SE2 Makes Majority Investment in InsurTech Company Life.io
May 21, 2019
TOPEKA, Kan. – May 21, 2019 – SE2, a recognized industry leader providing technology driven third-party administration services for many of the top life insurance companies in the US, announced an increased investment in Life.io, a customer engagement technology platform focused on the life insurance and annuity industry. Headquartered in Princeton, NJ, Life.io engages existing and prospective customers through an interactive platform that rewards policyholders for taking steps to improve their physical, mental, and financial wellbeing through educational content, wearables and life event data. This investment will drive continued scalability and growth for Life.io as they launch the latest version of their white-labeled platform later this year.
SE2 and Life.io are both driving digital transformation in the industry and have been enabling some of the largest life and annuity insurance carriers in their development and launch of new and unique products and consumer loyalty programs into the market. Together, the digital capabilities of Life.io combined with SE2’s Aurum platform and comprehensive operation services will enable delivery of an engaging, frictionless, and personalized experience to policyholders.
“SE2 and Life.io’s collaborative focus on delivering customer centricity and technology will be a true asset to carriers looking for efficient and effective solutions in a landscape where consumer expectations for fast, easy, and fun digital experiences continue to increase,” stated Jon Cooper, CEO and Co-Founder of Life.io.
Founded in 2012, Life.io uses behavioral economics, social psychology, and personalized content to nurture a community of highly engaged consumers. Life.io has established partnerships with leading insurance companies across eight countries, including two of the top five largest international carriers.
“This expanded partnership will create comprehensive digital offerings new to the life and annuity insurance industry,” said Vinod Kachroo, CIO of SE2. “Life.io’s unwavering commitment to transforming the policyholder experience is a perfect match for SE2’s Life & Annuity Digital platform and our vision for driving innovation for the insurance industry. We’re excited about this next chapter.”
SE2 is now a majority owner in Life.io, which will continue to be led by its current management team. Terms of the transaction were not disclosed.
SE2, an Eldridge Industries business, is a leader in digital technology enabled third-party administration services for the US life and annuity insurance industry. SE2 specializes in transforming the life and annuity insurance customer experience through its comprehensive and flexible digital platform and ecosystem. SE2 builds on its 125+ years insurance industry heritage to uniquely combine peerless industry knowledge with its end to end digital platform to enable carriers to rapidly create digital channels, launch products, optimize the cost of closed blocks, shift to a variable cost model, and improve efficiencies. SE2 has over 25 clients, services 1,000+ life and annuity products, has over $100 billion in assets under administration, and handles more than 200,000 new business applications annually. SE2 has an unmatched track record in delivering future-proofed next-generation business operations. Please visit SE2 at www.SE2.com or our LinkedIn community to learn more.
About Eldridge Industries
Eldridge Industries (“Eldridge”) invests across diversified industries with a focus on asset management and leasing; food, convenience, and consumer experiences; real estate lending and development; retirement income, insurance, and insurance technology; sports and media. In particular, the firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge Industries please visit www.eldridge.com.