Bestow, an insurance technology platform, has appointed David Malenoir-Evans as chief product officer, Doug Brewster as vice president of finance, and Pete Schiller as VP of third-party administrator services.
Bestow, founded in 2016 in Dallas, Texas, is a technology-driven company focused on modernizing the life insurance industry.
By leveraging advanced technology and data analytics, Bestow streamlines the process of obtaining life insurance, enabling customers to secure coverage entirely online without traditional hurdles like medical exams or lengthy applications. Their platform offers end-to-end solutions for insurers, enhancing efficiency and profitability across the value chain.
- Malenoir-Evans is responsible for product strategy and execution at Bestow. He brings a successful track record in scaling products and platforms across AI, SaaS, and fintech sectors, having held senior roles at MetaMap, Procore, and Dataminr. His focus is on enhancing Bestow’s integrated technology platform to modernize the life insurance industry by replacing outdated, fragmented systems.
- Brewster oversees financial strategy and operations at Bestow. Prior to joining the company, he was a key leader on the finance teams at Tecton, Confluent, and Okta. He brings extensive experience in scaling SaaS companies through growth and IPO stages.
- Schiller leads the development of insurance operations and administration capabilities for numerous Tier-1 life insurance carriers at Bestow. With a background in sales, quality assurance, and customer service performance, he is focused on improving automation and self-service to provide a more efficient user experience that exceeds industry norms.
Bestow developed an end-to-end platform for life insurers to improve efficiency, lower costs, and increase profitability across the value chain.
In terms of funding, Bestow has raised a total of $145 mn over several rounds:
- Seed Round (August 2017): $2.5 mn led by New Enterprise Associates.
- Series A (May 2018): $15 mn led by Valar Ventures, with participation from existing investors.
- Series B (April 2020): $50 mn to support national expansion and platform development.
- Series C (December 2020): $70 mn to further enhance product offerings and expand partnerships.
Investors include Breyer Capital, Valar Ventures, New Enterprise Associates, Core Innovation Ventures, Morpheus Ventures, and Sammons Financial. In 2024, Bestow sold its carrier, Bestow Life Insurance Company, to Sammons Financial Group, allowing Bestow to focus on its Enterprise SaaS strategy without owning a life insurance company.
