UPDATED BY
Rose Velazquez | Sep 09, 2022

Regardless of where you live or who you are, protecting your home, assets and loved ones will always be a key concern. In a world full of uncertainty, people from all backgrounds want to be sure they’re safeguarded from threats, potential disasters and loss of property. 

Enrolling in home, auto, health or other types of insurance can bring peace of mind, but as anyone who has tried to navigate the buying exchanges will know, this can often be easier said than done.

What Is Insurtech?

The mixing of insurance knowledge with technology like AI and data science to simplify the industry and streamline the enrollment process.

The barriers to enrollment are many, and with so many complicated coverage options, convoluted eligibility requirements and fine print to sort through, the insurance industry is in need of a makeover. Thankfully, the insurtech industry has arisen to do just that.

 

What Is Insurtech?

Insurtech companies blend tech with a deep knowledge of the insurance sector to help insurance companies and brokers become more successful and efficient. Insurtech innovators leverage technologies like AI and data science to reduce the need for repetitive processes and tailor plan options to what each customer needs, streamlining the journey from inquiry to enrollment.

 Insurtech has enjoyed a steady rise to power as insurance companies work to provide better experiences for their customers. Globally, insurtech investments hit a record high in 2021

Take a dive into this list of 31 insurtech companies that are making insurance more accessible and helping more Americans stay protected.

Insurtech Companies You Should Know

  • Next Insurance
  • Zipari
  • MetroMile
  • Corvus Insurance
  • Policygenius
  • Clearcover
  • Lemonade
  • GoHealth

 

Insurtech Companies to Know

Location: Chicago, Illinois 

Choosing a healthcare plan can be confusing, but GoHealth is working to streamline this process. An advanced platform relies on machine learning algorithms to match consumers with plans that meet their unique needs. Licensed agents and telecare teams provide support during and after the selection stage.

 

Location: New York, New York

Zipari is a startup that supports health insurance companies in their customer engagement and digital-facing operations. Zipari's technologies keep tabs on important customer data and transform numbers into tangible insights that can help insurers improve their outreach and increase their ROI.

 

Location: Boston, Massachusetts

Corvus Insurance implements AI technologies in its risk prediction platform to help insurance brokers better anticipate losses and better protect policyholders. In order to help clients better secure their assets in the digital era, Corvus Insurance provides cyber coverage services designed to protect people from cyber threats.

 

Location: Chicago, Illinois

Kin Insurance is a home insurance company that seeks to provide homeowners in high risk regions with coverage for their properties and assets. The company simplifies the process of insuring a home by utilizing advanced analytics to turn home data into tailored policies, all while maintaining affordable pricing.

 

Location: Chicago, Illinois

Clearcover seeks to connect car owners with insurance options at more affordable rates, offering a centralized mobile app with which customers can file claims, keep track of billing and view their insurance ID information.

Read More25 AI Insurance Companies You Should Know

 

Location: Dallas, Texas

Bestow is an insurtech company that focuses on life insurance, offering software technologies that empower users to learn and discover life insurance options that better protect themselves and their families. Bestow’s tools deliver price quotes on demand in seconds, removing barriers to enrollment and helping users get the best coverage for their needs.

 

Location: Ann Arbor, Michigan

Groundspeed Analytics’ team leverages the power of machine learning and AI technology to help companies in the insurance industry unlock the potential of their unstructured data. Groundspeed Analytics guides companies in using data to increase their revenue, gain better insights and automate repetitive processes.

 

Location: Minneapolis, Minnesota

Bright Health offers customers a digital-based health insurance service platform that connects users with broker partners in order to reduce complications in enrollment. The company’s streamlined platform also offers solutions for providers looking to better serve and connect with their patients, helping to reduce the costs of insurance while increasing patient satisfaction.

 

Insurtech Companies With Future Technology || Insurance 4.0 | Video: Future Think

 

Location: Washington, D.C.

Pie Insurance is dedicated to providing tech-enabled workers’ compensation programs to small businesses across the United States, utilizing data analytics to assess risks and help companies save money. Pie Insurance works with companies in a broad variety of industries ranging from food service to landscaping, and works with a client base spread across 38 states and Washington, D.C.

 

Location: Columbus, Ohio

Bold Penguin simplifies the journey to getting insured by utilizing insurtech tools to speed up the exchanges and reducing barriers in the buying process. Bold Penguin has partnered with some of the top brokers in the country and beyond, working with household names like Progressive, Attune, Liberty Mutual, Nationwide and AmTrust.

 

Location: San Francisco, California

Ethos Life’s team wants to help families enroll in the right life insurance plans for their needs easily and quickly, supporting a software platform that offers instant, on-demand enrollment. The insurtech company’s service model turns customer lifestyle information into quantifiable data points, and then utilizes technologies such as predictive models to develop a strong picture of a customers health risk. Customers can then use that data to discover insurance options and both apply and activate their coverage within minutes.

 

Location: Palo Alto, California

Next Insurance works with enterprise clients in a broad range of industries from retail to construction, offering a digital platform with which companies can protect their assets and boost their growth. Its platform helps small businesses stay covered, offering services like liability insurance, workers compensation, equipment insurance and other options.

 

Location: New York, New York

Lemonade is a peer-to-peer insurtech company that aims to simplify the insurance sign-up process by eliminating middlemen and encouraging quicker enrollment. Whether they are looking for pet insurance, renters insurance or anything in between, Lemonade’s platform streamlines insurance enrollment and speeds up the process of reimbursement.

