AI-Driven Platform Revolutionizes Life Insurance Distribution

Modern Life, a New York-based company, has launched an innovative AI-driven platform to revolutionize the distribution of life insurance. By integrating crucial components such as quoting, underwriting, and operational workflows, this platform aims to streamline the insurance sales process, enhancing efficiency and accuracy.

Throughout the entire sales lifecycle, the system leverages AI to assist advisors in managing case requirements, predicting underwriting outcomes, and effectively structuring policies. Designed with deep insights from the insurance industry, it addresses common challenges in underwriting decisions, financial strategy formulation, and regulatory compliance.

Michael Konialian, Co-Founder and CEO of Modern Life, emphasized the company’s focus on reimagining insurance brokerage by unifying and optimizing various functions. “We reinvented the modern brokerage by redesigning each function and replacing fragmented context with unified execution,” stated Konialian.

The platform employs AI agents for carrier quoting, risk evaluation, and structured planning reviews, ensuring a comprehensive synthesis of data from multiple sources. This facilitates actionable insights and real-time workflow progress, offering advisors increased transparency in managing cases, including underwriting evaluations, potential ratings, and assessing risk factors.

By automating routine tasks, the platform aims to minimize unexpected underwriting outcomes and identify planning opportunities that respond to evolving tax and regulatory conditions. Operating as a licensed life insurance brokerage in all 50 states, Modern Life has garnered $35 million in funding from notable investors such as Thrive Capital, New York Life, and Northwestern Mutual.