Ethos Technologies has submitted a filing with the US Securities and Exchange Commission (SEC) for an initial public offering (IPO). 

The company plans to list its Class A common stock on the Nasdaq Global Select Market under the ticker ‘LIFE’.  

The company’s technological platform is designed to simplify the insurance industry’s value chain, from distribution to underwriting, and from activation to payments and administration.  

By consolidating various elements of insurance sales and administrative processes into one platform, the company will be able to develop insurance products and adjust underwriting and pricing. 

The platform enhances the application process for consumers and agents, minimising errors by utilising real-time validation against third-party data. 

Ethos’ underwriting engine employs predictive analytics and real-time data to facilitate risk assessment and the issuance of priced policies.  

The company has also introduced a range of life insurance products and services for wills and estate planning. 

The IPO aims to improve its capital structure and establish a public market for its shares. 

A portion of the net proceeds will be allocated to anticipated tax obligations related to RSU (restricted stock unit) net settlement, with the remainder earmarked for general corporate purposes, which may include acquisitions or strategic investments, although there are no current commitments for such transactions. 

Details regarding the number of shares to be offered and the price range have not yet been disclosed.  

A consortium of underwriters led by Goldman Sachs & Co. and J.P. Morgan Securities will manage the offering, which includes several other financial institutions. 

Legal counsel for the validity of the shares being offered includes Cooley for Ethos Technologies and Simpson Thacher & Bartlett for the underwriters. GC&H Investments, associated with Cooley, holds a notable number of shares that are convertible into Class A common stock. 

Recently, Neptune Insurance Holdings launched its IPO in the US, targeting a raise of up to $368.4m.  

The insurer set the price range for its shares at $18–20, with an offering of 18.42 million shares to the public.