Jay-Z, Will Smith & Robert Downey Jr. Are Backing Up Life Insurance Startup

Sequoia Capital gets support from some of the industry’s biggest figures including Hov, Kevin Durant, and Will Smith.

By: Shirley Ju @shirju

(AllHipHop News) You can’t really lose when names like Jay-Z, Will Smith, Kevin Durant and Robert Downey Jr. are backing you up.

Ethos, a company that prides itself in making life insurance as accessible and affordable as possible, officially came out of secrecy with an $11.5 million investment led by one of the nation’s biggest venture firms called Sequoia Capital.

The investors?

Jay Z’s entertainment company Roc Nation, Kevin Durant’s Durant Co., Will Smith’s Smith Family Circle, and Robert Downey Jr.’s Downey Ventures.

With Ethos, Chief Executive Officer Peter Colis guarantees “the latest technology and predictive analytics.”

He states “99% of our customers had no required medical exam, blood test or traditionally lengthy approval process. Using software, we can help large numbers of customers at scale, regardless of their policy size.”

Interestingly enough, it seems these prominent figures in entertainment are the only ones partaking in the new venture, with the life insurance market steadily declining over the years.

With the rise of technology and wide array of funds available, consumption of life insurance products simply aren’t cutting it anymore.

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