Modern Life announced a $20 million Series A funding round to support its AI-powered life insurance brokerage platform and expand what it offers to financial advisors. The round is led by Thrive Capital, with participation from New York Life Ventures, Northwestern Mutual Future Ventures, and Allegis. Modern Life shared this news on November 19, 2025, in New York.
Modern Life’s Series A Round and Total Funding
Modern Life reported that this Series A brings its total funding to $35 million. Earlier, the company raised a $15 million seed round that Thrive Capital also led. The company stated that it has made rapid progress since that seed round. It cited improvements such as instant quoting, data-driven underwriting, Express Decision instant decision capability, and end-to-end agency management. With the new capital, Modern Life plans to support growth, expand strategic partnerships nationwide, and accelerate product development for its proprietary AI-driven platform.
Nabil Mallick, Partner at Thrive Capital, said life insurance represents one of the biggest untapped opportunities in financial services. He added that Modern Life aims to reimagine how the industry works by giving advisors AI-powered tools that unlock value for the broader ecosystem.
Market Context and Advisor Challenges
Modern Life positioned its platform within the size and structure of the U.S. life insurance market. The company described the market as a $175 billion sector where advisors distribute most policies. It is estimated that advisors sell about 90 percent of life insurance policies in the United States.
However, Modern Life also emphasized the complexity advisors face. Advisors must optimize financial and tax performance, compare dozens of carriers and products, and manage extensive medical underwriting requirements. The company noted that a typical permanent life policy can take six months to close in the industry. Against that backdrop, Modern Life said its AI-powered platform helps advisors streamline workflows, deliver faster and more efficient solutions, and improve client value and outcomes.
The Company’s Mission and Platform Approach
Michael Konialian, Founder and CEO of Modern Life, said the company started to solve a clear problem. He stated that advisors have an important job but encounter a complex set of obstacles when serving clients. He explained that Modern Life provides tools to help advisors deliver better client outcomes and run their firms more efficiently at scale.
Konialian also said Modern Life has integrated functions that otherwise would require more than 10 fragmented legacy tools into a single platform. He added that this approach aims to remove friction across the client journey. He described the platform’s AI support as similar to having help from a medical underwriter, tax expert, financial planner, product specialist, and marketer.
Tim Del Bello, Head of Investments at New York Life Ventures, also highlighted the advisor role. He said advisors are essential to how life insurance is purchased and noted that Modern Life uses AI to elevate what advisors do best, which is serving clients.
Four Key Areas of AI Support
Modern Life described life insurance as one of the most intricate retail financial products. It pointed to tradeoffs among financial optimization, tax planning, medical underwriting, and carrier-specific rules. To address this complexity, Modern Life said it built proprietary AI embedded across the full client journey. The company outlined four core AI-driven support areas:
- Underwriting and risk assessment: The platform analyzes medical and financial data in minutes, which Modern Life said reduces work that previously took weeks. It also helps identify the most competitive carriers for an individual’s needs.
- Advice and recommendations: The AI helps advisors connect insurance decisions with tax and financial planning, adding breadth to advisors’ existing expertise.
- Workflow automation: Streamlined processes surface the right information at the right time, which Modern Life said reduces policy cycle times.
- Client lifecycle management: The platform manages client data, quotes, applications, and medical evidence through a secure unified dashboard.
Product Access, Speed, and Client Benefits
Modern Life said its platform gives advisors access to more than 30 carriers and major product types, including permanent and term life, annuities, and long-term care. The company highlighted its instant quoting capability, stating that it reduces quote generation time from hours or days to minutes.
In addition, Modern Life described Express Decision as its instant underwriting program. It said clients can receive offers four times faster than traditional methods, sometimes within minutes. The company also stated that clients can see up to 20 percent cost savings through smarter product selection, underwriting expertise, and dedicated advocacy.
Security Standards
Modern Life said it holds SOC 2 certification and uses enterprise-grade data security. The company stated that these measures let firms and clients manage sensitive information confidently throughout the life insurance process.
Modern Life framed this funding round as a step toward scaling its AI-driven brokerage platform for advisors nationwide. The company said the Series A financing will support growth, partnerships, and continued platform development. Modern Life also invited readers to learn more about its work at modernlife.com.
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