Insurtech Applies Data and Behavioral Science to Shift the Aging Trajectory Toward Healthier Longevity, Offers Insurance Industry New Models for Deeper, More Successful Relationships with Policyholders
BOSTON and TEL AVIV, July 7, 2021 – Assured Allies, the leading company in evidence-based successful aging innovation, today announced the close of its $18.3M Series A fundraise. New investors Core Innovation Capital and New Era Capital Partners co-led the round, with participation from Wilton Re, a leading provider of in force and reinsurance solutions. Existing investors LionBird Ventures and Harel Insurance also participated. Assured Allies is an insurtech company with a platform of technology and services that can predict and shift the aging trajectory, reduce the risk of age-related decline and help people get the most out of life.
As the global population ages, people are heading into their later years with higher expectations for quality of life, but without a plan to maintain their wellness. Medical research shows that there are powerful and effective ways to maintain wellness and avoid the rapid decline commonly associated with aging. By applying population health management techniques and predictive analytics, it’s now possible to pinpoint what’s needed to increase a person’s odds of successful aging at any given time.
“We learned from direct experience caring for our loved ones that the aging process can introduce a host of worries – from physical health to financial security and emotional wellbeing,” said co-founder and CEO Roee Nahir. “We created Assured Allies to address those worries proactively, before they became a problem. In the last three years we have made big strides toward a future in which people are empowered to age on their own terms. And the best is yet to come.”
The Series A funding will allow Assured Allies to accelerate delivery of its Age Assured program and continue to develop new successful aging innovations, based on the company’s patent-pending technology for predicting the aging trajectory and its proprietary aging score. Specifically, the company will be introducing an entirely new category of offerings for successful aging that combine wellness with financial products. The breakthrough solutions will help people get the most out of their retirement and be game-changing for the insurance industry.
“We know so much about how to prevent age-related decline and how to dramatically increase the chances of a longer healthspan – so that we can enjoy a high quality of life into old age,” said Assured Allies co-founder and Chief Product Officer Afik Gal, MD. “We now also have the technological capacity to apply that knowledge in a way that not only benefits individuals, but that is good for business as well.”
“Addressing successful aging is more than a business imperative. It’s a commitment to creating a better society,” said Kat Utecht, Managing Partner, at Core Innovation Capital. “Assured Allies is uniquely positioned to bring innovative, tech-driven approaches to market, with the perspective to design solutions that provide value to both consumers and financial partners focused on the retirement years.”
“We believe there will be an economic return as well as a social return on investing in a future in which people can age successfully. Moreover, we were compelled by the progress Assured Allies has made developing an algorithmic approach to predicting the course of aging,” said Ran Simha, Managing Partner of New Era Capital, the Tel Aviv and Boston-based VC firm. “We founded our firm based on the belief that technology has the power to create a better future. Assured Allies will be instrumental in bringing that vision to reality.”
Assured Allies is hiring from its dual headquarters outside of Boston and Tel Aviv, with roles across marketing, user experience, data science, product and engineering in addition to other roles. The company is part of the thriving Boston “Longevity Hub” and is contributing to the latest developments in predictive analytics, machine learning and AI in both Boston and Tel Aviv.
Age Assured Program
In 2020, Assured Allies introduced the Age Assured program in partnership with long-term care insurance (LTCI) carriers. Provided as a no-cost benefit, the membership program offers personalized support for policyholders seeking to live independently as long as possible. Assured Allies recently announced a partnership with LTCG to scale up delivery of the end to end program, which offers existing policyholders with a collection of services, including case management, fall prevention support, and caregiver training. The Age Assured program not only improves quality of life in the short term, it can reduce the risk of rapid decline and the costs associated with aging – a win for both individuals and insurance carriers. By the end of this year, Assured Allies expects to have more than 20,000 lives under management in the Age Assured program.
About Assured Allies
Founded in 2018, Assured Allies is on a mission to help people get the most out of life while also making longevity financially sustainable. Assured Allies is the leading provider of evidence-based successful aging innovation with deep expertise in data science, medical insights on aging and program management.
Co-founders Roee Nahir and Afik Gal, a medical doctor, were inspired to create Assured Allies based on their own experiences as caregivers to aging family members. They gathered a diverse team of physicians and data scientists, social workers and experts on aging, united by their mission to help people age successfully, on their own terms. Assured Allies has an extensive network of industry partners in long-term care, insurance and a range of service providers. Assured Allies is headquartered in Boston and has an office in Tel Aviv.
For more information about the company, visit www.AssuredAllies.com
For more information about the Age Assured program, visit www.Assured.care