Top 5 Insurtech Startups in Switzerland
#Insurtech, a burgeoning phenomenon, promises to disrupt the insurance industry by leveraging #technology to provide greater efficiency, more flexibility and cheaper prices to consumers.
The insurtech industry is growing steadily with over 900 companies across 14 categories from 53 countries, according to a report by Venture Scanner. These ventures have raised over US$ 16.5 billion in funding as of January 2016.
via Venture Scanner
VC investment into insurtech is on the rise. According to the Wall Street Journal, VCs injected US$ 167 million in the sector in the third quarter.
Rodolfo Gonzalez, a partner at Foundation Capital, told the media outlet that “over the past 18 months or so the number of startup founders interested in the insurance space has grown dramatically.”
Insurtech applications cover everything from offering automotive, health and travel and employee benefits insurance products, to peer-to-peer insurance platforms, data and intelligence solutions, but also comparison platforms, marketplaces, as well as infrastructure and backend for enterprises.
The US currently hosts some of the world’s leading insurtech #startups. This includes Metromile, an automotive insurance provider that offers pay-as-you-drive coverage, and Oscar, a non-employee health insurance provider.
Metromile utilizes an on-board diagnostics (OBD) device to wirelessly send driving data to measure the specific actions of individual clients, as well as mobile technology to collect data points and offer additional services to clients. Metromile has raised over US$ 205 million in funding so far.
Oscar aims at revolutionizing insurance through data, technology and design. Oscar provides each client with a branded personal fitness device that collects data such as sleep time, which it delivers to healthcare providers, streamlining and optimizing the caregiving process. Oscar has raised o
October 18, 2016
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