Celebrity funds from Jay Z, Will Smith and Robert Downey Jr. are backing a life insurance startup

TechCrunch | 6/14/2018 | Jonathan Shieber
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Ethos, the company that bills itself as making life insurance accessible, affordable and simple, has officially come out of stealth with an $11.5 million investment led by on of the world’s top venture firms, Sequoia Capital, and additional participation from the family offices of Hollywood’s biggest stars and an NBA all-star.

Jay Z’s Roc Nation, the family funds of Kevin Durant, Robert Downey Jr. and Will Smith all participated in the new round for Ethos, and Sequoia Partner Roelof Botha is taking a seat on the company’s board. Because nothing says star power like a life insurance startup.

Life - Insurance - Market - Interest - Venture

The life insurance market is one that’s been attracting interest from venture investors for a little over a year now. Companies like England’s Anorak, HealthIQ, Ladder, Mira Financial, France’s Alan, which is backed by Partech Investments (among others), Fabric, and Quilt, are all pitching life insurance products as well.

Ethos is licensed in 49 states, which is pretty comparable to the offering from providers like Haven Life, the Mass Mutual-backed life insurance product.

Life - Insurance - Market - Investors - Fact

What has made the life insurance market interesting for investors is the fact that consumers’ interest in it continues to decline. Whether it’s because no one trusts insurers to actually pay out, or because...
(Excerpt) Read more at: TechCrunch
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