Making Life Better — 200 Days and $300M
For decades, the process of buying life insurance has been antiquated, tedious, and time-intensive. We founded Ladder because life insurance is too important to be left behind. People deserve to see innovation in life insurance, so they can get the coverage they want and need easily.
Over the last six months, Ladder has delighted our customers. How? We’ve used technology to remove many of the hurdles that make purchasing life insurance so frustrating.
The easiest way for us to measure our customer delight is our growth. One hundred days after launch, our customers received more than $100 million of coverage. Now, at 200 days, we are proud to announced that we have tripled that to more than $300 million of coverage!
The most important way for us to measure our impact is the stories we’ve heard from our passionate Ladder customers. Joe O. told us: “I hit the go pedal and was so impressed. Ladder helped me get $1M worth of coverage in less than 10 minutes.” Hugh L. was excited to share that “getting a policy was a piece of cake, I did it all on my iPad, Ladder is legitimately revolutionizing the industry.” We have even heard stories from customers working in the insurance industry who had not gotten coverage until Ladder. We could go on and on. Our customers and their stories are what drive the Ladder team to keep up the pace of innovation and why we have initially focused on two key areas: instant and dynamic.
Ladder is instant
Getting life insurance can get bumped to the bottom of the priority list when life gets busy. Who wants to find an agent and talk on the phone for hours? Technology has made practically every other process a 24/7 digital solution. Why should life insurance be any different? With Ladder, people are able to get their insurance secured whenever and wherever they have a spare moment, even in the wee hours of the morning.
In fact, we’ve found that well over 60% of Ladder’s transactions are done outside of business hours — evidence that points to our need for flexible,
digital solutions. Furthermore, our customers are securing coverage fast. Everyone can apply to receive an instant decision — no more waiting 6–8 weeks.
Our customers are also mobile. More than 66% of our policies are being purchased on mobile devices — something that was not possible before Ladder. It’s life insurance in the palm of your hand.
Ladder lets you scale your coverage up or down as your life needs evolve
We set out to make life insurance instant, simple and smart. We are continuously iterating our product to make this process even simpler, and better. Because we listen to our customers, we delivered innovations like dynamic life insurance, launched in April. Their lives are dynamic; they want their life insurance to be as well.
Your insurance needs change over time. If you get married and have more kids, you may need to apply for more coverage. But if retirement is on the horizon, or your children have graduated from college and are off on their own, you can reduce your coverage (and your monthly payment) of your policy at any time.
We’re proud that Ladder was created and launched in California, but we know our current and future customers want us to grow to cover all parts of the U.S. We listen to our customers and look forward to expanding to serve them in several other states in the coming months. Make sure you stay in the loop by following us on Facebook, Twitter, and Medium!