Modern Life has raised 20 million in a new Series A round. The company calls this a step toward a more efficient life insurance sector. The raise lifts its total funding to 35 million. Thrive Capital led the round. New York Life Ventures took part. Northwestern Mutual Future Ventures joined in. Allegis also joined.
Modern Life positions itself as an AI-powered life insurance brokerage. It helps advisers work with more clarity. It helps them cut delays. It helps them avoid old tools that cause confusion. The company states that the life insurance market remains one of the slowest parts of financial services. It remains complex. It remains full of old processes. It remains hard for both clients and advisers.
This funding will support deeper product development. It will also push the company into more US states. It will support more partnerships with carriers. It will bring more features to its platform. The company says its goal is simple. It wants to give advisers a clear path from quote to close.
