Modern Life, an AI driven life insurance brokerage trying to reshape how advisors operate, closed a $20mn Series A.
The company wants to push harder on platform growth, expand partnerships across the country, and keep building out features that simplify advisory work in a $175bn market where advisors sell the vast majority of policies.
Thrive Capital led the round, joined by New York Life Ventures, Northwestern Mutual Future Ventures, and Allegis. Total funding now hits $35 mn after the earlier $15 mn seed, also led by Thrive. As well as Thrive Capital, the $15 mn seed round also saw participation from 12 unicorn founders from the likes of Hippo, Plaid, Reddit, Flatiron Health and At Bay.
In our conversations with advisors across the country, we heard emphatically how challenging it is to get their clients life insurance coverage. From in-person medical exams and 50+ page application forms to countless client and carrier touchpoints, advisors face an arduous, opaque, and lengthy process — often more than a quarter long
Michael Konialian, Co-Founder and CEO of Modern Life
“We’re bringing the best of technology, data, and design to streamline the process end-to-end while still supporting large and complex risks. We are proud to support leading advisors as they navigate a new and dynamic industry landscape that is changing more rapidly now than at any point in the last 150 years.”
The pattern feels pretty clear. Investors see the advisor channel as ripe for tools that actually reduce complexity instead of adding more screens.
Launched in 2021, Modern Life is based in New York and reportedly streamlines the life insurance experience for advisors and their clients with comprehensive, end-to-end product offerings.
The insurtech focuses on empowering advisors by offering advanced technology solutions to digitally streamline advisors’ practices and expert brokerage support.
With Modern Life, advisors nationwide can compare quotes from top carriers in minutes, perform data-driven underwriting assessments, manage clients from an integrated dashboard, and receive comprehensive deal support.
Modern Life built a platform that uses advanced AI across the full life insurance cycle. Advisors get instant quoting, data driven underwriting, and the company’s Express Decision tool that delivers rapid decisions.
The system also acts as an agency management layer, guiding advisors through financial and medical underwriting, paperwork, and product selection without the fragmented mess they often deal with.
The platform touches the parts of the job that usually create friction. Financial optimisation, tax planning, medical requirements, carrier matching. It gives advisors access to more than 30 carriers and every major product category, including term and permanent life, annuities, and long term care.
Express Decision can cut turnaround times by a multiple of four compared with traditional methods. Smart selection tools and advisory support can trim costs by up to 20%. SOC 2 certification keeps the data handling clean.
The New York-based brokerage is offering end-to-end digital journey and data connectivity from advice to purchase, including data-driven underwriting assessments, instant quoting, and digital applications.
Its integrated dashboard allows clients to easily see and manage client submissions as well as back office administration, like appointments and commissions. It has already secured 15 leading carrier partnerships and licenses for all 50 US states and is offering a full suite of insurance products including permanent life, term life, long-term care, and disability.
Nabil Mallick at Thrive Capital said life insurance remains a huge opportunity in financial services, and Modern Life unlocks value by arming advisors with modern AI tools. He said the platform has the potential to shape how the whole ecosystem works.
Founder and CEO Michael Konialian said the company formed to solve a problem they saw everywhere. Advisors do critical work, yet they battle a maze of obstacles.
Modern Life pulls what used to require more than ten fragmented tools into one platform. It removes friction step by step.
He said their AI works almost like having a medical underwriter, tax expert, financial planner, product whiz, and marketer sitting next to the advisor all at once.
Tim Del Bello at New York Life Ventures added that advisors remain central to how life insurance gets bought in the U.S. He said Modern Life grows by leaning into that truth and using AI to boost, not replace, what advisors already do well.
