Last year, Breathe Life, a North American software-as-a-service (SaaS) provider for life insurers, raised north of $11 million in capital from private-equity investors and lenders. The objective, according to CEO Ian Jeffrey, was to increase the company’s capacity to engage with the large influx of carriers saying they needed help enhancing their online distribution and sales processes.
Six months later, the company has officially been announced as a key pillar in the digital and brand transformation strategy of Teachers Life, a Canadian fraternal insurer historically focused on group insurance for education workers that now has plans for growing in the individual space with innovative solutions for all Canadians.
“I consider Teachers Life to be like an 80-something-year-old startup,” said Martha Turner Osborne, chief marketing and sales officer at Teachers Life. “Over the last 5-10 years, we’ve had a very innovative approach to how we distribute our individual products. As a case in point, Teachers Life became the first North American insurer 7 years ago to launch a digitally end-to-end quote and issuance platform for term life.”