Insurtech Assured Allies raises $18.3m and will apply data and behavioural science to shift the aging trajectory toward healthier longevity.
Assured Allies, company working 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.
Longevity.Technology: Insurtech company Assured Allies has a platform of technology and services that can, it claims, predict and shift the aging trajectory, reduce the risk of age-related decline and help people get the most out of life. It hopes to leverage its platform to offer the insurance industry new models for deeper, more successful relationships with Policyholders.
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. With biotech investment and by applying population health management techniques and predictive analytics, it should now be 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 programme 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 could 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 Dr Afik Gal. “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 has dual headquarters outside of Boston and Tel Aviv; 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.
We’ll shortly be speaking with Dr Gal on shifting the aging trajectory and increasing the chances of successful aging – stay tuned!