Tech Companies Are Moving Insurance Into Apps

Lately, InsuranceTech has been a hot topic that has caught a lot of attention across industries. As the LTP team has been actively exploring the opportunities tech companies are building around insurance for consumers, we have seen a wide array of promising companies disrupting the industry. Untouched for decades, traditional insurance players are noticing a rapid rise in the adoption of alternative insurance types.

While each segment of InsuranceTech is exciting with opportunities, there is one that is particularly interesting. With mobile taking over almost every aspect of our lives, insurance wasn’t left aside. If banking can move to apps with digital-only banks, insurance can do the same.

Here is a selection of some of the most interesting and promising InsuranceTech startups that are pushing traditional insurance players out of the business.

Knip is an innovative digital insurance manager that provides users with an easy-to-understand overview and analysis of existing insurance policies, tariffs and services.

Clark is an insurance platform that provides a transparent, cheap and comprehensive insurance cover.

Brolly is a UK-based personal insurance management app and broker that allows users to manage their policies in one place and understand where they have duplicate or missing coverage.

FinanceFox provides users the option to manage and optimize all insurances in one app. Current insurances are retrievable with one click and users can get personal advise in order to optimize your policies.

Metromile has created a device that captures mileage data to determine how much a person should pay for their car insurance policy.

Censio is a smartphone-only, usage-based insurance platform that helps increasing adoption, reducing costs and collecting better data to drive risk algorithms.

Trov offers Web and mobile applications to help users track possessions and assist in advising in wealth and estate planning, property management, insurance coverage, private social connectivity, asset disposition, charitable giving and more.

Sure claims to be the newest innovation in personal insurance that will be launching on-demand insurance worldwide this year.

Cuvva was launched in October as an iOS app that enables the user to sign up, get a quote and buy cover in less than 10 minutes.

Insurify offers the fastest way to compare car insurance quotes.

ROOT is a tech company offering an app to provide the best insurance rates for good drivers.

Snapsheet, previously known as BodyShopBids, is a free app for iPhone, Android and the Web that allows users to receive bids from local auto body shops.

Spex is a technology platform that enables users to better handle disaster-related insurance claim inspections.