Eldridge-backed SE2 has announced the acquisition of Breathe Life, a distribution and digital platform for the life insurance industry.
SE2 did not disclose the financial value of the deal, which is aimed at expanding its end-to-end SaaS solutions for the insurance carriers.
With Breathe Life’s acquisition, SE2 also forays in the product and data engineering of Montreal.
Founded in 2018, Breathe Life provides cloud technology to insurance carriers allowing them to manage and reduce the cost of selling, managing and servicing life and annuity offerings.
SE2 chairman and Eldridge operating partner Michele Trogni said: “Today’s news builds on our team’s momentum and further positions us to innovate and accelerate the outcomes that the life and annuity industry deserves. Our focus continues to be on increasing transparency, enabling product velocity, and improving the flexibility of how our clients consume our services.”
SE2 noted that Breathe Life is known for its front-end capabilities and product suite, which will further its go-to-market strategy for carriers.
It provides technology and services to the life and annuities insurance industry in the US.
Breathe Life CEO Ian Jeffrey said: “It is not often that you find a partner that is completely aligned with you in terms of purpose and values. We have found that in SE2 and are looking forward to reshaping the future of the industry together.”
Jeffrey will head the new business and customer engagement SaaS products at SE2.
In May 2019, SE2 bought a majority stake in insurtech firm Life.io.