Modern Life just closed a $20 million Series A round led by Thrive Capital, with strategic backing from New York Life Ventures, Northwestern Mutual Future Ventures, and Allegis.
The New York-based AI insurance brokerage now sits at $35 million in total funding and is transforming how financial advisors sell life insurance in the massive $175 billion U.S. market.
The Platform Killing Insurance Delays
Founded in 2021 by fintech veterans Michael Konialian (CEO, ex-CoverWallet VP) and Jack Arenas (CTO, ex-Petal co-founder), Modern Life built an AI platform that slashes policy approval times from six months to minutes.
The startup emerged from stealth in August 2022 with a $15 million seed round backed by 12 unicorn founders.
Modern Life's secret weapon is Express Decisionâan instant underwriting system that delivers offers four times faster than traditional methods.
Advisors get instant quotes across 30+ carriers covering term life, permanent life, annuities, and long-term care. Clients save up to 20% through smarter product matching.
Modern Life Funding Breakdown
| Round | Amount | Valuation | Lead Investor | Date |
|---|---|---|---|---|
| Series A | $20M | Undisclosed | Thrive Capital | Nov 2025 |
| Seed | $15M | Undisclosed | Thrive Capital | Aug 2022 |
Why VCs Are Betting Big on Insurance AI?
The timing couldn't be better. While 90% of life insurance policies are advisor-distributed, those advisors drown in complexityâjuggling tax optimization, medical underwriting, and carrier-specific rules across fragmented legacy systems.
Modern Life's AI acts like having a medical underwriter, tax expert, financial planner, and product specialist working simultaneously.
“Modern Life is reimagining how the industry works by empowering advisors with cutting-edge, AI-powered tools, unlocking lasting value for the entire ecosystem,” said Nabil Mallick, Partner at Thrive Capital.
The fresh capital will accelerate product development, expand nationwide partnerships, and scale Modern Life's AI capabilities. The company is already licensed in all 50 states and SOC 2 certified.
Company Snapshot
| Metric | Details |
|---|---|
| Total Funding | $35M |
| Carriers | 30+ |
| Products | Term, Permanent, Annuities, LTC |
| AICurator Rating | ââââ (4/5) |
| Market Opportunity | $175B U.S. life insurance |
| Founded | 2021 |
What's Next?
Modern Life must prove its AI can maintain accuracy while scaling nationwide advisor partnerships. The insurtech faces competition from established carriers launching their own digital platforms.
But with strategic backing from major insurance players like New York Life and Northwestern Mutual, Modern Life is positioned to become the operating system for America's life insurance advisorsâif it can execute on its aggressive expansion roadmap.
Connect With Modern Life
| Platform | Link |
|---|---|
| Website | modernlife.com |
| linkedin.com/company/modernlife | |
| Twitter(X) | @ModernLifeHQ |
