Oscar Health partnership. This week in insurance tech.
Recently, we’d noticed a host of tech startup financings syndicated by multiple strategic investors within the insurance industry. Most of these investments happened to be on the P&C side and so we wanted to dig in to the data on startup investments by the top 25 P&C insurance groups by direct written premiums.
As a reminder, here’s who they are:
And here’s how the chart looks when it comes to new tech startup investments since the start of 2015:
As the data confirms, a few startups now count multiple P&C carriers among the top 25 by premiums written as strategic investors. These include Dispatch Technologies, a software platform for home services professionals; Sure, a digital travel, renters, and smartphone insurance brokerage startup; and Snapsheet, a virtual auto claims operations startup. All of these startups had announcements in the last two weeks.
Where hospitals are looking
Last week, Oscar Health announced a new partnership with Cleveland Clinic, in which the two will work together to offer individual health plans, both on and off Obamacare exchanges, in five counties of Northeast Ohio.
So we took a look at the thematic startup focus areas of major hospital systems and providers including Ascension and Kaiser Permanente. Here’s what we found.