As we spend more time at home, how we view our pets has changed and pet adoption and ownership have surged. However, 81% of pet owners would not be able to cover an unexpected $5,000 out-of-pocket expense for their furry loved one. The pet health insurance sector has emerged to address this risk and is currently valued at ~$2B per annum with approximately 2.8 million pets insured in North America. Pawlicy Advisor allows pet owners to rapidly make sense of the various pet insurance options available with its data-driven marketplace. Pet parents can compare and contrast their insurance options to makes sure they are selecting the best coverage with transparency and efficiency in less than 5 minutes. AlleyWatch caught up with Cofounder and CEO Woody Mawhinney to learn about how his own experience with his Shar Pei, Wrigley, led him to found Pawlicy Advisors, the effect of the pandemic on the pet industry, and the company’s latest round of funding from investors that include Rho Capital Partners, Defy Partners, Slow Ventures, and Entrepreneurs Roundtable Accelerator.
Digital wallets have decentralized transactions across a variety of use cases and resulted in simplicity for consumers, with a sole point to manage their finances. 92% of Americans have some form of personal insurance yet there has not been a digital wallet solution for the insurance industry. Marble is a free digital wallet for consumers to manage all their insurance policies in a single place. The startup also offers rewards (up to 5%) for premium payments, saving consumers money. The insurance industry has been extremely competitive with digital-savvy consumers armed with comparison tools to save money on their premiums that are willing to jump carriers more so than ever before. In 2019, 48% of auto insurance holders said they would “definitely renew” with their carrier. That’s down from 59% in 2004. With carriers facing these challenges in retention and looking to attract the next generation of insurance buyers, Marble’s rewards platform increases loyalty and overall customer satisfaction. The company is in beta and plans to accommodate insurance policies from any carrier next month. AlleyWatch caught up with CEO and Founder Stuart Winchester to learn more about the company’s launch, the state of the insurance market, and the company’s seed funding round from investors that include IA Capital Group, MS&AD Ventures, Reciprocal Ventures, Fintech Ventures Fund, The Takoma Group, and HU Investments.
The organizers of Wimbledon had the foresight to purchase pandemic insurance after SARS in 2003, paying $31M in premiums. This year they were covered for $142M in losses. The pandemic has made business owners more cognizant of different types of insurance products available to protect them against often insurmountable losses as a result of unexpected disruptions. Arbol has introduced weather risk insurance, a parametric coverage product, built on the blockchain to provide rapid payments in the event of loss without drawn-out claims processes. The company’s products are currently being deployed in the maritime, energy, hospitality, and agriculture industries, where weather risk can be severe. Since launching in March, Arbol has covered $15M in notional risk across the hundreds of deals already consummated.
AlleyWatch caught up with Founder and CEO Sid Jha to learn more about the benefits of insuring weather risk, the company’s experience launching right as the pandemic swept in, and the company’s recent funding round from investors that include Finch Finance, Space Capital, and Mubadala Capital Ventures.
Chris Cunningham of C2 Ventures offers some predictions for what 2021 will bring to tech, covering AR, privacy, insurtech, and much, much more…
Approximately 160 million Americans receive health benefits through work; however, employee healthcare costs are becoming a financial burden for many employers and this can negatively impact employees’ access to quality healthcare options. Centivo offers self-funded employers health plan solutions that are built to save 15% or more compared to traditional insurance carriers. AlleyWatch caught up with CEO and Founder Ashok Subramanian to learn more about Centivo’s growth since its pilot launch in 2019 in Florida and NY, future geographic expansion plans, and latest funding round from investors that include B Capital Group, Define Ventures, HarbourVest Partners, Nassau Street Ventures, Bain Capital Ventures, F-Prime Capital, Ingleside Investors, Maverick Ventures, and Rand Capital.
The most agile and innovative companies will rely on AI-powered digital “coworkers” alongside creative humans to enhance productivity and increase profits. Roots Automation has built the first zero integration, self-learning Digital Coworker (pre-trained bot) that can perform a variety of common tasks found in Insurance, Healthcare, and Financial Services roles. Through interactions with human counterparts, the pre-programmed bots increase their capabilities and become more efficient, better at understanding the business, and eventually have the capacity to offset the work of four to eight individuals on average per bot. AlleyWatch caught up with CEO and Cofounder Chaz Perera to learn more about the company, how his time as Chief Transformation Officer at AIG provided the inspiration for the Roots Automation, and the company’s first funding round led by Vestigo Ventures.
SMBs have traditionally lacked the resources to build out robust benefits department forcing them to outsource benefit decisions to traditional brokers and bear an increasingly disproportionate burden in rising healthcare costs. Nava, an employee benefits brokerage founded by the founders of Hightower and Kareem Zaki of Thrive Capital, brings affordable healthcare to the 160M Americans who rely on employers for health insurance. With Nava, small-to-midsized businesses are equipped with the resources, tools, and expertise to deliver valuable yet accessible benefits to their employees, while driving down overall plan costs for the employer. AlleyWatch caught up with CEO, Cofounder, and repeat entrepreneur Brandon Weber to learn more about the genesis for Nava, the company’s mission to make healthcare more transparent, and the company’s recent funding round led by Thrive Capital.
For the millions of people in the US without health insurance, visiting the doctor for a routine checkup or when feeling under the weather can be a catastrophic expense. Mira allows people without insurance to receive preventative and urgent care at an affordable and accessible price point. The platform operates on a membership model with monthly dues ranging from $25 – $45. Members have access to a network of partner clinics that they can visit with an additional $99 fixed copay that includes the office visit, lab tests, and additional procedures at no extra charge. Mira’s offers 125 clinics, 1600 labs, and 60,000 pharmacies in its provider network. AlleyWatch caught up with CEO and Founder Khang T. Vuong to discuss how his personal experience with the American healthcare system as an immigrant inspired him to launch Mira, the company’s geographic expansion plans to new markets, and the recent round of funding
As online shopping takes a larger share of retail, the traditional opportunities for retailers to upsell extended protection plans are slowly disappearing. Clyde is an online extended warranty platform that integrates with the checkout process of e-commerce merchants, offering a seamless and integrated experience while adding a bit of margin for the retailer. This is especially important in e-commerce where margins are highly competitive. CEO and Founder Brandon Gell walks us through the business, its future plans, and recent round of funding led by Spark Capital.
Even Financial, the financial services search API that enables programmatic and native customer acquisition, has acquired SF-based LeapLife, the insurtech platform and digital life insurance agency. The terms of the transaction were not disclosed. “Even’s goal to evolve how financial institutions find and connect with consumers is not limited to loans or credit cards, but […]
Buying insurance is typically not a fun process and even with all the information that the internet provides at your fingertips, you may still feel lost in navigating all the offerings. Policygenius is the authoritative source that provides unbiased information on practically every form of insurance that you may need – whether it be life, […]