Sproutt is now a B2B company
Digital life insurance startup Sproutt, which raised $38 million to create and promote a D2C life insurance offering, is now officially a B2B company. The startup that once described itself as “the life insurance company that uncovers and rewards the ‘hidden’ healthy behaviors in everyone,” is now “the life insurance company that modernizes life insurance for agencies, agents, and their customers.”
Sproutt is announcing today the launch of SmartLife for Agencies and the acquisition of The Reder Agency, a life insurance brokerage specializing in the traditional and senior markets. SmartLife for Agencies brings to market an “AI-assisted first-of-its-kind platform for all aspects of agency business,” while the acquisition of The Reder Agency will add over 400 agents nationwide to Sproutt’s growing network of producers as part of its evolution toward becoming a full-service distribution ecosystem. The Reder Agency’s principal owner, Ben Reder, will join Sproutt as SVP of Distribution.
With the SmartLife platform, agents can offer life insurance solutions with “top rated carriers” and a full spectrum of proprietary products, from term to whole life.
According to The Reder Agency website, the company was started with the “understanding that not all insurance marketing organizations are created equal.”
Last year, the startup announced the launch of SmartLife for Agents.
Sproutt has conducted several rounds of layoffs since its inception.
“We are excited to announce our new offering for agencies, which supercharges organizations with the necessary AI tools and products to maximize their distribution, as well as the acquisition of The Reder Agency, which adds hundreds of proven life insurance producers onto the Sproutt platform. I am thrilled to have Ben joining the Sproutt team, as we share the belief that this acquisition will be a major step in Sproutt’s commitment to be the platform of choice for insurance producers and brokers across the country. Within this data-driven industry, which evaluates risk based on consumer data, our unique contribution is that our platform leverages AI to maximize agent production, reduce friction in the sales journey and modernize traditional insurance processes for carriers.” – Yoav Shaham, CEO and co-founder of Sproutt.
Bottom Line: Sproutt is a significantly smaller team that is now pushing an agent-centered narrative in an inorganic fashion. And also, there’s no sprouting in the desert. Stated differently, Sproutt receives around 12k monthly web views according to Similarweb, which is significantly less than Ethos, Haven Life, and other D2C life insurance companies based on our latest innovation report.
