Fast-growing insurtech startup makes strategic leadership hire to help disrupt an industry in dire need of innovation
SAN FRANCISCO – December 12, 2018 – Today, Ethos, the company making simple, ethical life insurance, announced the appointment of its first Vice President of Insurance, Phil Murphy. At Ethos, Murphy will oversee product development and growth, as well as customer engagement strategy. He joins after successful tenures at leading insurance companies with a diverse background in both the direct and reinsurance, as well as experience in underwriting and as an agent.
Murphy’s appointment follows Ethos’ recently closed Series B financing which brings the company’s total funds raised to more than $46M in less than a year. In just five months since launching out of stealth in June 2018, the company has seen 400-percent growth in revenue, customers and applications.
“We're excited to have Phil join us in our mission to create the next great life insurance company,” said Peter Colis, co-founder and CEO of Ethos. “With Phil's experience across all aspects of life insurance and his enthusiasm for our vision to fundamentally change the way people get life insurance, Ethos is well positioned for our next big stage of growth.”
Murphy brings over 25 years of experience from some of the life insurance industry’s most influential companies, including leadership positions at Munich American Reinsurance Company, Chase and Allstate. At Ethos, he will focus on leading next generation product development, strategic company growth and customer engagement.
“I’ve worked in life insurance my entire career and understand the potential this industry has to be great. I fully believe the industry needs to undergo significant change in order to regain its place with today’s consumers,” said Phil Murphy, vice president of insurance at Ethos. “Ethos is challenging the norms of the traditional model in the best interest of the consumer and I am thrilled to help the company achieve that vision.”
Ethos is bringing a fundamentally different customer journey to life insurance. The process for getting a life insurance policy with Ethos is fast, easy and inexpensive. Most people can apply and qualify for a policy after a ten-minute online application versus the ten weeks it takes through a more traditional process. There is always a non-commissioned licensed agent available to give unbiased guidance.
By applying data science and predictive analytics to determine an individual’s life expectancy, more than 99 percent of Ethos’ customers do not require a medical exam or blood test to get a policy. The company partners with life insurance industry leaders, including Assurity Life and Munich Re, to help deliver quality life insurance products to its customers. Visit www.getethos.com to learn more.
Ethos is a new kind of life insurance built for people who don't have time for fine print, extra doctors appointments or hidden fees. Ethos uses the power of technology and predictive analytics to modernize the life insurance process and align products with what families want and need during critical times in their lives. An application is fast and easy, turning a process that used to take weeks into a ten-minute experience for most customers. Backed by Sequoia Capital, Accel, Google Ventures, Stanford University and Arrive, a subsidiary of Roc Nation, Ethos is headquartered in San Francisco and licensed in 49 states. To learn more, visit www.getethos.com.