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Bestow Introduces Protect API to Bring Digital Life Insurance to Partners

By Insurance CIO Outlook | Wednesday, November 11, 2020

Using technology instead of humans, Bestow meets customers wherever they are with an experience designed for today's busy families.

FREMONT, CA: Bestow announced the launch of Protect API, expanding access to its entirely digital term life insurance experience. Designed with the Insurance as a Service approach, the Protect API enables companies to directly offer life insurance coverage within their apps or sites, with complete control of the customer experience.

The Protect API is customizable to individual partner needs with several integration options, from providing coverage estimates to completely hosting an end-to-end term life insurance buying experience. With Bestow's proprietary technology, partners can collect all the information required to underwrite, provide an instant decision on eligibility and, if approved, issue a life insurance policy without a customer ever leaving their app or website. Bestow's algorithms substitute data for the traditional medical exam to transform underwriting from months to minutes with no physical contact, phone screenings, or doctor's visits are required to secure coverage. 

"With the Protect API, partners can leverage Bestow's industry-leading platform to bring financial protection directly to their customers," said Jonathan Abelmann, Co-Founder and President of Bestow.

The first partner to integrate the new Protect API into its platform is Tomorrow, a startup that combines legal, financial, and insurance services in one easy-to-use app. Tomorrow has helped hundreds of thousands of Americans protect their families by creating essential legal documents such as wills, trusts, and advanced healthcare directives. Now, Tomorrow users can easily purchase term life insurance coverage to financially protect their loved ones from the unexpected.

"Too many families live without the protection of life insurance, which is why we're thrilled to partner with Bestow to bring their convenient buying experience to our customers," said Dave Hanley, CEO of Tomorrow. "Tomorrow helps more than 500,000 individuals who are new to estate planning and insurance feel comfortable and informed through its refined user experience. By utilizing the Protect API, Tomorrow users remain in the app for the entire purchase experience, from quoting to applying to purchase, which is accomplished in minutes."

Bestow is actively expanding broker, agent, and fintech partnerships as it builds on a banner year of more than 800 percent year-over-year sales growth. Agents or partners looking to bring an entirely digital term life insurance experience to their customers can work with the Bestow team to understand their product, implementation, and commission needs.

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