[Startup Interview] Jon Cooper, CEO, Life.io, USA
Life.io is a US-based startup that helps companies accelerate the development of their end-to-end digital client experience with the Life.io Solution Suite: Grow, Engage and Empower. Jon Cooper the startup’s co-founder and CEO elaborates.
Tell us a bit about your startup
Life.io is a customer engagement technology firm that helps companies accelerates the development of their end-to-end digital client experience with the Life.io solution suite. Our state-of-the-art digital suite integrates powerful engagement across the client lifecycle to reduce friction, convert sales, and optimize results.
Who are the founders and what are their professional backgrounds?
Jon Cooper is the CEO of Life.io and is responsible for overseeing Life.io's growth, strategy, and finances. Jon works closely with his leadership team to ensure that Life.io continues to deliver a highly differentiated and user-centric solution that is delivered to our carrier clients efficiently and scalably.
Prior to founding Life.io, Jon worked across the insurance and technology industries, most recently serving as the Chief of Staff at TriZetto (now Cognizant Healthcare Solutions) where he worked closely with the CEO to grow the business and position it for eventual acquisition by Cognizant for $3.2 billion. Jon has also served as Director of Operations at a 3 million-member health plan where he oversaw a large operations team, and as a consultant to insurance and financial services organizations for Oliver Wyman.
Mike Logsdon is COO of Life.io and responsible for overseeing client delivery, user support, and ongoing client success. Mike works closely with Jon and the Life.io leadership team in setting company strategy and product direction.
Mike has extensive experience scaling high-growth companies. Prior to founding Life.io, Mike worked for the Texas Pacific Group as part of TPG Biotech where he was responsible for helping it scale a key portfolio company. During his time with Elevance, he helped scale the team from 30 to 200 associates and helped the company prepare and file for IPO.
How is Life.io financed?
Private equity backed
What are – in your opinion – the dynamics of the insurance and financial services?
The insurance industry is under pressure from every angle – stagnant consumer demand for life insurance, new digital disruptors cannibalizing growth, and low interest rates eroding profits. In this environment, carriers are keen to find new ways to create demand and to differentiate from competition.
Why did you start Life.io? What opportunities did you see?
I've spent my career working in and around insurance companies. It became overwhelmingly apparent that there is no connection between insurance companies and their customers. Customers want an engaging experience and to buy and manage their insurance and annuities the same way they do their mobile banking or Amazon shopping experience — with a few clicks. Convenient and meaningful interactions are key, and Life.io exists to solve this problem. It's about creating the entire digital experience for consumers that makes engaging with products a delightful experience.
What problem or problems does Life.io solve?
We help insurance carriers build and transform their digital customer experience.
What gives Life.io the competitive edge?
Not only do we have years of experience in insurance but Life.io's has a deep expertise in engagement, UX/UI, behavioral economics, gamification, positive psychology, and data science which allows us to offer insurance carriers a highly intuitive digital end-to-end experience that reduces friction for clients and advisors, making insurance easier to buy and service, and a delight to own.
Who are your customers?
What does Life.io need in order to grow?
Life.io is looking to build better market awareness about several new offerings we brought to market in 2020. These capabilities are especially important in the midst of the digital acceleration brought on by the pandemic.
What is your growth strategy?
Life.io growth comes from both direct channels as well as several select channel partners
In which markets are you looking to establish your presence?
We have a solid customer base in North America and many countries around the world. We are looking to grow in our existing markets as well as expand in select markets in Asia and Western Europe.
What are your plans for the coming 12 months?
Continue to build our customer base and deliver a world-class digital customer experience.
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