iLife Promises Life Insurance Quotes In Under 7 Seconds

Francesca Billington

Francesca Billington is a freelance reporter. Prior to that, she was a general assignment reporter for dot.LA and has also reported for KCRW, the Santa Monica Daily Press and local publications in New Jersey. She graduated from Princeton in 2019 with a degree in anthropology.

iLife Promises Life Insurance Quotes In Under 7 Seconds
Photo by Dillon Shook on Unsplash

Insurtech veteran Nelson Lee is behind a new startup digitizing life insurance — a process he promises can happen in as little as seven seconds.

For a monthly fee — premium subscriptions start at $99 — insurance agents and brokers can access iLife's database of over 500,000 policies along with the software to help them match customers with the right plans.

"You would never have to hire a developer, you wouldn't need to know anything related to technology, you'll never need to buy Salesforce or use Wordpress," said Lee, founder and CEO of the SaaS startup.

Some customers, he said, call the platform "the Shopify of life insurance."

The Playa Vista-based company closed a $4 million seed round led by Foundation Capital to grow its team and launch new product features aimed at remaking the notoriously slow process.

According to the company, life insurance shoppers are typically left waiting between five and 14 business days for a quote. Meanwhile, agents can easily burn through thousands of dollars before getting their agencies off the ground.

Around 90% of Lee's users already sell other financial products and are looking to expand into life insurance.

"As a broker selling life insurance the traditional way for years, I knew the pain points in the process," said Jessica Leopore, founder of online life insurance company Surevested, which runs on iLife's software. "Quotes, applications and underwriting turnaround times were incredibly time-consuming and frustrating for both the agent and client alike."

iLife's platform, she said in a statement, streamlines the sales process "from quote to bind, freeing up our time to be more productive."

Four life insurance carriers and over 100 agencies and brokers currently use the platform in beta. It will launch to the public in June.

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Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to and find him on Twitter @Samsonamore.

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Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech Week: Technology and Storytelling for Social Good
Photo taken by Decerry Donato

On Monday, Los Angeles-based philanthropic organization Goldhirsh Foundation hosted the Technology and Storytelling For Social Good panel at Creative Visions studio to kick off LA Tech week.

Tara Roth, president of the foundation, moderated the panel and gathered nonprofit and tech leaders including Paul Lanctot, web developer of The Debt Collective; Alexis Cabrera, executive director of 9 Dots; Sabra Williams, co-founder of Creative Acts; and Laura Gonzalez, senior program manager of Los Angeles Cleantech Incubator (LACI).

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