View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
August 26, 2020

Insurtech Breathe Life gains C$11.5m in funding

By Patrick Brusnahan

Canada-based insurtech Breathe Life, an enterprise SaaS platform for life insurance, has received C$11.5m ($8.7m) in funding.

Free Report
img

What will drive the cyber insurance market over the next 3 years?

The global cyber insurance market was worth $7bn in gross written premiums (GWP) in 2020. It will reach $20.6bn by 2025, as the market will continue to thrive post-COVID-19. Our recent report on Cyber Insurance reveals that cybersecurity was thrust into the spotlight in 2020 as COVID-19 forced businesses to digitize their processes and adopt remote working practices overnight. The pandemic also presented an opportunity for cybercriminals to exploit global panic, with a surge in cyberattacks occurring in 2020. The need for cyber insurance is apparent, but the market is not as easy to navigate as it once was. Use our report to guide and help you to:
  • Benchmark yourself against the rest of the market.
  • Ensure you remain competitive as new innovations and insurance models begin to enter the fray.
  • Prepare for how regulation will impact cyber insurance over the next few years.
Download the full report to understand what to expect and how to align your business for success.
by GlobalData
Enter your details here to receive your free Report.

Most of this was from a Series A funding round co-led by Real Ventures & Investissement Quebec, totalling C$6.5m. Participants included Clocktower Technology Ventures, Cameron Ventures, Desjardins, NAventures, and also Diagram Ventures.

In addition, the remaining C$5m funding for Breathe Life came out of a C$4.2m debt financing and various government grants.

Breathe Life gives insurers a digital platform for the distribution of life insurance products that increases sales and speed of policy delivery.

Furthermore, it enables carriers to deliver a fully-branded, user-centric experience that streamlines the online buying process for customers.

Breath Life’s omnichannel platform breaks through data silos to unify customer information into a single profile. It also includes advanced analytics and machine learning to provide recommendations on product and market opportunities.

“Everything that has happened this momentous year has raised the stakes for carriers, forcing them to quickly and effectively modernise their operations to meet the pressing financial-security needs of billions of consumers worldwide,” said Ian Jeffrey, CEO of Breathe Life.

“Helping consumers engage online — and making it easy for advisers to help them there — is no longer a ‘nice to have,’ but an urgent requirement of the new normal. Breathe Life is empowering carriers to transform now. Using our digital distribution platform, carriers can quickly attract, service, and win new business cost-effectively across channels.”

“In our current global context there is an increased need to develop digital services in all sectors, and we’re convinced that this promising Montreal company will play an important role in bringing innovation to the insurance industry,” stated Guy LeBlanc, president and CEO of Investissement Québec.

“Our investment in Breathe Life reaffirms Investissement Québec’s leadership role among Québec-based venture capital and private investors.”

John Stokes, partner at Real Ventures, added: “Until recently, the insurance industry has approached digital transformation as a multi-year effort. If the last six months have taught the industry anything, it’s that the time to go digital is now. Breathe Life has a proven track record helping carriers across North America quickly deliver high-quality digital experiences to consumers that drive growth while also generating valuable, data-driven insights back to the business.”

Free Report
img

What will drive the cyber insurance market over the next 3 years?

The global cyber insurance market was worth $7bn in gross written premiums (GWP) in 2020. It will reach $20.6bn by 2025, as the market will continue to thrive post-COVID-19. Our recent report on Cyber Insurance reveals that cybersecurity was thrust into the spotlight in 2020 as COVID-19 forced businesses to digitize their processes and adopt remote working practices overnight. The pandemic also presented an opportunity for cybercriminals to exploit global panic, with a surge in cyberattacks occurring in 2020. The need for cyber insurance is apparent, but the market is not as easy to navigate as it once was. Use our report to guide and help you to:
  • Benchmark yourself against the rest of the market.
  • Ensure you remain competitive as new innovations and insurance models begin to enter the fray.
  • Prepare for how regulation will impact cyber insurance over the next few years.
Download the full report to understand what to expect and how to align your business for success.
by GlobalData
Enter your details here to receive your free Report.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Life Insurance International