IT solutions make their path through almost any sphere. Health insurance is not an exception. With technologies, it’s become possible to say no to all the paper piles to fill out, agencies constantly trying to offer additional options and much more. With the rapidly developing insurance start-ups, nowadays, you can get insurance fee notification on the smartphone or the one that your medicine is ready to pick up.
A lot of money is being invested in developing new approaches, to get new clients and make existing ones loyal. Even the new market philosophy has been developed – insutech: the way to revolutionize health insurance perception.
In 2014, the raise of funds on insurance start ups promotion was over $740 million. 2015 was a year of success too: funding increased by 3.5 times and annual funding hit $2.65B, according to CB Insights report. The beginning of 2015 was a success for insurance space funding when it overran software innovation. Insurance startups like health insurance brokerage Zenefits and online P&C insurance seller Zhong An were at the top of most demanding technologies list. What is more, from the year-earlier period the deal activity in insurtech increase soared on 45% and hit a multi-year quarterly high in fourth quarter of 2015, which evidenced for the most part 11 insurance tech startup financings per month.
The excitement with which the tech space enters the market is constantly lifting up. In 2016 it is predicted that at least 8 insurance apps will roll out on the market. A mobile app Trov is a vivid example of how price information and micro-duration insurance coverage of a particular item can be tracked with the help of digital platform. Australia is said to be the pioneer of using the limited version of this technology in 2016, and the next country to be benefited from the insurtech is UK. It is worth saying that in total there was spent no more than $13.50 million, that is quite a sum for such a little device.
The next innovation has nothing in common with its name, as online insurance company Lemonade will, on the contrary, sweeten your life. This networked property claims to be the first peer-to-peer insurance career. There is no detailed description of Lemonade`s business model, but soon the release of the grand new technology will show all card over.
Melody Health Insurance is targeted to assist in health environment. The company deals with individual customers and is developed for efficient usage. The main purpose of the technology is to provide clients with quality health care, based on personal needs without any hassle. As for now the company completing the licensing process and soon will be opened to general usage.
Mobile app Sure will save your life for sure. Such play of words gives the closest characteristic of the main function of this software, that is, it will provide micro-duration life insurance coverage during airplane travel. The worldwide rollout is planned to be in 2016.
Oscar, an application with interface of a boy, will make the entire health insurance process simplier. You can use this app to have a conversation and to receive medicine prescription from your doctor without leaving your home.
Clover Health is another health insurance plan centered to track costs and produce better health outcomes. Gravie will help to choose and buy insurance which you deserve and manage all health care in one place.
Beam Dental offers all kind of dental care starting from a choosing best toothbrush and finishing with the offered list of finest dental insurance.
All in all, the process of digitalizing our health insurance is on progress. Now it does not even seem to be strange that soon only with the help of one single touch, your life will be ensured and your health will be cared with the comfort and close attention.