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HomeStartupDundas Life is changing how life insurance is purchased online in Canada

Dundas Life is changing how life insurance is purchased online in Canada

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Life is full uncertainty. Unexpected events can happen at any time, which is why families should consider getting insured. Life insurance is a way to provide security in the event that one or more family members pass away, and their income is lost. Life insurance is recommended for everyone to avoid the negative consequences of such an unfortunate event. Fortunately, there are numerous insurance companies today. While selecting a reliable and trustworthy platform to get insurance may be difficult, several platforms have been put in place to make this process simple. Purchasing insurance has become much easier thanks to companies like Dundas Life.

Dundas Life is a digital brokerage that helps families to find the right life insurance protection online.

The company achieves this by reducing the complexity, paperwork, and compliance in the sales process and offering coverage from Canada’s best-in-class life insurance companies. Through this process, the company helps its customers to find the best possible rate of their choice. They compare policies from top life insurance companies and one of their unique features is that prospective clients can now apply for insurance from the comfort of their homes.

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Dundas Life was founded by Greg Rozdeba, Steve Sinclair, and Martin Ochwat. Greg is the CEO and has a background as a sales leader in the insurance space. He previously helped his last insurance company to raise a $5m+ Series A round. Steve has been a life insurance broker for almost a decade. He’s helped to train and manage dozens of life insurance brokers during his career. Martin is a product-led growth expert. He manages marketing and technology at Dundas Life. He is also the holder of 2 patents related to ad buying. The founders previously had high-paying six-figure jobs in the insurance and marketing space. They left these jobs to pursue Dundas Life.

Greg and Steven were at one point some of the highest-producing life insurance broker recruiters in Canada. They spoke to over 10,000+ brokers in Canada and the US to find the largest pain points for selling life insurance online. Using these insights, they decided to startup Dundas Life and build a digital brokerage.

From then on, the team spent the last 2 years selling life insurance via its digital brokerage. Dundas Life built tools that not only increased broker efficiency but are focused on compliance. Steven works as the company’s internal regulatory tsar with the help of Greg’s understanding of broker tooling and Martin’s creation of an efficient lead servicing pipeline via marketing, along with the technology that makes brokers more efficient.

The team discovered that as many as 50% of Canadians are underinsured. The reason for this is not because they do not want life insurance, but the buying process has changed. Consumers now expect more transparency and digital offerings in getting coverage. However, many would also like to speak with a life insurance agent to answer their questions, on their terms. Dundas Life’s platform and product offering help to address the modern customers’ needs in delivering an exceptional life insurance buying journey.

The company is aware that people need Dundas Life because they’ve sold 100s of life insurance policies annually and the company’s brokers are 10x more productive than an average Canadian broker.

Dundas Life’s customers are Canadians ages 20-80 who have dependents or loved ones that depend on them. The company has helped 100s of customers to get life insurance coverage for their mortgages, children, and families, and to cover their funeral/final expenses. Customers love the digital experience along with the transparency that comes with comparing rates from different life insurance companies online. This is a unique feature that Dundas Life offers. The company is profitable, self-sufficient, and bootstrapped and is currently not looking for investors, but would consider external investment for the right partner and opportunity (if it arises). However, the company is always open to the support of its customers to help spread the word about them to their families and friends who may need coverage.

Modern consumers expect reliable life insurance advice paired with life insurance options from top insurers helps to protect their loved ones. Dundas Life’s insurance platform allows clients to shop for life insurance digitally. Customers can compare insurance quotes from top carriers with full pricing transparency. They can also apply for policies online or choose to engage with an advisor for personal support. An end-to-end digital process supported by a qualified advisor makes buying financial services an intuitive experience that builds consumer confidence.

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Having a team of two founders that spent years in the life insurance space, the company has directly seen the pitfalls and inefficiencies of the “old way” of buying life insurance. This experience has built a better understanding of life insurance and catalyzed the decision to create a better path forward in Dundas’ life.

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