iPipeline has entered into an strategic alliance with US life insurance provider Ethos to help a wider range of consumers benefit from its online life insurance coverage platform.
Ethos’ mission is to make life insurance more affordable and accessible to as many Americans as possible. With its proprietary technology stack, Ethos can process an application instantly, providing information about coverage eligibility and rates. Once the application is approved, the policyholder can activate their coverage immediately.
iPipeline is building an end-to-end digitised ecosystem for the life insurance and wealth management industries, which it said will enable millions of uninsured or under-insured Americans to secure their financial futures as part of a holistic financial planning experience.
Ethos is the first InsurTech on the iPipeline platform. It can now offer its white-labelled and customised life insurance assessment, application and policy delivery services to more than 400,000 agents across the iPipeline ecosystem.
Bill Atlee, founder and chief innovation officer of iPipeline, said, “Each agent determines what matters most to their client. Sometimes that’s speed—and sometimes it’s price.
“Our quote engines with the added ‘speed score’ search will help Ethos stand out in an industry that is used to a 30-to-45-day underwriting process. Agents can now view Ethos’s products alongside traditional carriers with the ability to consider more than just price. We’re excited to bring the Ethos products to the many agents in the iPipeline ecosystem, and we look forward to our ongoing partnership.”
US life insurance firm Ethos received a $100m investment from SoftBank Group last year, propelling its valuation to $2.7bn.
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