American Enterprise Ventures Makes Strategic Investment in Everyday Life to Scale Innovative Life Insurance Platform
Venture fund focused on early-stage startups puts stake in new life insurance platform on a mission to make life insurance accessible and affordable for all who need it.
June 15, 2021
American Enterprise Ventures, LLC, a division of American Enterprise Group, Inc. (AEG) has made a strategic investment in Everyday Life, an insurance platform on a mission to get sensible life insurance to everyone who needs it. Everyday Life is the first company to offer an end-to-end platform that saves customers money, time and hassle with personalized recommendations and plans those customers can purchase directly. Proprietary technology makes expert financial planning readily accessible to anyone who needs it.
“An estimated 41 million American consumers say they need life insurance but don’t have it, according to the 2020 Insurance Barometer Study by LIMRA and Life Happens,” says Jake Tamarkin, CEO, Everyday Life. “We believe that everyone deserves access to smart coverage that doesn’t break the bank, but high premiums, complex products and opaque underwriting present serious challenges for everyday people looking to protect their families. The good news is that help is on the way, and this investment from a highly regarded insurer validates our unique approach.”
Everyday Life plans to use the investment to grow its platform and to expand product and distribution partnerships with insurance companies and financial institutions.
“Everyday Life is a strategic investment focused on providing meaningful interactions with customers at the right time to provide the right coverage into the future. The Everyday Life team’s recommendation engine is one-of-a-kind in the marketplace. The company and its founders have the stamina to grow and fit the needs of customer into the future, and we are excited to be part of that growth,” said Julie Pearce, AVP of American Enterprise Ventures.
About American Enterprise Group, Inc.
American Enterprise Group, Inc., has multiple insurance company subsidiaries under the American Republic®, Great Western Insurance Company (GWIC®) and Medico® brands. These companies offer life and health insurance product solutions to help people secure their financial futures through various distribution channels and are licensed in 49 states plus the District of Columbia. American Enterprise is based in Des Moines, Iowa, and employs approximately 450 people in its Des Moines; Omaha, Nebraska; and Ogden, Utah, offices.
About American Enterprise Ventures, LLC
American Enterprise Ventures, LLC is a venture capital company backed by American Enterprise Group, Inc. American Enterprise Ventures’ investment strategy focuses on early-stage startups in the insurance, finance, and healthcare industries. With initial investments of up to $1 million, American Enterprise Ventures’ funds are typically made in seed to Series A round startups. For more information, visit www.americanenterprise.com/aeventures.
About Everyday Life
Everyday Life in Boston, Massachusetts, helps people who want to be smart with their money and protect their loved ones. Everyday Life's technology saves people money, time and hassle with coverage plans designed around their life stages. Everyday Life serves consumers directly through its proprietary life insurance platform and in partnership with insurance companies and financial institutions. Investors include American Enterprise Ventures, the Financial Health Network, the Global Insurance Accelerator and Techstars.