The tool that Breathe Life developed takes the form of an online application where customers answer a series of dynamic questions to obtain an instant quote on insurance products. This allows life and health insurers, distribution organizations, and advisors the opportunity to gain access to customers in a much more cost-effective manner, making it more beneficial for them to write policies for that market segment.
Part of Breathe Life solutions also includes tools for managing general agents (usually the brokers) that can be used to further develop their digital marketing strategies, target and pursue new customers, and distribute products.
Breathe Life appears to be a front runner amongst young startups looking to revolutionize the insurance industry. In fact, the middle market that the company is targeting can generate approximately $12 billion in revenue to insurers, based on a September 2017 report from Accenture. With the successful launch of its new module, Breathe Life is looking to capitalize on these potentially large profits.