Fintech Changes Insurance
Comparing health, auto, and more
Metromile is auto insurance meant for consumers who don’t drive often. It uses a small device that keeps track of how many miles the user drives and then charges an insurance fee accordingly. The company is seen as a threat to traditional insurance and therefore looks promising and has received over $14 million in funding.
TheZebra allows users to compare auto insurances discretely. It provides real-time updates, which the user can use to identify factors that influence rates. The website is essentially an insurance agent that delivers accurate, unbiased quotes.
PolicyGenius helps the consumer find the best kind of life, pet, and renter’s insurance. They also have a service called insurance checkup, which helps to streamline the user’s insurance. The website can quickly tell the user of problems or redundancies in their current plan.
The tag line of Oscar is that it is a new kind of health insurance company. The Peter Thiel backed company, strives to make complicated and confusing processes easy and transparent. It uses technology where traditional companies do not. It also offers benefits like free checkups and free doctor phone calls.
CoverHound is an auto insurance platform that strives to keep the consumer in control. It finds personalized quotes while also keeping the information safe. This type of “Kayak” for auto insurance benefits consumers since they can go to one website to see many different quotes to find the best price.
Abaris is a startup based on providing a steady income for retirees. The website determines the users retirement needs and then provides quotes from insurance companies with the facts and not a sales pitch.
Trov allow users to track and itemize their possessions. Think of it as like a “Mint for your stuff”. Their platform tracks items’ values and gets quotes for each. Trov provides a wealth of information that the user has access to via mobile devices.
SimplyInsured allows small businesses to get simple quotes on insurance. It estimates the net costs when purchasing health insurance. Users can then get coverage based on their unique needs. The company also handles all the necessary paperwork to quickly implement a new plan.
California Fintech Network is a non-profit trade organization for professionals, founders, executives, and investors that work in financial technology. Find more detailed research at www.CaliforniaFintech.org
California Fintech Network is a private network of professionals, founders, executives, and investors that work in financial technology. Find more detailed research at www.californiafintech.net