In an effort to feature more insurtechs, Digital Insurance has modified the format of our Meet the insurtech series.
Melbourne O'Banion, CEO & Co-founder of Bestow, shared the following responses, which have been lightly edited.
What's the origin story of the company?
Life insurance carriers often have outdated systems, clunky software, and technological inefficiencies – all of which are collectively holding the industry back. Bestow changed that. By launching a unified platform built for speed, scalability, and seamless integration, we rewrote the rules for underwriting, policy administration, and product innovation. Today, several leading insurers rely on Bestow to power their digital transformation and launch new products quickly.
When was it founded and/or when was the product launched?
Bestow was founded in 2016 and launched its first product in 2017, focused on simplifying application and enrollment. Since then, the platform has grown into a comprehensive technology solution for transforming life insurance carriers.
Can you tell me about the founders/founding team?
Co-founder Jonathan Abelmann and I both brought deep entrepreneurial experience to Bestow, with roots in finance, tech, and yup, you guessed it... insurance. The successful track record of scaling industry-specific technology platforms helped us attract top talent - in particular, insurance experts who had long sought to disrupt the industry. The vision for a better way to serve both carriers and end consumers permeates everything Bestow builds.
Any meaning behind the company name?
The name Bestow reflects our core belief: life insurance is a gift of financial security. Our technology helps carriers extend that protection efficiently and seamlessly to more people.
How many employees?
160 and counting.
Where is the company based?
Bestow is headquartered in Dallas, Texas, with employees across 34 states.
What pain points is the technology trying to solve?
Bestow addresses the inefficiencies of legacy insurance systems by providing a modern, end-to-end technology platform. Our solutions help carriers:
- Streamline Operations: Replace decades-old, homegrown software and disparate point solutions with a single, integrated platform.
- Reduce Costs: Optimize underwriting, policy issuance, and administration to lower operational expenses and improve margins.
- Unlock Growth: Accelerate product development, expand distribution, and enhance the customer experience with real-time data insights and automation.
- Improve Flexibility: Bestow's modular platform adapts to carrier needs, supporting seamless integration and scalability.
What funding rounds has the company had?
Bestow closed a Series D funding round in May 2025 co-led by Goldman Sachs and Smith Point Capital to fuel the development of new products and services and help accelerate the expansion of Bestow's platform in the life and annuities space. Bestow also plans to increase its workforce to meet growing enterprise demand.
What's ahead?
Bestow is focused on expanding its platform capabilities and deepening relationships with existing carrier partners. In 2025, we will introduce new products, enhance our technology suite and onboard new partners.
