"The name fits. Ethos runs a three-sided platform where consumers buy policies online in 10 minutes without medical exams. It says over 10,000 independent agents use its software to sell those policies and that carriers like Legal & General America and John Hancock rely on it for underwriting and administrative services. Ethos itself isn't an insurer - it's a licensed agency earning commissions on sales."
"The company and its selling shareholders raised approximately $200 million in the offering, selling 10.5 million shares at $19 each under the ticker symbol "LIFE" - one of the more on-the-nose choices in recent memory. Though the company's stock closed its first day as a public company at $16.85, 11% below its IPO price of $19, Ethos co-founders Peter Colis and Lingke Wang still have plenty to celebrate, having grown the 10-year-old business to public-market scale."
"When we launched [the business], there were like eight or nine other life insurtech startups that looked very similar to Ethos, with similar Series A funding. Over time, the vast majority of those startups have pivoted, been acquired at sub-scale, remain at sub-scale or gone out of business."
Ethos Technologies, a San Francisco insurtech, debuted on Nasdaq under the ticker LIFE, raising roughly $200 million by selling 10.5 million shares at $19 each. The platform enables consumers to buy life insurance online in about 10 minutes without medical exams and supports over 10,000 independent agents. Carriers such as Legal & General America and John Hancock use Ethos for underwriting and administrative services. Ethos is a licensed agency that earns commissions rather than operating as an insurer. The company's stock closed its first trading day below the IPO price, and the firm has raised over $400 million in venture capital while pursuing profitability.
Read at TechCrunch
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