Vigil, an InsurTech company focused on the annuity industry, has raised $1.3m in a pre-seed funding round to advance its API-driven automation solutions for insurance carriers.
The investment round was led by M25, with additional backing from Nationwide Ventures, Rex Salisbury, Clocktower Ventures, and Meridian Ventures, according to InsurTech Insights.
Founded in 2023, Vigil provides a white-label digital platform that enables insurance carriers to automate post-issue processing at scale.
The technology streamlines data collection, helping insurers guide customers through complex workflows while supporting document uploads and electronic signatures for a seamless user experience.
With the newly secured funding, the firm plans to enhance its product development efforts and expand its market reach.
Vigil aims to position itself as a leading force in the digital transformation of annuity services, an industry that has traditionally relied on manual, paper-based processes.
Victor Gutwein, managing partner at M25, commented on the investment, saying: “Paperwork and processes in the life insurance and annuity industry are very important to get right, a worthy precaution that has unfortunately prevented positive changes. Vigil has created a product that is much faster and more secure, allowing modern, digital policy changes to occur with less error and increased client satisfaction.”
Mason Entingh, CEO and co-founder at Vigil, said: “It’s no secret that technology in the annuity space is lagging compared to other insurance categories. The majority of solutions that exist today are focused on distribution and order entry rather than servicing existing policies. Of course new business is great, but who’s looking out for all of the people that manage a policy through its post-issue lifecycle? We want to help carriers rethink service from the ground up and build a modern experience for their financial professionals and policyholders who really feel the brunt of today’s slow, manual workflows.”
Reis Renneker, CTO and co-founder at Vigil, added: “We’re applying the same modernisation principles that have revolutionised industries like e-commerce and digital banking to the annuity space. By providing carriers with structured data outputs and facilitating true straight-through processing, Vigil transforms manual policy-servicing tasks into fully digital workflows. This level of automation streamlines day-to-day operations for carriers and advisors, ensuring faster requests, fewer errors, and a fundamentally improved servicing experience.”
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