Insurance Startups funded by Y Combinator (YC) 2024

Newfront is transforming the delivery of risk management, employee experience, insurance, and retirement solutions by building the modern insurance platform. Transparent data delivered real-time translates into a lower total cost of risk and greater insights. Headquartered in San Francisco, Newfront has offices throughout the country and is home to more than 850 employees who serve clients across the United States and globally.

Vouch is business insurance for high-growth companies (from garage to IPO). In under 10 minutes, founders and finance teams can apply for coverage customized for their startup and industry vertical. Vouch offers 10+ lines of proprietary coverage, from General Liability, EPL, D&O, to Cyber policies. As the underwriter of these insurance policies, Vouch removes any hidden third party fees, and handles all of the paperwork from start to finish. Vouch is live in the US and works with thousands of start-ups, including hundreds of YC backed companies.

Jerry makes it really easy to save time and money on car expenses. The car ownership super app first launched its AI- and machine-learning-based car insurance compare-and-buy service in 2019. Today, Jerry serves more than 3 million customers as a licensed insurance broker and an authorized auto refinance provider, while also offering free telematics-based driver safety and repair estimator services. The fastest, easiest and only automated way to compare and buy car insurance, Jerry gives you customized quotes from more than 55 insurance carriers in 45 seconds. Customers skip all the long forms and unwanted human interaction while Jerry hunts for better rates and completes the transaction, saving more than $800 per year. In 2022, Jerry launched its auto refinancing marketplace, which can help customers lower their monthly car payments, on average, by $118 dollars. Jerry is scaling its car insurance and auto refinance products and expanding its marketplace into new categories, removing friction from additional car ownership needs. Jerry will be the only app car owners need to manage all their car expenses. Headquartered in Palo Alto, the company has offices in Toronto, and Lockport, NY, and has removed physical location from recruiting restraints to attract talent.

Ledger Investing provides an exciting opportunity for asset managers, pension funds, hedge funds, family offices and other institutions interested in earning a great return through insurance investing. The company deploys proprietary software and data analytics covering many types of insurance risk portfolios. The technology enables insurers to securitize risk more efficiently while providing investors, asset managers, pension funds, hedge funds, family offices, and other institutions an opportunity to invest in a new and growing asset class. Ledger Investing was founded by Julien Brissonneau, Aymeric Rabot and Samir Shah in 2016.

We are building a global safety net for nomads and remote teams. That includes health, disability and pensions, available globally.

Axle is Plaid for insurance - a universal API for insurance data. With Axle, companies can instantly verify insurance and monitor ongoing coverage, helping them reduce operational cost while creating a frictionless experience for users. Axle is backed by leading investors including Y Combinator and Gradient Ventures, Google's AI-focused venture fund, and angels from industry leaders like Plaid and Cox Automotive.

Blume is a web app that streamlines insurance quoting, renewal, and revenue ops processes for health insurance brokers. We are working with our first cohort of health insurance brokers to help them save the, on average, 6 hours of manual data entry they do every week.

Soteris is a YC-backed company with a four-person team and a great investor base building a first-of-its-kind data ML pricing system for insurance, starting with personal auto.

In Momento we are going through a challenging regulatory process to become a fully-licensed insurance carrier. By doing so, we will be able to underwrite risk, set prices and, ultimately, become owners of the product. Once approved, around summer 22, we will be in a great position to size the $13bn untapped opportunity of +30 Mn uninsured vehicles – just in Mexico! As we will be able to attack the main pain points in the market: i) antiquated underwriting models and ii) payment conditions only adapted for the affluent. To succeed, we have assembled an elite team with both innovative and experienced profiles. We are three cofounders, two ex-McKinsey and one ex-P&G, and we managed to attract two heavyweights of the Mexican insurance industry: the previous CUO of Zurich Mexico and the previous CFO and VP of Finance of ING and AXA Mexico.

Tint makes it easy for tech platforms to embed insurance into their products. For example, when you go to Outdoorsy to rent an RV, the insurance that is sold with the rental is powered by our technology. Our product provides anything that is needed from underwriting software to access to insurers to compliance, in a simple API.

Samos sells accidental death insurance for individuals undergoing surgery. Just like travel insurance but covering a hospital stay.

Eden Care is building a digital health insurer for employers in Africa. Today, health insurance operation costs in Africa are 2.2x the global average. Eden Care is cutting this by 43% making health insurance cheaper. The $11Bn African health insurance market is projected to grow to $72Bn in just 12 years. We are targeting 90 million uninsured African employees.

