Modern Life Boosts Financial Advisors with $20 Million Series A Funding for AI-Driven Insurance Solutions

Modern Life Secures $20 Million in Series A Funding

In the ever-evolving landscape of financial services, Modern Life has emerged as a pioneer in utilizing artificial intelligence to streamline life insurance processes for advisors and their clients. On November 19, 2025, the company announced a successful Series A funding round, raising $20 million, which brings its total funding to $35 million, paving the way for significant advancements in the life insurance sector.

This latest funding round was led by Thrive Capital, with additional participation from New York Life Ventures, Northwestern Mutual Future Ventures, and Allegis. Each of these investors recognizes the vast potential within the $175 billion U.S. life insurance market, a sector historically characterized by its complexity and inefficiency.

"Life insurance remains one of the biggest untapped opportunities in financial services," remarks Nabil Mallick, Partner at Thrive Capital. He emphasizes that Modern Life is at the forefront of reimagining how advisors operate, empowering them with innovative, AI-based tools that drive unprecedented value for all stakeholders involved.

Streamlining Advisor Operations

Traditionally, life insurance policies are predominantly distributed through advisors, with around 90% of policies sold in this manner. However, the process has often been bogged down by complexity, requiring advisors to manage a labyrinth of financial and tax optimization, multiple carrier options, and extensive medical underwriting procedures. A standard permanent life policy can take up to six months to finalize, a timeline that presents significant challenges.

Modern Life aims to transform this narrative through its AI-powered platform. According to Michael Konialian, Founder and CEO of Modern Life, the company was established to resolve the clear challenges advisors face in serving their clients effectively. Modern Life integrates multiple tools into a singular platform, effectively eliminating the friction previously associated with the client journey.

The innovative AI capabilities of Modern Life help advisors tackle the most complicated aspects of the insurance process, operating much like a team of specialized experts in medical underwriting, financial planning, and marketing – all accessible to advisors within a single interface.

Key Features of the AI Platform

Modern Life's proprietary AI platform focuses on four critical areas:

1. Underwriting and Risk Assessment: This component drastically reduces the time taken to analyze medical and financial data from weeks to mere minutes, helping advisors quickly identify the most competitive insurance carriers tailored to each client's needs.

2. Advice and Recommendations: The platform enhances the ability of advisors to connect the dots between insurance products, tax implications, and overall financial planning, adding depth to their existing expertise.

3. Workflow Automation: By streamlining processes and surfacing relevant information when needed, the platform significantly reduces policy cycle times, enabling advisors to serve their clients more efficiently.

4. Client Lifecycle Management: All client-related information, quotes, applications, and medical data are managed through a secure dashboard, allowing for seamless interactions throughout the insurance process.

Advisors using Modern Life can access a range of over 30 carriers and various product types, including permanent and term life insurance as well as annuities and long-term care options. Notably, the platform boasts advanced instant quoting capabilities that cut down the time required to generate insurance quotes from hours or even days to just minutes.

With the addition of the Express Decision program, clients can receive offers four times faster than through traditional channels, significantly enhancing client satisfaction. This efficiency translates into cost savings of up to 20% for clients through smart product selections, personalized underwriting expertise, and dedicated advocacy from advisors.

Commitment to Security and Efficiency

Modern Life is committed to the highest standards of data security, holding SOC 2 certification and ensuring that sensitive client information is managed with utmost care throughout the insurance process.

As Modern Life continues to innovate within the life insurance industry, it is positioned to leverage this recent wave of funding to enhance its platform further. The company is committed to expanding strategic partnerships and accelerating product development, promising to transform how advisors operate and ultimately improve client outcomes in the complex world of life insurance.

Visit modernlife.com to discover how Modern Life is revolutionizing the life insurance experience, making it more efficient and effective for both advisors and their clients.