PALO ALTO, Calif., Nov. 14, 2017 /PRNewswire/ -- Ladder, the company that introduced instant, simple and smart life insurance in California earlier this year, today announced its plans to expand across the U.S., starting with Texas. Today, consumers in California and Texas can go to www.ladderlife.com to calculate their needs, get a quote in seconds, and, once approved, secure fully-underwritten coverage in minutes, versus the average of eight weeks associated with the traditional process. Ladder is actively applying its technology to the life insurance process in other states and will be available in the vast majority of states across the country by the end of 2017.
"We're thrilled to bring Ladder to Texas as the first step in our nationwide expansion," says CEO Jamie Hale. "Ladder is fundamentally changing life insurance, starting with a simple process for today's self-directed consumers who have come to expect digital, on-demand solutions for nearly every other area of their financial lives."
The Ladder team has designed proprietary technology that uses data analysis to help eliminate the complexities and barriers to entry associated with the traditional life insurance process. While the traditional process is lengthy, typically requiring in-person meetings with agents, physical paperwork and an industry average eight week wait time to get coverage in place, Ladder's research indicates consumers can use its product to get fully-underwritten coverage up to 10,000 times faster than the traditional process.
Because of its full stack approach, the company is able to quickly iterate on its product to introduce new features to further streamline the process for consumers. In April 2017 -- just 100 days after the company's launch -- Ladder introduced dynamic life insurance, a functionality that allows consumers to easily adjust their life insurance policies at any time, based on the changing needs of their lives. The company also integrated with the Alexa and Google Assistant platforms so consumers can get life insurance questions answered and get a quote whenever it is convenient for them using a conversational user interface.
Since Ladder's launch in California in January 2017, the company has received rave reviews from its customers who appreciate how Ladder has made getting term life insurance fast and convenient. Ladder sees the majority of customers accessing Ladder on mobile devices and more than 60% of customer interactions taking place outside of business hours -- stats which underscore that modern consumers welcome a life insurance product they can engage with when it works for their busy schedules.
For more information on Ladder, to get a quote or to receive an email when Ladder is available in your state, visit www.ladderlife.com.
Ladder is life insurance built to be instant, simple, and smart. Founded in 2015, Ladder has designed a life insurance product to serve today's financially savvy consumer. For more information visit: www.ladderlife.com/about.
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