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There are a handful of well-funded high-tech startups looking to disrupt the insurance industry in different markets. News this week from Lemonade about how they are now “weeks” away from a launch of their new “peer-to-peer” homeowners insurance model in New York got me to wondering, which – if any – of these companies will be in for the long haul and truly become a player?
• Silicon Valley-based health insurance broker Zenefits has gone through its share of high-profile legal issues and general turmoil, but new management seems committed to redefining its previously flawed corporate culture.
• Oscar is a New York-based startup founded to sell health insurance in the new individual markets created by Ovbamacare that reportedly lost $105 million between its New York and New Jersey businesses in 2015. Oscar has expanded to California and Texas, and still was valued at $2.7 billion as of March.
• Lemonade also has impressive funding, plus an experienced executive team and the support of major reinsurers. It is scheduled to roll out its “peer-to-peer” homeowners insurance product in New York in the “coming weeks.”
I know other new companies are out there as well, but for the purposes of this poll, I thought I’d get a feel for who Insurance Forums members think has the best shot at making it among these three. If you think a different company will emerge as the most successful in the next three years, please post it on this thread.
Insurance Forums | Lemonade takes steps toward a New York product launch in coming weeks
Insurance Forums | Oscar gets investment from Google; eyes California and Texas in 2016
http://www.insurance-forums.net/forum/employee-benefits-forum/zenefits-lies-booze-billions-t81264.html
• Silicon Valley-based health insurance broker Zenefits has gone through its share of high-profile legal issues and general turmoil, but new management seems committed to redefining its previously flawed corporate culture.
• Oscar is a New York-based startup founded to sell health insurance in the new individual markets created by Ovbamacare that reportedly lost $105 million between its New York and New Jersey businesses in 2015. Oscar has expanded to California and Texas, and still was valued at $2.7 billion as of March.
• Lemonade also has impressive funding, plus an experienced executive team and the support of major reinsurers. It is scheduled to roll out its “peer-to-peer” homeowners insurance product in New York in the “coming weeks.”
I know other new companies are out there as well, but for the purposes of this poll, I thought I’d get a feel for who Insurance Forums members think has the best shot at making it among these three. If you think a different company will emerge as the most successful in the next three years, please post it on this thread.
Insurance Forums | Lemonade takes steps toward a New York product launch in coming weeks
Insurance Forums | Oscar gets investment from Google; eyes California and Texas in 2016
http://www.insurance-forums.net/forum/employee-benefits-forum/zenefits-lies-booze-billions-t81264.html