The news that insurtech firm, LifeBid, has opened crowdfunding investment in its digital platform to the wider life insurance and financial services community attracted strong interest this week\u2026<\/h3>\n<\/div>\n<\/div>\n
Insurtech firm, LifeBid<\/a>, has opened crowdfunding investment in its digital platform to the wider life insurance and financial services community, encouraging advisers to invest alongside its strategic investors on the same terms.<\/p>\n LifeBid\u2019s digital platform, as previously reported by Riskinfo, is designed, once launched, to enable financial advisers and insurers around the country \u201c\u2026to seamlessly engage, educate, advise and manage clients\u2019 life insurance needs, while cutting costs to serve by up to 90%.”<\/p>\n In August, the company launched a crowdfunding campaign<\/a> following a strategic co-investment of $700K from industry partners in conjunction with crowd funding platform, Stride Equity (see: LifeBid Launches Crowd Funding Campaign<\/a>).<\/p>\n LifeBid founder, Brett Wright<\/strong> is now opening the offer to advisers until October 6, unless its maximum allocation is reached before that date.<\/p>\n …advisers who invest will receive priority onboarding and a lifetime discount<\/p><\/blockquote>\n Wright says he wants the industry to be “…shareholders, beneficiaries and the driving force behind LifeBid\u2019s industry solution to fix life insurance advice,” adding that advisers who invest will receive priority onboarding and a lifetime discount.<\/p>\n Prior to the launch of the crowdfunding campaign the company had confirmed that over 2,000 advisers had registered their interest (see: LifeBid Releases Update<\/a>).<\/p>\n Wright is now encouraging advisers to view the offer document<\/a>, noting they can invest from as little as $750.<\/p>\n Strategic Investors<\/strong><\/p>\n Prior to opening its crowdfund offer, the firm had secured $700k in investments from strategic investors which include MBS Insurance<\/a>, Austbrokers Life<\/a> Managing Director, Ben Donald<\/strong> and well-respected risk focussed adviser, Katherine Hayes<\/strong><\/a>.<\/p>\n Hayes says she invested in LifeBid because it is “…working with a large cross section of industry partners, to build and deliver the first complete life insurance advice solution, to allow greater efficiency and profitability for advisers, whilst providing an enhanced service offering for our clients.\u201d<\/p>\n In a similar vein, MBS Insurance’s Partner and Co-CEO, Drew Burden<\/strong>, says the firm invested because it supports LifeBid\u2019s vision of greater connectivity between advisers, their clients and insurers across the new business, renewals and claims processes: “We see the solution LifeBid is developing making a significant difference to the industry\u2019s ability to provide life insurance advice and support more efficiently, whilst improving outcomes for our clients and more Australians,\u201d notes Burden.<\/p>\n Meanwhile, Donald says he sees LifeBid as the next evolution “…with Brett and his team delivering an impressive industry solution that will allow us to see more clients, more efficiently. I\u2019m investing in LifeBid because it\u2019s the technology solution that will accelerate our industry into the future.”<\/p>\n![\"\"](\"https:\/\/riskinfo.com.au\/news\/files\/2021\/11\/Brett-Wright-LifeBid-scaled-e1691457123888-250x300.jpg\")
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