Bestow sets the standard as the leading platform for the Life and Annuity Industry

The company announces Bestow Labs, a team focused on developing AI-native products for insurers

DALLAS, July 29, 2026 /PRNewswire/ -- Bestow, the leading platform for the life and annuity industry, today announced Bestow Labs, a dedicated team pursuing ambitious AI-native products for the industry. The announcement builds on a period of rapid expansion for the company, which now supports an expanded portfolio of products in one place — further reinforcing its position as the platform carriers leverage as the industry further digitizes and evolves.

That evolution is playing out against a widening gap between what carriers want to offer and the technology they rely on to deliver it. Deloitte's 2026 Global Insurance Outlook identifies legacy systems as a continuing top focus area for insurers, pointing to fragmented data and outdated infrastructure as key barriers to scaling AI effectively.

Bestow is the platform closing that gap. It supports carriers across the entire policy lifecycle, from new business through policy administration, on infrastructure designed for a better experience for both clients and agents. Its architecture is modular by design, allowing carriers to adopt what they need today and expand at their own pace, without re-platforming to add new capabilities tomorrow. Bestow turns data into insights that directly inform program changes to improve operational efficiency, policyholder experience, and placement rates. As a result, carriers have seen conversion rates climb by as much as 300%.

"The carriers who win in the coming decades won't be the ones who bolt AI onto old systems — they'll be the ones who invest in a platform architected for the future," said Melbourne O'Banion, co-founder and CEO of Bestow. "That's what we've built. Many top carriers are preparing for a new era, which is why they're choosing us. The longer they run and expand on our platform, the more value compounds, and the wider the gap grows between them and everyone else still stitching together point solutions."

Bestow Labs opens the company's AI-native frontier

Bestow Labs is building AI-native solutions to address the industry's most significant challenges, continuously expanding what Bestow's platform can do. Labs operates with full separation from Bestow's production systems, so experimentation can take place without impacting the critical and regulated infrastructure carriers depend on today.

"AI is integrated thoughtfully across our offerings, in ways that reflect what carriers need and how they want to work," said Jonathan Abelmann, co-founder and President of Bestow. "Labs is where we go further. It's the space to build what wasn't viable even a year ago, using the most advanced AI-native approaches available, without putting a single component our carriers depend on today at risk."

Every AI capability at Bestow is built on a foundation of transparency, security, human oversight, and a commitment to fair, consistent consumer outcomes. Full details are available in Bestow's AI Transparency Statement.

Bestow expands what modern means for carriers

Bestow's platform has set the pace for what the modern life insurance purchase experience should feel like, with intuitive applications and checkout flows. Integrated illustration tooling brings that high quality experience standard to a part of the journey that has historically been complex to navigate. Agents move from quote to illustration to application to bind — all without ever leaving the platform, and carriers configuring indexed universal life products have a tool that makes complex projections approachable rather than intimidating. For experienced producers who have established preferred tools, Bestow offers flexible capabilities so that these experiences are low friction, no matter the starting point.

Furthermore, Bestow's platform now supports an expanded portfolio of products with term, whole life, and indexed universal life. Each new line runs on the same underlying platform, reinforcing that carriers aren't adopting a transactional tool built for one product, but infrastructure built to grow with them.

Bestow strengthens its leadership bench and continues to scale

Bestow's platform continues to scale alongside strong market demand. The company has grown ARR more than 100% year over year for three consecutive years, backed by senior leadership hires across revenue, marketing, and AI. Cindy De Armond joined as Chief Revenue Officer from Accenture. Meagan Ward joined as Chief Marketing Officer from Addepar. Chad Hersh joined as Head of AI Solutions from Amazon to lead Bestow Labs' inaugural product offering, set for release later this year.

About Bestow

Founded in 2017 by Melbourne O'Banion and Jonathan Abelmann, Bestow is the leading platform powering the life insurance and annuity industry. Designed to scale seamlessly, Bestow's modular architecture supports carriers across the entire policy lifecycle, from digital new business through modern policy administration. Bestow is trusted by top carriers, including Nationwide, Transamerica, USAA, Sammons Financial Group, and Equitable. The company is backed by leading investors, including Goldman Sachs, Valar Ventures and Smith Point Capital. For more information, visit bestow.com.

SOURCE Bestow Inc.