All in on Enterprise Business: Bestow Sells Life Carrier to SFG

From new agent products to underwriting AI, it's been a news-filled summer at Bestow. The biggest news, though, is that we’ve sold our carrier. So let’s talk a bit about that sale and the future of Bestow, which (spoiler alert) is bright.

What?

This summer, we completed the sale of our direct-to-consumer product and carrier to Sammons Financial Group.

Why?

Ultimately we needed to decide whether we are going to be a carrier and focus on building a balance sheet or enable other carriers via the technology platform we’ve developed. We decided our competitive advantages are mostly as a technology company, and we are going all in on enabling better solutions for our enterprise partners, which is very much needed in the life and annuity space. Moving away from being a manufacturer and distributor of life insurance allows us to focus even more on helping our carrier partners, like USAA, Nationwide, Transamerica, Equitable, and SFG, innovate the next generation of life insurance products.

Our mission has always been to make life insurance accessible and affordable for everyone. We believe the sale of our insurance carrier allows us to continue to deliver on this mission, with a greater focus and at an even larger scale.

“Whether it be launching new products and channels or replatforming existing products that need to be modernized and refreshed, we are doing so far faster than alternative options at a fraction of the cost and with an experience for the agent and applicant unmatched in the industry.”

Melbourne O’Banion - CEO and Co-Founder of Bestow

What’s next?

So what’s the end goal? We talk a lot about building the technology infrastructure the insurance industry desperately needs, and we’re doing that. What comes after that, though, is the flexibility and agility to perpetually innovate as market demands change. Together with our carrier partners, we’re forging that path.

“We built an end-to-end technology platform that would have been hard to imagine even 5 years ago. By accelerating innovation cycles with leading carriers, Bestow delivers high performance products in record time for many of the biggest life and annuity carriers in the market.”

Jonathan Abelmann - President and Co-Founder of Bestow

Our vision for the life insurance industry includes accelerated innovation, expedited adoption of cutting edge tech, and enhanced carrier efficiency. If any (or all) of that resonates, let’s chat.

Our latest release

We’re thrilled to announce our latest product release, a fully integrated digital final expense product for Transamerica. Read more at Insurance Edge.