What are the listed companies of American InsurTech (InsurTech) innovative companies?
“This article will share with you the latest four listed companies in the US insurtech sector.” The fintech sector has developed extremely rapidly in recent years. Many excellent innovative companies have emerged in the fields of payments, loans, stock trading, insurance, etc., and many of them have become listed companies. Compared to other areas of fintech innovation, the level of attention received by insurtech companies has risen sharply this year. The reason may be that innovation in other fields has gradually matured, and insurance technology is still developing in the same way as payments or online loans about three years ago. Many innovative companies disrupting traditional insurance businesses are still in their infancy or have just gone public. I teach FinTech (FinTech) courses part-time at NYU, and I do many case studies with students every year. The author believes that insurance technology still has a chance of huge development in the next step. This article introduces the four newest insurtech companies listed in the US this year for your reference. Overall, investors are very enthusiastic about the insurtech sector, and the stock prices of these companies have been very strong since they went public this year. 1. Home insurance company Lemon Juice Among the listed companies with US IPOs this year, the insurance technology company that received the most attention is probably Lemon Juice Insurance Company. The company is headquartered in New York City and was founded in 2015. In May, when the COVID-19 pandemic was worst this year, the company was listed on the New York Stock Exchange. Currently, the market capitalization is over 3.3 billion US dollars. I first learned about Lemon Juice Insurance because of NYU students. Last year in our fintech course, some students suggested that when they rent a house, they would buy home insurance with Lemon Juice for $5 a month. After some comparisons, we found that this company's premiums are far lower than average property insurance companies. Of course, this company's insurance business also has two major differences from other traditional insurance companies. First, Lemon Juice Insurance does not have an “account manager” to handle policy purchases and claims services. All of the company's insurance business is handled through an artificial intelligence robot on a mobile app or website. It can be said that when Lemon Juice purchased insurance, there were no traditional documents, phone calls, and no agents. When consumers buy an insurance policy, Maya, an AI robot in the app, directly searches the real estate information database and completes the pricing and payment of the policy in about 90 seconds. At the same time, when a claim occurs, the app will also instantly compare the database and provide an immediate payment. Since Lemon Juice Insurance Company has no manual services, the company's operating costs have been drastically reduced, including human resources, including office expenses; second, Lemon Juice Insurance Company has an annual charitable reward. In other words, at the end of each year, the policyholder can donate to some charitable organization chosen by the policyholder according to the payment status of the policy, if there is a balance. Lemon Juice's earliest insurance product was home insurance. It can be said that their business model completely disrupted the traditional American home and property insurance policyholder-insurance business model. As the company continued to grow after going public, Lemon Juice has begun to enter the life insurance and pet insurance fields. The company's business model is to build trust among home insurance policyholder customers and then explore the life insurance and pet insurance needs of these customers. The company's life insurance is also carried out through the AI robot Maya, and there is no need for human customer service at all. It can be said that if Lemon Juice becomes zero-insurance brokerage in the future, it will completely disrupt the current life insurance business model. The company is also currently expanding its business area, starting in New York, expanding to other states in the US, and beginning experiments in countries such as Germany, France, and the Netherlands. 2. The insurance big data exchange Max Media Alpha (MediaAlpha), trading code Max, is an online advertising platform for the insurance industry that was launched in October this year. The platform connects insurance company prospects and publishers to help buy and sell vertical search media, including website clicks, phone calls, etc. It provides these companies with advertising management, advertiser data analysis, and insurance policy management reporting and analysis, and provides insurance policy services. The company was founded in 2011 and is headquartered in Los Angeles, California. The company is headquartered in Los Angeles, California, and currently has a market capitalization of 2.4 billion US dollars. The main founding shareholder of Max is Hakusan Insurance. After listing, Hakusan Insurance still owns 35% of the shares. The company's stock price performed well after listing, and the stock price has nearly doubled in about a month. Its core competency is the use of artificial intelligence and big data to help insurers find customers online. One of the company's digital advertising platforms actually...
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