SAN JOSÉ, Calif – As insurtech pioneer Sureify prepares to celebrate its 10th anniversary–a remarkable milestone in the world of digitization–it’s worth considering where the life insurance industry was when the company was founded.
In 2012, the Saïd Business School at the University of Oxford released data from their survey “Big Data @ Work.” (Yes, “big data” was a cutting-edge term then.) From the survey, an interesting fact emerged–74% of insurance companies surveyed reported that the use of information (including big data) and analytics created a competitive advantage for their organization. (That, by the way, was an 111% increase over the results from just two years earlier, at the widely accepted inception of insurtech.)
At the same time the survey was being conducted, Dustin Yoder, a young Cal Poly Tech grad, began to consider using data and technology to help life insurers change how their products were bought and sold. Dustin’s father, Greg, a successful broker, had navigated the waters of life insurance for years, building his business the way generations before him had–through personal contacts, hard copies of applications and forms, and handwritten letters and notes. Dustin, who had already developed and sold a tech company, saw a way to use technology to lower costs and increase efficiencies. And so, on August 14, 2012, Sureify was born.
Sureify has established itself as a major player in insurtech primarily because of partnerships with life insurers rather than disruptions to them. These collaborations have innovated the life insurance space with technology that was unimaginable in 2012. Today, Sureify’s Lifetime platform transforms the way life insurance carriers deliver and enhance agent and customer experiences. The impressive product line includes LifetimeACQUIRE, LifetimeAGENT, LifetimeENGAGE, LifetimeSERVICE and CoreCONNECT. The Lifetime platform has simplified how carriers sell, service and stay connected with customers while providing agents and their clients ways to communicate through multiple channels.
“My mission when I started Sureify was to modernize the life insurance and annuity industry,” Sureify’s CEO Dustin Yoder said. “For the past 10 years, Sureify’s teams have been working towards that mission–and we are successfully meeting the needs of life insurers to digitally optimize their stake in the life insurance industry.”
The road for Sureify, and for the insurtech industry in general, hasn’t been without obstacles. Convincing a traditionally conservative industry to reimagine tools was not an easy task. However, many companies recognized Lifetime could help them better deliver on their promises to customers, agents and employees. Insurers and clients who took the digital leap with Sureify were well prepared for the unforeseen future event of COVID-19. Those who implemented Lifetime were prepared to conduct online sales and service functions when it was not possible to conduct business in person.
“The carriers we work with have the same mission as us–to continue innovating within the industry,” Dustin said. “It’s not just about digital transformation today but how we can all work together to set up the industry and insurers who embrace tech with success for years to come.”
Among Sureify’s highlights over the past 10 years:
- 5 Top 10 Life Insurers as clients
- Company expansion–Sureify currently has over 300 employees globally
- $35 million in funding from investors
- Continues to thrive with a rapidly growing team and life insurance carrier base
As Sureify begins its second decade, the future looks bright. With two revolutionary products set to be released this fall, Dustin Yoder and his team continue to search for and solve challenges within the life insurance and annuity industry. By developing digital technology that makes life insurance products easier to understand and buy, Sureify keeps the expectations and experiences of the end user in mind. Their groundbreaking technology ensures growth potential for carriers and protection for a new generation of policyholders.
Sureify’s mission is to modernize the life insurance industry by helping carriers acquire, service and engage their customers through any distribution channel with one digital, low-code enterprise platform: Lifetime. Sureify’s products–LifetimeACQUIRE, LifetimeAGENT, LifetimeENGAGE, LifetimeSERVICE and CoreCONNECT–provide insurers with the innovative tools they need to technologically advance within the life insurance industry. These tools empower carriers, agents, employees and customers within the life insurance realm to have the digital experiences workers and consumers have come to expect in the current rapidly advancing tech climate. Sureify’s diverse team works to continually bring the most advanced thinking, approaches and solutions to the insurance industry. Learn more at www.sureify.com.