Senior Backend Engineer, Bestow

There are a few other companies, such as Ethos, using a similar approach, but it still represents a marked difference from the majority of the industry. Taking out a policy with the company can be done totally digitally, in very little time. It also offers a range of options to many different individuals, and reduces rates by as much as 40% for many applicants.

While it isn’t alone in the industry, the company’s approach is novel and focuses upon customer convenience, recognizing that many of its clients are young, working people who are very busy and may not prioritize taking out a policy if the process is difficult. In 2022, Bestow announced a partnership with Transamerica to digitize its life insurance products, off the back of a refocus on enterprise, partner, and advisor solutions. This new business strategy came after layoffs and underwhelming sales forced it to move away from D2C packages.