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Insurtech startup LifeBid has launched a crowdfunding (CSF) marketing campaign with venture-backed platform Stride Fairness, having already raised $700,000 in a strategic co-investment from business companions and the Stride Group.
LifeBid is the primary startup Stride Fairness has backed with funding since its launch earlier this 12 months and is the primary CSF marketing campaign on the platform. Stride’s crowdfunding platform solely hosts corporations it has pre-qualified as meet the factors for co-investment by the VC aspect of the enterprise.
The insurtech startup is hoping to remodel the best way life insurance coverage recommendation is offered and managed. LifeBid’s digital platform has been developed to allow the 16,000 monetary recommendation suppliers and insurers nationally to interact, educate, advise and handle the life insurance coverage wants of purchasers, whereas chopping the prices of servicing them by as much as 90%.
LifeBid at present has a waitlist of two,000 Australian advisers for its platform and founder Brett Wright comes from that aspect of the business, getting down to clear up a well-known drawback.
“As advisers ourselves, and like many others within the life insurance coverage sector, now we have seen how costly it has develop into for customers to entry good high quality recommendation and canopy, and skilled how laborious, unprofitable and dangerous it has develop into for advisers, licensees and insurers to assist extra Australians,” he mentioned.
“We wish our adviser and licensee business colleagues to be house owners, beneficiaries and the driving pressure behind LifeBid. Partnering with the Stride staff on this crowdfunding supply will make this attainable and we’re excited to be their first portfolio firm.”
Stride Fairness CEO Maria Halasz mentioned they’re happy that LifeBid if their first funding and the primary portfolio firm on their crowdfunding platform.
“LifeBid is the right instance of the kind of companies we glance to fund; it has skilled and passionate founders who got down to clear up an pressing unmet want in an underserved business by offering an revolutionary expertise answer that’s extremely scalable,” she mentioned.
“Their early engagement with your entire insurance coverage ecosystem is a proof level for us, as they construct on these strategic partnerships to facilitate speedy market penetration.
“With a extremely skilled founding staff, observe document of supply, nice product-market match and robust business assist LifeBid ticks all of the containers for us for an funding and we’re excited to convey buyers this chance by our platform.”
Particulars of the CSF marketing campaign are right here.
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