Even Financial acquires LeapLife
NYC-based Engine by MoneyLion (Even Financial) announced it will be launching services for the insurance industry through the acquisition of digital life insurance agency LeapLife. The addition of LeapLife allows Even to immediately commence its insurance capabilities, aimed at simplifying and enhancing the way consumers search, compare, and get matched with insurance policies (LeapLife’s existing platform will continue to operate from leaplife.com).
Over the coming weeks, Even will further integrate LeapLife’s technology and insurance offering into its industry-leading API, making turnkey insurance marketplaces programmatically available to a vast network of channel partners – when and where their consumers are most in need – while also enabling the company to expand to other insurance sectors, including homeowners, renters and auto insurance. This adds to Even’s peerless breadth of real-time, personalized financial product offers – an expansive suite that already includes loans, savings, credit cards, and more.
Established in 2014, Even Financial is a team of over 120 people. It provides the infrastructure for financial services and channel partners to connect consumers to personalized products, with a robust yet simple API.
“Even’s goal to evolve how financial institutions find and connect with consumers is not limited to loans or credit cards, but applicable to all financial products and services, including insurance. Despite its importance, purchasing life insurance is often an overwhelming and inconvenient experience. With more than $600 billion in premiums paid each year, and only 6% of policies sold completely online, we see tremendous opportunities to help modernize the life insurance industry and offer solutions that solve challenges for consumers and carriers alike.” – Phill Rosen, Even Founder and CEO.
Established in 2017, LeapLife is a team of ~13, and it has raised a total of $1.5 million. Following the acquisition, LeapLife’s founder and CEO Tom Patterson will become an advisor to Even Financial.
