Bestow
UnclaimedThe life tech platform for carriers to modernize workflows, launch faster, and lower costs.
Visit WebsiteReviews onTrustpilot
9 reviews trackedThe Bottom Line
Entry price
Paid plans only
Biggest pro
Significantly reduces time to market for new products (months vs. years)
Biggest con
Specific pricing details are not publicly available, requiring direct contact
TL;DR - Bestow
- End-to-end life insurance platform for carriers.
- Modernizes sales, application, underwriting, and administration.
- Accelerates product launch, reduces costs, and improves efficiency.
Pricing: Paid only
Best for: Enterprises & pros
3.7/5 across review platforms
What is Bestow?
Bestow provides an end-to-end life insurance technology platform designed for carriers to streamline their operations from sales to claims. It offers a comprehensive suite of tools for digital sales enablement, application processing, underwriting, policy issuance, administration, and claims initiation. The platform aims to accelerate product launches, reduce per-policy costs, and enhance the customer and agent experience through automation and data-driven insights.
The platform is built for life and annuity carriers looking to innovate and modernize their legacy systems. It helps them bring new products to market in months instead of years, achieve significant cost reductions, and improve conversion rates through a frictionless digital sales process. Bestow's intelligence suite further empowers carriers with actionable analytics, sophisticated data modeling, and predictive analytics to optimize performance, understand customer journeys, and make more accurate long-term risk decisions.
Bestow's offerings include a modern sales portal for agents, a multi-channel application experience, a sophisticated rules engine for underwriting, a streamlined underwriter workbench, digital checkout and bind processes, automated policy issuance, and a branded customer portal for self-service. It also features an Innovation Lab for ongoing research into data-driven solutions, including AI Underwriter Assist for parsing medical records and real-time API data delivery for fraud prevention.
Available on: Web
Pros & Cons
Pros
- Significantly reduces time to market for new products (months vs. years)
- Lowers per-policy costs and underwriting expenses
- Increases conversion rates through a digital sales process
- Empowers agents with modern sales and illustration tools
- Provides comprehensive data and AI-driven insights for better decision-making
Cons
- Specific pricing details are not publicly available, requiring direct contact
- Primarily focused on life and annuity carriers, limiting applicability for other insurance types
Ratings Across the Web
3.7(9 reviews)
What people say
“It was quick and easy. The price per month is a bit more than I expected.”, via Trustpilot
Ratings aggregated from independent review platforms. Learn more
Preview
Key Features
Digital sales enablement for agentsState-of-the-art illustration toolsModern, multi-channel distribution for applicationsSophisticated rules engine for underwritingStreamlined underwriter workbenchSmooth, digital checkout and bindAutomated policy issuancePowerful administration suite
Pricing
Paid
Bestow offers paid plans. Visit their website for current pricing details.
Reviews
3.7/5
Across 9 verified user reviews on Trustpilot
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Bestow FAQ
How does Bestow's platform help carriers achieve a 3-6 month average product launch timeline?
Bestow's platform accelerates product launches by providing a modern tech stack for building, testing, and launching digital underwriting programs quickly. It offers agile application suites and streamlined processes that bypass the traditional lengthy development cycles, enabling carriers to bring new offerings to market in months, not years.
What specific capabilities does the AI Underwriter Assist offer within the Innovation Lab?
The AI Underwriter Assist, developed in Bestow's Innovation Lab, is designed to instantly parse thousands of pages of applicant medical records. Its primary function is to help underwriters quickly identify and focus on crucial information, significantly streamlining the review process and enhancing decision-making efficiency.
How does Bestow's Data Optimization Suite utilize the Bevel Platform for marketing and customer insights?
The Data Optimization Suite leverages the Bevel Platform as a front-end marketing technology. It uses advanced identity technology for tracking and attribution to better understand customers, and employs out-of-the-box or customizable personalization models to activate customers and guide them to the right products.
Can Bestow's platform integrate with a carrier's existing legacy life insurance software and systems?
Yes, Bestow emphasizes a collaborative approach to ensure smooth implementation and integration with existing life insurance software, as well as current team and system needs. The platform is designed to work alongside a carrier's unique processes and controls.
What is the typical self-service rate for policyholders using Bestow's branded customer portal?
Bestow's intuitive, branded customer portal is designed to empower policyholders to self-service a significant portion of their needs, with capabilities to handle up to 97% of typical service requests without requiring direct agent or administrative intervention.
Beyond cost reduction, how does Bestow's Recommendation Engine tech specifically improve underwriting efficiency?
The Recommendation Engine tech drives cost efficiency by providing data-backed insights that optimize underwriting processes. This automation and integration of data fuel potential savings and contribute to a 3x increase in underwriting efficiency by helping underwriters make more informed and faster decisions.
Source: bestow.com