 

Location: San Francisco, California

At-Bay is an insurance provider that employ cyber experts who are equipped to assess clients’ digital risk in order to enhance insurance coverage and minimize the potential for exposure. The company offers cyber, technology errors and omissions and miscellaneous professional liability insurance.

 

Location: San Francisco, California

Metromile aims to connect more drivers with affordable car insurance options, providing a pay-per-mile insurance service that only charges customers for the amount they drive. The company’s software platform provides capabilities like mileage and fuel tracking to help customers stay on top of their energy usage and to simplify the auto insurance system.

 

Location: San Jose, California

Sureify is an insurtech SaaS platform that serves life insurance and annuity organizations internationally, providing them with tools to encourage customer self service and increase their selling rates. Sureify helps companies reduce repetitive actions by offering a configurable mobile app with which customers can discover, apply and get approved for the right insurance plans for their particular needs.

 

Location: Palo Alto, California

Hippo Insurance combines home insurance coverage with smart home technology. Once customers input information about their property on the Hippo website, the company says they can get an insurance quote in under a minute. Hippo’s policies come with smart home monitoring systems to help prevent claims by using sensors that can detect things like water leaks. The company also offers its Hippo Home Care product to connect customers with a home health profile and expert maintenance advice.

 

Location: Costa Mesa, California

SmartFinancial is an online marketplace for auto, home, renters, life, commercial and health insurance, as well as Medicare coverage. Customers answer questions about themselves and the coverage they’re looking for, and then SmartFinancial sorts through rates and discounts to offer coverage options within minutes. The company has partnered with insurance providers like Progressive, Allstate, Nationwide and Liberty Mutual.

 

Location: San Francisco, California

Embroker’s intelligent business insurance platform uses technology like AI and machine learning to make seeking business insurance simpler and less expensive. The company provides policies for a range of industries, including tech, law and cannabis.

 

Location: Chicago, Illinois

Clients use Snapsheet for its virtual appraisal technology and cloud-native claim management software. The company’s products include automated tools for payments and Intelligent Photo Acquisition so that customers can submit photos for claims via SMS or email.

 

Location: Denver, Colorado

Vertafore provides technology solutions for insurance agencies and brokers, carriers and managing general agents. The company’s InsurLink product, for example, lets agencies provide clients with a 24/7 self-service digital portal, while WorkSmart helps to streamline workflows.

 

Location: Cambridge, Massachusetts

Insurify applies AI technology to shopping for auto, home, life and renters insurance. The company says it can provide customers with personalized quotes from providers like Nationwide and Travelers in five minutes or less. Insurify also tells them what discounts they qualify for, and policies can be bought online or through a call with an agent.

 

Location: New York, New York

Policygenius works to make shopping for insurance easier, providing a one-stop shop where customers can compare insurance rates and sign up for the best ones for their needs. Policygenius’ online platform displays a broad range of policy options for various use cases, from life and disability insurance to pet insurance.

 

Location: San Francisco, California

Newfront Insurance has the goal of fully modernizing the insurance industry with the help of high-tech software and machine learning tools. Working with both clients and brokers, the company’s web platform reduces challenges to buying and selling and helps clients build customized plans to manage the risks in their particular industries.

Up NextNine Companies Using Blockchain to Revolutionize Insurance

 

Location: San Francisco, California

Doma, formerly known as States Title, is a real estate insurance and loans company that utilizes smart technologies to make escrow and loan closing more streamlined and efficient. Doma’s technologies for homeowners, lenders and agents has been shown to speed up the process of closing loans, and offers features like remote closing, instant underwriting and more.

 

Location: Columbus, Ohio 

Those who rely on Medicaid often face issues accessing care, so Circulo Health is determined to remove healthcare barriers. Harnessing the power of AI and human-centric technology, the company provides online yet secure connections between providers and patients. Healthcare professionals can look forward to timely payments while patients can enjoy remote access to top-notch facilities and practices.

 

Location: New York, New York

The team at Oscar Health recognizes that navigating insurance sites and enrollment can be overly complex, so it delivers a centralized platform where users can receive support and discover plans more easily. Oscar offers a range of scalable health insurance services for individuals, families and businesses, and makes it easier to access digital ID cards, renew prescriptions and find local providers.

 

Location: Menlo Park, California

One Concern focuses on protecting its customers from natural disasters and other hazards with an AI-powered platform that can predict the impact of catastrophes and help users prepare for them. Its technology predicts storm surges, earthquake scenarios and other events to help clients discover and enroll in insurance plans that best prepare them for possible risks in their regions.

 

Location: New York, New York

Haven Life takes advantage of open source technology to help customers purchase life insurance policies online with fewer complications or obstacles. With backing from MassMutual, Haven Life offers its customers a unique combination of industry credibility and a startup ethos, making it possible for the company to streamline policy buying without compromising reliability.

 

Location: Palo Alto, California

Ladder utilizes modern digital tools to connect users across the country with life insurance plans entirely on the internet. Ladder’s services feature no hidden fees and scalable coverage, and its AI-powered platform works to connect more and more users with plans and reduce accessibility barriers to getting insured.

 

Location: San Francisco, California

Extend works with retailers and merchants to upgrade their warranties and protection plans to meet the needs of the digital era. Extend’s warranty and product insurance tools can be integrated with pre-existing e-commerce sites to make enrollment in protection plans more intuitive.

Great Companies Need Great People. That's Where We Come In.

Recruit With Us