ETHOS, leader in insurtech, opens an office in India in Bangalore – India Education | Latest Education News | World Education News
Bangalore: Ethos, one of the largest providers of term life insurance in the United States, has announced that it is opening an India office in Bangalore. With a vision to provide growth and career opportunities and expand its technological innovation, the India office will focus on engineering research and development, data analytics, data science and operations, with a significantly large commercial delivery team.
Ethos follows a technology-driven approach that integrates complex decision flows with a radically simple customer experience, to bring high-quality insurance closer to its customers. Within five years, the company has become the insurtech leader that continues to transform the life insurance space in 49 US states. Based in Austin, it has set up offices in key tech and startup hubs including San Francisco, Seattle and Singapore. . With nearly 90% instant approvals, Ethos has been growing at a significant rate and building momentum year over year, and now aims to further expand its technology and product offerings by capitalizing on the vast talent pool in technology, IT and data analytics. available in India.
Commenting on the launch of its operations in India, Lingke Wang, Co-Founder and Chairman of Ethos, said, “We are delighted to start a multifunctional facility here in India’s technology hub. A large portion of our leaders come from India and after extensive research we decided to set up an office in Bangalore as the city is becoming a hub of exceptional talent. We believe this office will be essential for our next phase of growth. India is home to one of the largest talent pools in technology and analytics, and we plan to establish a strong service delivery team here, as well as build a team of experts who will help transform lives millions of people through our mission to make life insurance accessible and affordable for everyone.
Hitesh Gossain, Managing Director of Growth and Strategy at Ethos India, said, “The Indian startup ecosystem and niche capabilities such as data science and analytics have gained global recognition. In a strategic move, Ethos has established its presence in India with a full office in Bengaluru and has also brought in high quality talent who will provide product innovation support and enhance customer experience. We are excited to build the foundation with a strong team that brings extensive experience working with some of the biggest brands in the startup ecosystem. Our goal is to hire more aggressively throughout 2022 and build a top-notch team of experts that will contribute nearly 30% of the global workforce for one of the insurtech startups to fastest growing in the world.
As an insurtech company, Ethos has secured significant funding from leading investors in the United States and continues to earn the trust of its customers with its unique modern technology approach. Ethos was founded to simplify estate decisions and provide online life insurance in the United States. The company issued $13 billion in life insurance coverage last year and was valued at $2.7 billion in 2021. Ethos has raised more than $400 million from an all-star investor , of which – Softbank Vision Fund 2; Capital Sequoia; Accelerate; 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 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 candidates who understand, embrace and thrive in a multicultural world.