US-based digital insurance coverage brokerage CoverEase has fashioned a partnership with Ethos to simplify the life insurance coverage shopping for course of for patrons.
By means of the collaboration, CoverEase clients will be capable of purchase life insurance coverage insurance policies for as much as $2m, and not using a medical examination or blood take a look at.
Prospects can rapidly safe protection, starting at $7 monthly, CoverEase famous.
By means of propriety applied sciences, CoverEase and Ethos wish to streamline life insurance coverage buy.
The corporate’s underwriting process makes use of synthetic intelligence (AI) to get rid of customary standards together with a telephone interview, medical examination, and blood testing.
Launched in 2022, CoverEase claims to have bridged the hole between digital and conventional processes of buying enterprise insurance coverage, worker advantages and at the moment life insurance coverage.
CoverEase CEO Shawn Marie Edgington stated: “By connecting our clients with Ethos and their versatile and inexpensive protection, we’re constructing on our promise to make insurance coverage lighting quick, simple and superior for everybody.”
In October final 12 months, CoverEase added Beam Advantages’ dental and imaginative and prescient merchandise to develop its product portfolio.
Ethos, which can also be a US-based insurtech, secured $100m from SoftBank Imaginative and prescient Fund 2 in July 2021.
The agency seems to ‘democratise’ the life insurance coverage business by utilizing machine studying and information science applied sciences to handle legacy points.
Additionally it is backed by the likes of Common Catalyst, Sequoia Capital, Accel and GV (previously Google Ventures).
