Michael Konialian, Co-Founder and CEO of Modern Life: $15 Million Raised to Build the Tech-Enabled Insurance Brokerage of the Future

In today's episode of Category Visionaries, we speak with Michael Konialian, Co-Founder and CEO of Modern Life, a tech-enabled insurance brokerage that’s raised over $15 Million in funding, about how a lack of clarity and access to information in the life insurance space can leave people at a loss, and how Modern Life is hoping to bring a better model of insurance brokerage to the sector. By partnering with leading carriers, putting advisors first, and deploying strategic data analytics to help guide clients to the right choices, Modern Life helps everyone make complex financial decisions with care.

We also speak about Michael’s background and journey to becoming a CEO and Co-Founder, the challenges of the insurance sector and the potential for technology to radically improve things, why advisors will always remain key to the business model, and how the COVID-19 pandemic has changed everyone’s attitude to integrating new technologies.

 

Topics Discussed:

• Michael’s career background in the brokerage and technology space, consulting, sales and startups
• The personal experience with life insurance that helped Michael identify the need for change in the sector
• The power of data in the insurance brokerage space, and why more information is helping us make better decisions than ever before
• How the pandemic drove the digital transformation of the insurance industry, and what it means for brokers and customers alike
• The regulatory challenges confronting startups across multiple sectors, and why getting ahead of the red tape really matters
• Why Modern Life envisions building a long-term community between the advisors at the center of the insurance industry

 

Favorite book: 

The Lean Startup