Leading Insurtech Quility Announces Significant Investment from F&G

News provided by

Aug 10, 2023, 16:10 ET

F&G's investment will expedite Quility's advancement of its proprietary insurance technology and automation platforms, as well as its products.

ASHEVILLE, N.C., Aug. 10, 2023 /PRNewswire/ -- Quility, a leading insurtech company, today announced a significant investment from F&G Annuities & Life, Inc. ("F&G") for a minority stake in Quility. F&G is a leading provider of insurance solutions serving retail annuity and life insurance customers and institutional clients. The investment is targeted at accelerating deployment of Quility's advanced technology, automation, and leads platforms – removing barriers to make life insurance more accessible for agents and clients alike.

Quility offers a frictionless experience for insurance agents, insurance distribution companies, and the clients they serve. Starting from quote to underwriting to policy placement, Quility fast tracks the application process in as little as 10 minutes.

F&G's investment will advance Quility's proprietary insurance technology and automation platforms:

Navigator: Quility's user-friendly platform provides a one-stop shop for agents to instantly offer a broad range of insurance products. Navigator's pre-underwriting and quoting tools allow agents to confidently select best-fit insurance solutions for clients.
Switchboard: Quility's automated client engagement platform accelerates agents' workflow and the prospect pipeline. From initial outreach with potential clients to appointment setting, it offers an omnichannel purchasing and nurturing experience.
Data Products: Quility will drive true AI and machine learning through its proprietary data products and advanced data science offerings.

The investment will also enable Quility to further expand its sales channels through its Symmetry Financial Group, Quility B2B (including wholesale and affinity), and direct to consumer (DTC) distribution networks.

"F&G's investment will expedite the innovative technology that has become synonymous with the Quility brand," said Brandon Ellison, co-founder and CEO of Quility. "This is a meaningful step in our mission to transform the way life insurance is bought and sold."

"F&G's investment in Quility aligns with our own diversified tech-enabled strategy, while providing Quility the capacity to drive growth and secure its position as a leading insurtech company," said Chris Blunt, CEO of F&G Annuities & Life, Inc. "We are excited to partner with Quility as they embark on developing an innovative operating platform built with Generative AI capabilities to enhance and simplify the end-to-end insurance policy experience for agents and customers."

Broadhaven Capital acted as the exclusive financial advisor to Quility through this transaction with Norton Rose Fulbright acting as Quility's legal counsel.

About Quility

Quility empowers agents with an industry-leading sales enablement platform and a suite of proprietary, fully digital insurance products, creating a frictionless experience from quote to underwriting to policy placement. Quility makes the insurance process easy for industry professionals and their clients. With Quility, life insurance doesn't have to be prickly. To learn more visit quility.com.

About F&G

F&G Annuities & Life, Inc. is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of insurance solutions serving retail annuity and life customers and institutional clients and is headquartered in Des Moines, Iowa.

SOURCE Quility