Integrity Life raised $43 million

Integrity Life secured $43 million in their recent series B round of funding. The majority of the capital has come from institutional funds managed by Schroder Investment Management (Switzerland) AG, a member of the Schroders group (“Schroders”), with support from existing institutional shareholders Leadenhall Capital Partners and Daido Life, and smaller parcels coming from Australian and International sophisticated investors. The money will be used to support the expansion of operations and continued development of their digital-led insurance offering.

“We’re thrilled to have the confidence and backing of Schroders, who have recognised that our approach to Life Insurance in Australia is changing the game. Our ethos of ‘digital when you want it, human when you need it’ allows us to marry the convenience of technology with an empathetic approach that guides everything we do. In an industry that is crying out for innovation, we’re excited that this injection will enable us to bring more Australian firsts and step-change improvements to both the financial adviser and customer experience.” – Chairman Eric Dodd.

“We are excited to support Integrity Life in its next phase of growth as it continues to strengthen its position in the Australian life market. The investment provides Schroders’ investors with a rare opportunity to support a digital-focused business that provides access to diversifying life insurance risks, such as mortality, critical illness and disability.” – Portfolio Manager for Life Insurance Linked Securities at Schroders, Scott Mitchell.

The startup, that opened its doors in mid-2018, now protects more than 60,000 customers across both their Group and Retail books.