Eleos Life

Eleos Life is an API-first digital insurance carrier founded in 2022, offering term life and disability insurance through embedded distribution partnerships with banks, fintech platforms, and credit unions in the UK and United States. The company operates as a licensed carrier in 41 US states plus the District of Columbia and serves consumers in the UK through integrations with over 10 platform partners, reaching approximately 5 million consumers.

The company differentiates through rapid digital enrollment that requires no medical examination and can be completed in minutes. Its REST API model allows partners to embed life insurance into existing digital journeys within days -- some configurations deploy within 24 hours. Eleos has supplemented its core product with Theea, an AI-powered chatbot providing 24/7 policyholder guidance and policy design support; a pilot program showed 2.5x higher purchase conversion relative to standard support channels. Policies include access to remote primary care and mental health therapy as embedded ancillary benefits.

Eleos entered the US market in 2025 via partnerships with Assurity, a mutual insurer providing underwriting support, and SCOR, a global reinsurer enabling market entry. The company has raised cumulative funding of approximately USD 7.75M across a USD 750K pre-seed round in 2023, a GBP 3.25M seed round in 2024, and a USD 3M media-for-equity investment from Mercurius Media Capital in April 2026. The media-for-equity structure provides access to broadcast inventory through Sinclair Broadcast Group, TelevisaUnivision, and Atmosphere TV for US growth marketing.