Global Domination: InsurTech Edition
By: Aisha Tritle
Tags: Insurtech, Insurance, Innovation, AI, Data

Global Domination: InsurTech Edition

Credit: icanhascheezburger.com. yum.

It’s no secret that insurtech is far more advanced abroad. Here in the US, we’ve got Lemonade, Root, Hippo and…

I dare you to name another one.

You probably can if you’re actually into insurtech — and probably can’t if you’re not. No way. But go on any insurtech news site and you’ll see row upon row of press releases announcing that XX company has gotten funding and is now expanding into the U.K. or France or Latin America, etc.

So let’s dive into some insurtech companies spreading their wings.

Companies on the Up and Up

Emma

Who is she? A life insurance company from the Great White North. But this life insurance company isn’t like the others — and not just because of the cute name. You can get life insurance with Emma in under 20 minutes, with a digital policy that’s immediately accessible. On top of that, they give you personalized options and payment options as low as $8 a month.

Credit: Warner Media

The Montreal-based startup recently announced its plans to expand throughout Canada. You can learn more about them here: http://emma.ca

WeGroup

The promising Belgian startup recently raised 3 million euro to begin their expansion into France. Leveraging data and analytics, the company calls itself “the insurance platform of the future”. Their digital assistant/platform, Louise, assesses customers then identifies policies across various insurance companies that are ideally suited to them. Curious? Read up here: https://www.wegroup.be/en/about

Insurello

The Stockholm-based startup handles the claims filing process for users — and even finds opportunities for compensation of which users might not previously have been aware. The company plans to expand internationally, and recently raised 1.7 million euro to help smooth its path to global domination. If you understand Swedish, you can learn more about them here: https://insurello.se

Company That’s About to Explode (in a good way): Coherent

This one is a little different in that it has a menu of products — ranging from a platform that enables insurers to digitize their back-end to a product that empowers agents to sell policies remotely. The pandemic has proved the latter product — named “Flow” — particularly useful.

Coherent already has bases in Hong Kong, Singapore, Shanghai and Manila — but recently had a $14 million Series A round that they will use to expand their operations throughout Asia.

Company That’s About to Become an Even Bigger Deal: Lemonade

It’s the hot pink insurtech company with the artsy Instagram campaigns that’s named after a staple life beverage. Boba? No.

Lemonade.

The provider of homeowners, renters, and pet health insurance is already available outside the US in France, Germany, and the Netherlands. Up next? Their “Coming Soon” list is impressive and includes ideal post-COVID vacation destinations such as Malta and Liechtenstein.

Do Not Sleep On This Company: Omnidya

Knock knock.

Who’s there?

It’s us. The future of personalized insurance. Powered by AI and data transparency, we only want the best for you. So we’ll give you the best auto insurance policy of your life — so hella customized it’ll fit you like a bespoke glove. You can join our party here.