Sproutt, a life insurance company, has launched Sproutt SmartLife for Agencies and acquired full-service life insurance brokerage The Reder Agency in a bid to reshape life insurance distribution.
Sproutt is on a mission to modernise life insurance distribution for agencies, agents, and their customers.
Leveraging data and AI, Sproutt said its newly-launched SmartLife platform is set to reshape Life insurance distribution. The platform aims to empower insurance producers to efficiently assess risk, tailor policies, and enhance customer experience in the most effective and scalable way.
SmartLife for Agencies brings to market an AI-assisted first-of-its-kind platform for all aspects of agency business,
Meanwhile, Sproutt said 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 the senior vice president of Distribution.
Yoav Shaham, CEO and co-founder, said, “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 maximise agent production, reduce friction in the sales journey and modernise traditional insurance processes for carriers” explains Shaham.”
Earlier this year, FOXO Technologies, a technology company applying epigenetic science and AI to modernise the life insurance industry, has partnered with AmSuisse to distribute life insurance.
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