates into a six-month average policy cycle time for permanent life insurance, creating friction at every stage o…