Modern Life raises $20M to speed up life insurance advisory work with AI
Updated: 09:00 EST / November 19, 2025
Modern Life Group Inc., an AI-driven life insurance brokerage, closed a $20 million Series A led by Thrive Capital, bringing total funding to $35 million. The company previously raised a $15 million seed round in 2022, also led by Thrive. New York Life Ventures, Northwestern Mutual and Allegis joined the latest round.
Life insurance is a massive market-estimated at $7.6 trillion in 2024 and expected to reach $8.2 trillion this year-with about 90% of policies sold through advisers. The work has grown more complex: product fit, tax outcomes, dozens of carriers, and medical underwriting can stretch a case over six months.
"We started Modern Life to solve a clear problem: we believe that advisers have an incredibly important job but face a complex and dizzying set of obstacles to serving their clients well," said founder and Chief Executive Michael Konialian. He added, "We have been pushing the frontier of what is possible in life insurance, integrating what would have otherwise been served by over 10 fragmented legacy tools into a singular platform, removing friction across the entire client journey."
What's inside the platform
- Underwriting and risk assessment: AI support for case design and risk triage.
- Advice and recommendations: Product comparisons, tax-aware strategies and suitability checks.
- Workflow automation: Faster intake, quoting and case movement.
- Client lifecycle management: Centralized data, status tracking and renewal opportunities.
Advisers get a secure dashboard that consolidates client data, quotes, applications and medical evidence. The goal is a cleaner view across insurance, tax and financial planning without juggling a stack of tools.
Why this matters for advisers
- Time savings: Quote generation drops from hours or days to minutes.
- Cost efficiency: Up to 20% savings through smarter product selection, underwriting expertise and dedicated advocacy.
- Carrier access: More than 30 carriers, including John Hancock, Lincoln and Prudential.
- Product coverage: Permanent and term life, annuities and long-term care.
- Express Decision: An instant underwriting path where eligible clients can receive offers in minutes, similar in spirit to accelerated underwriting programs discussed by regulators such as the NAIC.
The platform targets pain points most advisers know well: in-person exams, 50-page applications, countless client and carrier touchpoints and shifting regulations. "Our experience at New York Life Ventures points to a simple truth: advisers are essential to how life insurance is purchased," said Tim Del Bello, head of investments at New York Life Ventures.
How to put this to work in your practice
- Audit your current process from lead to in-force. Identify where quotes, APS ordering, and communications stall.
- Pilot on cases with clean health profiles to test Express Decision and measure cycle-time cuts.
- Centralize client documents and health data so the system can prefill and flag underwriting issues early.
- Coordinate with compliance on templates and disclosures to reduce back-and-forth later.
- Track metrics: quote-to-submit rate, placement, average time-to-offer and average premium savings.
- Engage carrier reps on risk appetite and program eligibility to route cases intelligently.
Skills and tooling for the team
If your team is leveling up on AI-driven workflows for insurance operations, these practical learning paths can help: AI courses by job function. Focus on data handling, prompt quality, and compliance-aware automation to get the most from any new platform.
Bottom line: advisers remain the distribution backbone of life insurance. Tools that cut quoting time, remove paperwork and surface better product fits free you to spend more time where it counts-client advice and placement.
Your membership also unlocks:
