Breathe Life, a Canada-based insurtech startup, has recently secured C$4.5 million through its latest seed funding round, which was led by Diagram Ventures with participation from Real Ventures.
Founded in 2017, Breathe Life reports that its platform delivers a “modern customer-centric experience” with tools and analytics that are “reshaping’ the insurance industry and driving business growth. The company explained:
“By transforming the distribution of life insurance from pen and paper to digital, consumers can purchase products on their own from the comfort of their home, and financial advisors can move faster and reach new audiences by using our software solution. Our platform of both consumer and broker facing solutions is helping insurance experts communicate with, learn more about and distribute insurance products to a much broader audience in a faster and more efficient way.”
According to Verdict, Breathe Life Co-Founder and CEO Ian Jeffrey, stated that the life insurance industry faces distribution challenges as more customers are expecting more of a fast and seamless digital buying experience and that Breathe Life is helping distributors tap into vast and underserved markets with digital solutions that make it more efficient and cost-effective both to find and acquire new customers and nurture existing ones.
Speaking about the investment, Diagram Ventures Founder and CEO, Francois Lafortune, added:
“Breathe Life is helping insurance carriers and distributors to get ahead of the pack, taking advantage of the latest technologies to win market shares vs. traditional competitors and to compete head-to-head with technology-first new entrants. The experienced team of entrepreneurs and operators at Breathe Life have made incredible progress to date, and we look forward to supporting the company as it continues to grow.”