Modern Life Raises $20M Series A to Scale AI-Driven Life Insurance Platform for Advisors
Modern Life secured $20 million in Series A funding led by Thrive Capital, with participation from New York Life Ventures, Northwestern Mutual Future Ventures, and Allegis. This round brings total funding to $35 million and backs the company's push to make life insurance work faster and smarter for advisors.
The focus: cut busywork, shorten case timelines, and improve placement with data-driven underwriting and workflow automation. The capital will support product development, national partnerships, and continued build-out of its AI-driven platform.
Why this matters for insurance professionals
The U.S. life market sits at roughly $175 billion, and about 90% of policies are sold through advisors. Yet a typical permanent case can take six months to close, with advisors juggling product selection, underwriting requirements, tax considerations, and carrier rules.
Modern Life is building a single system to simplify that flow. Less back-and-forth, better case design, and faster decisions mean more time with clients and more predictable outcomes.
What the platform delivers
- Underwriting and Risk Assessment: Reviews medical and financial data in minutes and matches clients to competitive carrier options.
- Advice and Recommendations: Connects insurance design with tax and financial planning, supporting the advice you already provide.
- Workflow Automation: Surfaces the right steps at the right time to reduce cycle times and keep cases moving.
- Client Lifecycle Management: Centralizes client data, quotes, applications, and medical evidence in a secure dashboard.
Speed, selection, and security
- Carrier access: 30+ carriers and every major product type-term, permanent, annuities, and long-term care.
- Instant quoting: Industry-leading tools that cut quote generation from hours (or days) to minutes.
- Express Decision: Instant underwriting program delivering offers up to 4x faster-often in minutes.
- Client savings: Up to 20% through smarter product selection, underwriting expertise, and hands-on case advocacy.
- Compliance and trust: SOC 2 certified with enterprise-grade security, so sensitive data stays protected. Learn more about SOC 2 from the AICPA.
Funding partners' perspective
Thrive Capital sees life insurance as a large, under-served opportunity and backs Modern Life's advisor-first approach to streamline the full process. New York Life Ventures notes that advisors remain central to how policies are purchased, and modern AI can extend that value at scale.
How to use this in your practice
- Audit your pipeline: Identify where cases stall-requirements gathering, carrier selection, or client follow-up-and map those steps to automation inside a unified platform.
- Tighten underwriting inputs: Standardize how you collect medical and financial data to improve offer consistency and cut rework.
- Design for outcomes: Pair instant quoting with side-by-side product comparisons that factor tax, duration, and premium flexibility-not just face amount.
- Set compliance guardrails: Align your firm's data handling with SOC 2 expectations and document workflows across advisors and case managers.
- Measure what moves the needle: Track cycle time, placement rate, average premium, and client cost savings to prove ROI.
The bottom line
Modern Life is consolidating fragmented tools into a single AI-driven system for advisors-quoting, underwriting support, workflow, and client management. If you're looking to trim months off case timelines and tighten product fit, this is worth a hard look.
Further resources
- Practical AI tools for finance to complement your insurance tech stack.
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