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October 05, 2021 at 01:41 PM
What You Need to Know
- The company bought Fremont Life and renamed it Ladder Life.
- It has been selling coverage from Fidelity Security and units of Allianz.
- It recently licensed some of its technology to a customer relationship mangement system company.
A digital term life broker has raised $100 million from institutional investors.
The broker, Ladder Financial, said Monday that that the biggest sources of capital were Thomvest Ventures and Omers Growth Equity.
Ladder is a 4-year-old, Palo Alto, California-based company that bills itself as a “full-stack digital life insurance company.”
It sells term life insurance from Fidelity Security Life Insurance Co. and Allianz Life Insurance Co. of North America in most of the country and through Allianz Life Insurance Co. of New York in that state.
The company has also acquired a life insurance company of its own, Fremont Life Insurance Co., and changed the name of the insurer to Ladder Life Insurance Co.
