Modern Life has secured $20 million in new funding, marking another major milestone in its mission to rebuild the fractured, outdated infrastructure behind America’s life insurance industry. Led by Thrive Capital with participation from New York Life Ventures, Northwestern Mutual, and Allegis, this investment signals a profound shift: major incumbents now see technology not as a threat but as a catalyst for modernization.

Founded by Michael Konialian, Modern Life is building a platform designed to help advisors offer smarter, faster, fully digital insurance experiences. Instead of piecing together fragmented systems, compliance workflows, carrier forms, and manual underwriting steps, advisors can use Modern Life to manage the entire process - from quoting and recommendation modeling to underwriting and policy servicing - in one unified, AI-driven ecosystem.

It’s a platform built not just for efficiency, but for clarity - reducing administrative burdens so advisors can focus on what actually matters: guiding clients through some of the most important financial decisions of their lives.

---

The Problem Modern Life Is Fixing

Life insurance distribution hasn’t kept up with consumer expectations. In an era when financial services can be opened, signed, and monitored on a phone, many advisors still operate in a workflow filled with:

• legacy carrier portals
  
• slow underwriting
  
• manual data collection
  
• scattered compliance documentation
  
• multi-week turnaround times
  

These inefficiencies don’t only frustrate advisors - they cost revenue. Industry data shows:

• Over 50% of life insurance applications fall through due to friction, delays, and unclear underwriting pathways.
  
• Advisors spend 30–40% of their time on administrative processes instead of client consultations.
  
• Millennials - now the largest buyer demographic - expect instant digital experiences, not paperwork and long waits.
  
• The U.S. life insurance penetration rate has dropped to just 50%, its lowest in decades, largely due to outdated distribution models.
  

Modern Life attacks these bottlenecks directly. By centralizing workflows and using data to streamline underwriting, the company gives advisors a modern operating system tailored to today’s clients.

---

What Modern Life Actually Builds

Modern Life provides a digital-first platform where advisors can:

• Compare and recommend policy options
  
• Collaborate with clients in real time
  
• Access automated compliance workflows
  
• Streamline underwriting through AI-powered analysis
  
• Monitor application progress instantly
  
• Manage policies post-issuance in one dashboard
  

But what sets Modern Life apart is how deeply the platform integrates with carriers and data partners. Instead of creating yet another interface, Modern Life builds connective tissue - clean data flows, underwriting prediction models, and seamless policy lifecycle management.

The result? Advisors can cut days or weeks from the insurance process, dramatically improve placement rates, and deliver a more transparent experience to clients.

---

The Embedded Insight Driving Modern Life’s Moat

As advisors use the platform, something significant happens behind the scenes: Modern Life begins accumulating a hyper-specific dataset that becomes increasingly valuable over time.

Patterns emerge:

• Which underwriting types lead to fast approvals
  
• How specific demographics respond to product combinations
  
• Which carriers offer optimal outcomes based on client attributes
  
• Where applications typically stall - and how to prevent it
  

This evolving intelligence gives Modern Life a strategic advantage that traditional brokerages can’t replicate. The platform doesn’t just speed up workflows; it becomes the decision engine that makes advisors better at their jobs.

Founders in other regulated industries should take note:
The most defensible products aren’t the ones that automate tasks - they’re the ones that continuously learn from the tasks they automate.

Modern Life is positioning itself as the system that advisors rely on not just to manage their business, but to make smarter decisions with every new client.

---

Why Investors Are Backing Modern Life Now

The broader insurance-tech landscape is undergoing a major shift. After years of direct-to-consumer experimentation, the market is returning to the reality that advisors remain central to life insurance distribution. But advisors need better tools, and data shows the market is ripe:

• The global life insurance market is projected to exceed $3.5 trillion by 2030.
  
• AI-driven insurance software is growing at ~24% CAGR.
  
• Nearly 70% of U.S. advisors report plans to adopt new digital tools within the next 12 months.
  
• Carriers are increasingly partnering with tech platforms to reduce operational overhead and expand distribution.
  

Modern Life sits perfectly at the intersection of these trends - offering technology that complements advisors instead of competing with them.

---

How Modern Life Fits Into the Future of Insurance Infrastructure

Insurance is shifting toward:

• fully digital onboarding
  
• instant data-driven underwriting
  
• automated compliance
  
• seamless integrations between advisors and carriers
  
• real-time risk assessment
  

Modern Life isn’t building a consumer app - it’s rebuilding the infrastructure beneath an industry that touches every household milestone: marriage, homeownership, children, retirement, and estate planning.

Its platform becomes the bridge between advisors, carriers, and clients - removing friction across every step.

---

What’s Next for Modern Life

With the new $20M funding, Modern Life plans to expand in several key areas:

• deeper AI models for underwriting prediction
  
• expanded integrations with major carriers
  
• enhanced advisor-to-client collaboration tools
  
• broader compliance automation
  
• more robust policy lifecycle management features
  

The long-term vision is clear:
Modern Life aims to become the operating system of the life insurance advisory world - a system where advisors can deliver clarity, speed, and trust in a market desperately in need of modernization.