Insurtech leader ETHOS opens India office in Bengaluru
Bengaluru: Ethos, one of the largest term life insurance providers in the U.S., has announced that it is setting up an India office in Bengaluru. With a vision to offer growth and career opportunities, and to expand its technology innovation, the India office will be focused on engineering research and development, data analytics, data science, and operations, with a significantly large business delivery team.
Ethos follows a technology-first approach that integrates complex decision flows with a radically simple consumer experience, in order to get high-quality insurance closer to its customers. In the span of five years, the company has become the insurtech leader that continues to transform the life insurance space across 49 states in the U.S. Headquartered in Austin, it has set up offices in key technology and startup hubs including San Francisco, Seattle and Singapore. With almost 90% instant approvals, Ethos has been growing at a significant rate and increasing its year-over-year momentum, and now aims to further expand its technology and product offerings by capitalizing on the vast tech, IT, and data analytics talent pool available in India.
Commenting on the launch of its India operations, Lingke Wang, Co-Founder and President, Ethos said, “We are excited to start a multi-function facility here in the technology hub of India. A lot of our top leadership is from India and after extensive research, we decided to set up an office in Bengaluru, as the city is fast emerging as a center for exceptional talent. We believe that this office will be critical for our next growth phase. India is home to one of the largest tech and analytics talent pools, and we plan to set up a significant business delivery team here, as well as build a team of experts that will help transform the lives of millions through our mission of making life insurance accessible and affordable for all.”
Hitesh Gossain, General Manager-Growth and Strategy, Ethos India said, “India’s startup ecosystem and niche capabilities such as data science and analytics have gained global recognition. In a strategic move, Ethos has established its footprint in India through a full-stacked office in Bengaluru and has also looped in high-quality talent that will provide support in product innovation and improve customer experience. We are excited to set up the foundation with a strong team that brings in vast experience of working with some of the leading brands from the startup ecosystem. Our aim is to hire more aggressively throughout 2022 and build a team of top-notch experts who will contribute to almost 30% of the global workforce for one of the fastest-growing insurtech startups globally.”
As an insurtech company, Ethos has secured significant funding from leading investors in the U.S. and continues to gain customer trust with its unique modern tech approach. Ethos was founded with the goal to simplify estate-related decisions and provide life insurance online in the U.S. The company issued $13 billion in life insurance coverage last year and was valued at $2.7 billion in 2021. Ethos has raised over $400 million from an all-star cast of investors, including – Softbank Vision Fund 2; Sequoia Capital; Accel; GV (formerly Google Ventures); General Catalyst; Jay-Z’s Roc Nation; and the investment vehicles of stars Will Smith and Robert Downey Jr. Its overall revenue and users grew by more than 600% year-over-year in 2021.
With a strong focus on people culture, Ethos is an equal opportunity employer that values diversity and inclusion and hires applicants who understand, embrace, and thrive in a multicultural world.