Lemonade Chooses Bestow as Its Platform for Life Insurance

Bestow, the first full-stack life insurance company, today announces a partnership with Lemonade, which recently launched life insurance. Powered by Bestow's Protect API, Lemonade customers can apply for instant, affordable life insurance in as little as five minutes online — all within Lemonade's website and apps.

Customers are greeted by Lemonade's AI chatbot Maya, who guides them through a conversational application. Through the Protect API, customers are underwritten in real-time and find out instantly if they're approved. Bestow uses third-party data to determine eligibility and pricing in seconds, eliminating the need for a medical exam.

"Bestow has built life insurance infrastructure for the internet, partnering with world-class companies who provide access to vital financial products," said Jonathan Abelmann, Co-founder and President of Bestow. "Lemonade is a visionary in using technology to transform insurance, and we couldn't be more excited to partner with them on Lemonade Life, which is truly a one-of-a-kind experience."

In 2020, Bestow entered into a definitive agreement to purchase a nationally licensed life insurer, grew its customer base by 400%, and raised more than $100 million in funding. The full-stack life insurance carrier is accelerating growth across new product lines to further support advisor sales, carrier partnerships, and industry-first distribution partnerships like Lemonade Life. Bestow partners benefit from various integration options that create on-brand and highly scalable life insurance offerings. Life insurance products on Bestow's platform are competitively priced and 100% digital, bringing an unmatched offering to partners and their customers.