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Bestow Completes Acquisition of Centurion Life Insurance
Wednesday 15 September 2021

US-based digital life insurance platform Bestow has acquired US-based insurer Centurion Life Insurance Company, with licenses in 47 states and the District of Columbia, the company said.

With the closing of this life insurance carrier acquisition, Bestow gains the autonomy to design and launch a suite of innovative financial protection products on its platform, furthering its mission of making coverage accessible to millions of underserved families.

In addition to launching new products offered by Bestow Life Insurance, the company will continue to operate as an agency and Third-Party Administrator selling policies issued by its partner North American company for Life and Health Insurance.

Additionally, Bestow has hired nearly 80 new team members in the past 90 days and plans to hire another 70 by the end of 2021 to capitalize on numerous opportunities ahead.

Bestow's technology stack is a key differentiator enabling it to operate as both a life insurance provider and software company.

With Bestow Protect APISM, partners like Lemonade can seamlessly embed digital life insurance offerings into their ecosystem -- increasing revenue, retention and lifetime value. Bestow is also onboarding traditional carrier partners that license Bestow's platform to transform their insurance business with modern technology and best-in-class operations.
Date Published: 15/09/2021