Gusto takes on Zenefits. This week in insurance tech.
Yesterday, we put together an update on some of the happenings and trends in insurance tech. The full presentation is available here.
In the presentation, we highlight a number of themes such as potential deeper moves by existing fintech players into insurance including SoFi, which is reportedly planning to offer life insurance by the end of the year. Also in the life insurance realm, Ladder Life, backed by investors including Canaan Partners, Lightspeed Venture Partners and Nyca, started testing its quoting process in California last week.
We also touch on initiatives by reinsurers including Munich Re Digital Partners, which has announced two upcoming underwriting partnerships with startups Trov and Slice. And this week, Hannover Re US announced a new partnership solutions team to work with “emerging, high-tech distribution companies and InsurTech players.”
Likely more to come on both new life insurance entrants and reinsurer moves and perhaps even intertwined.
Ahead of this fall’s open enrollment, HealthSherpa said that it has helped enroll over 530,000 people to enroll in the federal healthcare marketplace since its 2013 launch. To put those numbers in context, nearly 12.7 million people signed up or re-enrolled for Obamacare plans nationwide during open enrollment for 2016.