Digital insurer Amplify Life Insurance, in partnership with EMC Life, has introduced Prosper IUL, an indexed universal life (IUL) insurance product tailored for digital-first consumers.
Prosper aims to streamline the process of obtaining permanent life insurance, enabling customers to apply, qualify and activate their policies.
The product features a digital onboarding system that allows for instant acceptance decisions for qualifying applicants.
This process is facilitated through an automated platform, easing the experience for both consumers and agents.
Prosper IUL is the inaugural offering in Amplify’s proprietary suite of products developed to meet varied client preferences and use cases.
The solution aims to enhance accessibility to permanent life insurance products among the ‘mass-affluent’ demographic.
EMC Life EVP – chief growth strategy and innovation officer Paul Rivard said: “Through our partnership with Amplify, a digital life insurance agency, we are offering a groundbreaking product and superior experience for customers. This collaboration supports our mission to improve lives. Together, we have raised industry standards and created a solution that truly impacts people. We are excited to see the Prosper product fulfil consumer needs and our partnership grow.”
Amplify chief operating and strategy officer Lu Ma stated: “We are thrilled to launch Prosper, in partnership with EMC Life. It expands our platform and product offerings, and enables us to better serve customers seeking long-term financial protection while setting the foundation for delivering ongoing value to them and their families.”
Based in the San Francisco Bay Area and launched in 2020, Amplify is available to consumers in all 50 US states.
