For these 7 insurtech startup “all-in” on customer experience

The focus on customer experience leads the business model of the biggest part of insurtech startups addressed to the final consumer. Here is a selection of 7 companies to keep an eye on, including two Italian

Published on 18 Oct 2016

The relationship of trust with its customers is a fundamental pillar in the construction of the business of an insurance company. But in the digital era, where up to now all the big companies and organizations (including insurance) have operated idly, losing the pace of technological developments and the needs of consumers, the concept of trust has to be redefined. In the digital space left wide open by the big, traditional companies, in the past two years has emerged the phenomenon of startups insurtech, which in most cases have the aim of digitally translate the relationship with the customer, creating solutions that promote a positive customer journey and a trusting relationship.

Here is a list of 7 insurtech startup (certainly not complete) that are focusing on customer experience


New York-based tech startup, is giving rise to great attention from venture capitalist (it has already raised $ 13 million before entering the market). It is not yet operational and therefore its business model is not completely revealed, but we can consider it as the Facebook of the insurances, based on what was said by one of its founder, Daniel Schreiber.

” Transplanting DNA from Facebook to insurance could be transformative. Insurance built on the paradigm of social networks would combine true affinity with universal eligibility. It holds the promise of insurance that’s far less conflicted, costly and bureaucratic.”


The California-based company founded in 2012 has recently collected more than 25 milioni di dollari in its fifth round of fundraising, reaching a total funding of more than 46 million from 6 different US and European venture capital funds. And has not reached the market yet. Thanks to a strong technology offers on-demand policies to safeguard your assets (computer, smartphone, TV, bicycles, musical instruments, sports equipment). Insurance policies that can be “on or off” with very few steps on the mobile phone when needed. Claims may be managed in the same way: even with a chat in real time.


Stop with the litter. Stop with standard insurance policies. Full speed ahead with the digital transformation and a new customer experience. League Inc., Canadian insurance tech startup, recently supported by an investment operation for 25 million dollars, like all startups, wants to shake up its sector.

“We have created League to transform people experience in health care, we want to redefine the health insurance with a digital platform focused on the consumer, reducing costs for employers with digital payments – said Michael Serbinis, co-founder and Ceo.

Zhong An

The Chinese company, define it a startup might seem simplistic, it is among the emerging insuretech in Asia, established in 2013 as the first online only insurance, characterized by the sale of insurance policies only via web. Last year it got investments of over 900 million dollars with an assessment over 8 billion. Its secret?

It has succeeded in developing an exceptional amount of insurance products, both for companies and for individuals, providing insurance to traditional goods but also to new risks related to the Internet; managing via web throughout the process from the purchase to the claim in a simple and fast manner.


Italian, with peer-to-peer model, Darwinsurance wants to make insurance more transparent, social and cheap; educate people to the social function of insurance policies; leverage on business models (and construction of the product) of the sharing economy to provide users with better service, better experience, at a lower cost.

“DarWinsurance stems from our working experience in the Italian insurance market, where there are large areas for improvement for example in the customer experience and transparency in the underwriting and pricing. Our model has been developed and implemented in all its parts, from operations to productsand design, based on the specificity of the Italian market – said Yuri Poletto, co-founder and CEO to InsuranceUp.


Italian, owned by LVenture Group and FIRA spa -Starthope, launched the auction of third-party motor insurance budgets, an innovative model of distribution of insurance policies that combines the speed and ease of online sales to the security and human contact of the insurance purchased at the agency. It interprets the customer experience in its way, upsetting the discovery and purchase policies online model with auctions, but without forgetting the need for contact with the agent that many customers are still looking for.

Michele Romagnoli, CEO of tiassisto24, said that “despite the changes and developments in technology, a segment of customers will continue to prefer traditional channels, such as local agents and brokers who are known for their affordability, personal attention to the customer and skills”.


Clark was the first digital insurance broker in Germany. The startup sells insurance products by more than 160 companies and helps customers find the best deal with its robo-advisor, a sophisticated artificial intelligence technology.

Definitely is one of the most interesting startup of the insurtech in Europe, and recently got an investment from 13.2 million dollars that will enable it to further develop the technology and expand the team.

” People are used to mobile services like Facebook, WhatsApp and Mobile Banking. – said Christopher Oster, co-founder and CEO of the startup based in Berlin, in an interview with Finsmes. – There is a lot of room to improve the customer experience. The insurance industry has experienced some delay compared to the banking sector, 50% of bank accounts are accessible online, but there is no reason why the online insurance policies management should not reach a similar level”.

The customer experience is also the topic of the new Open-F@b Call4Ideas2016 BNP Paribas Cardif and InsuranceUp in partnership with PoliHub, District & Startup Incubator of Politecnico di Milano. Let’s apply with your project!

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