Insurtech Ethos partners with Munich Re, Assurity to 'rethink' life insurance

Ethos, a new digital life insurer that has recently  secured $11.5 million funding led by Sequoia Capital has entered into a partnership with reinsurer Munich Re and mutual insurance company Assurity Life.

Ethos will be working with Assurity Life Insurance as its underwriting partner and Munich Re for reinsurance services.

Through the collaboration, Ethos aims to make life insurance more accessible in the US. According to the company, nearly 40 percent of Americans were without life insurance policies as of 2017.

The startup wants to bridge this gap through technology including predictive analytics and a software-based platform, insurance product innovation and education.

“It is clear that we as an industry need to start rethinking how we deliver insurance and service families,” said Tom Henning, CEO of Assurity Life. “Partnering with Ethos allows us to give more families access to trusted products while also leveraging technology to deliver a next-generation experience. We have accomplished a lot together over the past year and look forward to growing our programme.”

Mike Taht, executive vice president of research, analytics and underwriting at Munich Re, added: “Ethos is succeeding at moving life insurance online. Together with Ethos and Assurity, we are advancing direct-to-consumer underwriting and distribution. Ethos offers a creative and easy solution that enables us to reach American families where they are. By collaborating we are giving families a customized experience.”

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