Sproutt Raises $26M for Life Insurance that Rewards the 'Hidden Healthy' Behaviors in Everyone
Summary
In addition, the funds will be used to roll out a new predictive life insurance product, developed from hundreds of thousands of data points gathered from Sproutts rapidly growing customer base. Sproutts (QLI) assesses behaviors that reflect healthy living – movement, sleep, emotional health, nutrition, and overall lifestyle balance – to personalize the policy for each customer based on their individual QL score. "We see a huge opportunity to revolutionise the way life insurance is priced and delivered to customers through data analytics, real-time policy issuance, cheaper coverage and long-term user engagement", said Sam Bernstein, Partner at MoreTech Ventures. "Sproutt has achieved strong product/market fit and great momentum by addressing the flaws in the way traditional life insurance has been designed and sold historically," said Peter Monaco at Raptor Group. Using AI technology, Sproutts (QLI) assesses behaviors that reflect healthy living – movement, sleep, emotional health, nutrition, and overall lifestyle balance – to personalize life insurance policies for each customer.