Ethos Technologies (LIFE) 2026 Baird Global Consumer, Technology & Services Conference summary

Business performance and growth

• Achieved over 50% annual growth for three years, with Q1 growth exceeding 100% and full-year guidance at 45%.

• Operates with EBITDA and cash flow profitability, and positive unit economics by month two of a policy's life.

• Holds a low single-digit share of the U.S. life insurance market, available in 49 states.

• Direct business grew over 130% year-over-year, driven by marketing and improved unit economics.

• Long runway for above-market growth rates, with most growth from existing product sales.

Technology and platform differentiation

• Operates a vertically integrated, fully digital, proprietary technology platform for underwriting, administration, and distribution.

• Processes around 200,000 data points per client and applies 40,000 rules per applicant for instant underwriting.

• Platform serves clients, agents, and carrier partners, enabling rapid policy issuance and high approval rates.

• Technology is adaptable to new products and additional carriers with minimal incremental cost.

• End-to-end digital model enables a 10-minute purchase journey, compared to 5-10 weeks industry standard.

Value proposition and market strategy

• Delivers a 10-minute, 95% instant underwriting process with over 90% approval rates and competitive pricing.

• Empowers agents with a digital operating system, next-day payments, and efficient lead management.

• Carrier partners benefit from incremental growth at target profitability, with no mortality risk for the platform.

• Focuses on both direct-to-consumer and third-party agent channels, with a mix of about two-thirds direct.

• Actively expanding product offerings, including annuities, wills, and estate planning.