Dayforward has acquired Commercial Travelers Life Insurance Company to enhance its national expansion and product offerings, supported by a recent $25 million funding round led by AXA Venture Partners.

Information on the Target

Dayforward is a pioneering digital life insurance company designed specifically for modern families. Launched in 2021, Dayforward aims to simplify the life insurance process, making it straightforward for families to secure financial stability. Recently, the company announced its acquisition of Commercial Travelers Life Insurance Company (CTLIC), a well-established carrier founded in 1883. This strategic move not only marks a significant milestone for Dayforward but also facilitates its national expansion plans while diversifying its product offerings.

Industry Overview in the Target’s Specific Country

The digital insurance market is witnessing rapid growth in the United States, driven by advancements in technology and changing consumer preferences. More families are seeking convenient, tech-enabled solutions for their financial security. The life insurance segment, in particular, has been undergoing a transformation as companies adopt digital platforms to enhance customer experience and streamline processes.

In recent years, a shift towards paperless and online transactions has emerged, enabling insurers to reach broader audiences while reducing operational costs. Major players in