What You Ought to Know:
– Assured Allies, an insurtech firm for evidence-based profitable getting old raises $42.5M in Collection B funding spherical co-led by FinTLV Ventures and current investor Harel Insurance coverage, and was joined by new and current traders together with Lumir Ventures, Funds managed by Hamilton Lane (NASDAQ: HLNE), New Period Capital Companions, MS&AD Ventures, Core Innovation Capital, Poalim Fairness, EquiTrust Life Insurance coverage Firm, Akilia Companions, and Samsung Subsequent. The newest spherical brings the full capital raised to $65M.
– Due to scientific breakthroughs, persons are residing longer. However for many, the rise in longevity is just not coupled with higher high quality of life. Greater than 45 million Individuals over 55 are projected to wish long-term care, creating an enormous monetary and social burden on households and myriad challenges for insurance coverage carriers.
The Proper Interventions, on the Proper Time
Assured Allies’ platform combines machine studying and predictive analytics with the most recent science of getting old to supply profitable getting old packages confirmed to cut back the chance of incapacity, and next-generation retirement merchandise that make long-term care insurance coverage accessible and financially sustainable.
Assured Allies launched its first product, AgeAssured, in 2020. AgeAssured is the primary science-based platform to cut back incapacity and assist getting old at house on a big scale. It’s provided in partnership with long-term care insurers and has confirmed efficacy and cost-efficiency in decreasing untimely age-related decline and enabling policyholders to proceed residing independently of their houses.To this point, this system has demonstrated a big and sustained influence on decreasing the price of long-term insurance coverage claims by as much as roughly 20%.
Assured Allies launched its second product in 2022. NeverStop is an AI-driven, science-backed platform to create, underwrite, and assist the following era of retirement merchandise. The NeverStop platform integrates digital underwriting, personalised threat discount methods, and monetary assist, in order that people aged 55+ can decrease their threat of incapacity and stay longer and higher of their houses. Patent-pending designs and applied sciences allow NeverStop to supply extra insurance coverage protection as an incentive for members participation in its wellness program. Equitrust, one of many new strategic traders on this spherical, is a NeverStop service accomplice, having integrated NeverStop in its new Bridge™ providing launched in November 2022.
“This funding spherical is a good testomony to the belief our traders and companions have within the technology-driven profitable getting old platform we have now constructed,” stated Roee Nahir, co-founder and CEO. “The necessity for modern long-term care options for the getting old inhabitants has by no means been better. With the US longevity economic system valued at over $8 trillion, it is a blue ocean alternative that’s lastly being accessed by way of know-how. We skilled fast development this previous yr regardless of the macro financial local weather, and we’re solely simply scratching the floor. This coming yr we anticipate continued development, as we concentrate on making AgeAssured out there to extra policyholders and increasing the service and accomplice community for NeverStop. We stay up for bringing extra modern merchandise to the long-term care insurance coverage market and the 90 million Individuals over the age of 55.”
