Information Security Key to Success and Customer Confidence for Insurtechs Like LifeQuotes

The American Institute of Certified Public Accountants (AICPA) established SOC 2 to evaluate companies based on their Trust Services Principles and Criteria for information security. The process involves testing companies’ data management systems for security, availability, processing integrity, confidentiality, and privacy. It has become an industry standard for cloud-based technology companies, and it is held by such tech heavyweights as Amazon Web Services and Google, validating the security of their infrastructure and practices. has now undergone an in-depth audit by a third-party auditor, confirming the insurtech pioneer’s adherence and compliance with this lofty standard.

The process is among the most comprehensive in technology, requiring comprehensive, written documentation of information security policies and procedures, as well as a technology examination that proves a company’s ability to maintain these standards over time., the premier online life insurance exchange that provides instant quotes from 50 leading life insurance companies, is now SOC 2 Audit compliant, which means consumers can be confident that their data is secure throughout the quote process thanks to a set of bulletproof information security measures designed for today’s demanding marketplace requirements.

“ is well-positioned in today’s rapidly-changing online insurance landscape. An exciting digital upheaval and modernization is underway in the life insurance marketplace. Achieving the coveted SOC 2 – Type II Audit is one way that we’re positioning our company to participate in additional strategic marketing partnerships in which trust, customer privacy and controls are paramount,” says Robert Bland, CEO of and has created – and made available online – a cutting-edge paperless life insurance quotation and policy placement platform that provides consumers with maximum savings with the least amount of time commitment. In addition, the Company operates co-branded online life insurance exchanges on behalf of other organizations and institutions., according to Bland, also operates co-branded, online life insurance exchanges on behalf of other organizations and institutions with large customer or membership bases.

This most recent information security achievement, according to Rob Goss, executive vice president of, is a lynchpin of efforts to protect customers and streamline the online life insurance quote process.

“It’s gratifying to achieve the rigorous SOC 2 – Type II audit at the same time as we continue to enhance our digital offerings to accommodate an increasing number of customers who want to buy online,” Goss said. “An online life insurance purchase is at the fintech intersection of selection, speed and convenience. Our culture has always been to move thoroughly to address control issues, starting with the convenience of anonymous quoting.”, a privately held company, has delivered over 335,000 policies to satisfied customers across the country. In 2001, the company created and launched the ability to buy term life insurance online, and it also provides co-branded online life insurance and fulfillment platforms for banks, credit unions, affinity groups, and trade associations.

Customers can benefit from a lightning-fast, paperless online life insurance purchase process thanks to the company’s proprietary technology, which provides instant quotes and illustrations from up to 50 leading life insurers.

The SOC 2 framework consists of five key sections that together form a set of criteria known as the Trust Services Principles:

  1. The system security of the service provider.
  2. The system’s processing integrity.
  3. The system’s accessibility.
  4. The privacy of personal information collected, retained, used, disclosed, and disposed of by the service provider for user entities.
  5. The confidentiality of the information processed or maintained by the service provider’s system for user entities.

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