Digital life insurance service provider Bestow has expanded to 32 states in the US, including Massachusetts, Colorado, Washington, Oklahoma, North Carolina, Arizona, Utah, and Texas, by offering its life insurance products to families.
The expansion news comes alongside the launch of Bestow’s API, which will enable partners to offer life insurance as a service within any website or app. Partners that integrate the API will be able to give their customers a transparent way to learn about and evaluate options, get a quote, and ultimately purchase a policy all in less than five minutes.
Both announcements come on the heels of Bestow’s recent $15 million Series A financing, and demonstrate the company’s commitment to expand its product offerings and reach consumers across the country.
Founded on the idea that life insurance should be effortless, on-demand, and widely accessible for those who need it, Bestow removes the difficulties traditionally associated with obtaining life insurance, and provides fast, easy, and affordable solutions to millions of uncovered Americans. Leveraging the power of AI and predictive analytics to instantly determine risk, Bestow is able to provide coverage in minutes, without any of the traditional frictions, such as agents and medical exams.
Bestow president and co-founder Jonathan Abelmann said: “Life insurance is complementary to numerous financial and consumer products that people interact with everyday. Our API is a response to demand from companies looking to seamlessly integrate Bestow’s point-of-sale life insurance offering into their app or website. Now in 32 states, we are accelerating our national expansion plans to provide access to millions of families.”
Since the company’s launch last year, Bestow has attracted customers with its focus on building products that put the customer first by optimizing the user experience, streamlining enrollment flow, enhancing its underwriting software, and releasing new features available after enrollment. In the coming months, Bestow plans to expand its product offering to nearly every state in the United States, reaching the millions of people currently without life insurance protection.
Source: Company Press Release