Integrity Life Raises $43 Million

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Integrity Life has announced that it secured $43 million in its recent series B round of funding.

A statement from the insurer says there was a strong interest in the raise, that took place before and during Covid-19.

“Given the instability of the global economy, this significant investment is being viewed by the market as further endorsement of the importance of Integrity’s digital-led positioning,” the statement adds.

Eric Dodd…marrying the convenience of  technology with an empathetic approach…

It says the majority of the capital has come from institutional funds managed by Schroder Investment Management (Switzerland) AG, a member of the Schroders group, with support from existing institutional shareholders Leadenhall Capital Partners and Daido Life, and smaller parcels coming from Australian and international investors.

It states that the money will be used to support the expansion of operations and continued development of its digital-led insurance offering.

Chairman Eric Dodd, says of the investment that the company is thrilled to have the confidence and backing of Schroders, which has  “…recognised that our approach to life insurance in Australia is changing the game”.

“Our ethos of ‘digital when you want it, human when you need it’ allows us to marry the convenience of technology with an empathetic approach…”

He says that in an “industry that is crying out for innovation” the company is excited that this injection “…will enable us to bring more Australian firsts and step-change improvements to both the financial adviser and customer experience”.