Goodcover provides its Members with Good Renters Insurance for 50% less than legacy companies and an Annual Dividend of the money left over after claims obligations are met. Goodcover is a Managing General Agent (MGA) that administers personal insurance on behalf of our Membership, a bit like how USAA does it. Member's premiums are pooled and used to pay claims. We take a fixed fee, and the remainder is returned in our Annual Member Dividend. We work with multi-billion dollar capital partners to ensure regulations are followed, adequate claims capital is always available, and we have emergency capacity for catastrophes. Technology allows us to eliminate waste, saving roughly 25% of the cost. We are 100% digital, but not bots - we invest in tech that enables our experts to help Members. As an Invitation Only Membership served by an MGA, **we can give Members Free Insurance** when they invite others, turning our "Marketing Budget" into savings for Members. This eliminates Lizards and Sales Agents, saving the other 25%. We do not use the standard industry models, instead using a multiperil model to more granularly price risk. This means that for a few of you we are more expensive... but everyone else pays much less than they would otherwise pay. Our granular, multiperil model allows us to offer a superior policy over the standard market including: - coverage for if your place is flooded by a neighbor - Replacement Cost Coverage (meaning new stuff for your old) - All Risk coverage for high value items you tell us about - including computers (almost no one does that amazingly) - added coverage for mold removal Our MGA business model allows us to be capital efficient, "renting" capacity as we need it. All this adds up to our government approved pricing being 40-60% cheaper on average than that of our competitors.

Amenli is the first licensed online insurance broker in Egypt. Egypt has one of the lowest insurance penetrations in the world with a 100m population and a $2B GWP market growing 20+% YoY and a potential TAM of $10B. Over the past few months, Amenli issued 500+ policies in less than 10 mins compared to the minimum of 3 weeks industry standard. Amenli co-founders, Shady & Adham were founding team members of Paymob, one of the fastest growing payment companies in MENA. Shady was CCO and Adham was its Tech Lead and they worked together for more than 3 years to scale-up Paymob from scratch to 50K+ merchants, 5 countries and dozens of millions of monthly transactions.

Interacting with insurance across a variety of carriers should be undifferentiated heavy lifting - a piece of infrastructure like Stripe, Twilio, or AWS that "just works"in the background while your business focuses on what makes it different. We provide programmatic building blocks to make this a reality, putting a carrier-neutral API and tooling on top of insurance, starting with policy access (think Plaid, but for your insurance company) and monitoring. Our technology has a variety of use cases that range from insurance verification and tracking, financial advising, compliance & risk management, and marketing/distribution of insurance products.

Our product allows employers to pay for the out of pocket costs for any employee that enrolls in their spouse's health insurance plan. This saves our customers $10k per enrollee while providing an incredible employee perk: 100% coverage of a family's health costs. We handle setup, employee education, and claims reimbursement. Our technology can even help employees who don't have a spouse understand their insurance options.

SafeButler is a free comparison tool that searches hundreds of insurance websites at once to find the information you need to make the right decisions on insurance

PolicyFly empowers insurers to sell and manage specialty insurance in minutes instead of in weeks. Every year, $200B of specialty insurance like Cyber, Flood or Trucking is processed over email between agents and insurers – PolicyFly connects both parties to automate these workflows and to consolidate all data. We bring growth, efficiency and transparency to otherwise hard to insure markets.

Surety bonds are financial guarantees that businesses must purchase to comply with government regulations. For example, all contractors must have a surety bond to bid and work on federal construction projects. It is a $8b opportunity in the US. SuretyNow is building the surety bond platform for the 21st century. Businesses can apply for bonds and receive affordable quotes online in minutes. We offer the fastest and simplest online experience for getting surety bonds.

One API to sell & process insurance across Africa. At Curacel, our goal is to make it easy and pleasant to get & use insurance in emerging markets. We are building the rails to make insurance work for the next billion Africans.

WeatherChecks application tells anyone when severe hail is about to strike and when it has in fact impacted a property. Using state of the science technologies we compute and analyze geo-weather data faster than every weather company globally. This allows companies, insurance companies specifically to gain dynamic insight into their overall exposure and enabling them to respond more quickly and efficiently to disaster.

Finnix is a financial technology solutions provider for Indonesian creative businesses. We provide loans and financial management tools for event organizers, agencies, concert promoters, and others.

Coverage Cat (https://www.coveragecat.com) is the best way for people to optimally insure against their risks for homeowners, auto, renters, and general liability insurance. Millions of wealthy but insurance-unfamiliar Americans have purchased policies that leave them vulnerable to million-dollar lawsuits and bankruptcy. Coverage Cat fixes their coverage and offers them cheaper premiums with a focus on the central question of insurance: "how much can you afford to lose?" This risk-first approach allows for policies with higher deductibles that no other insurer will sell you, and enables us to find the multi-million dollar coverage, for truly catastrophic events, that our users need.

CatX is a digital marketplace connecting insurance carriers with institutional investors to trade and transfer insurance risk efficiently. We help to make insurance risk models understandable and accessible for asset managers so they can unlock new sources of returns. In addition, we streamline and digitalize the entire risk transfer process, so insurers can get faster, cheaper access to capital from our partner funds.

At KorrAI, we measures ground motion (land subsidence) from satellites, identifying risk before it becomes disaster. We offer fast and accurate risk maps to diverse industries, enabling smarter decisions in a changing climate.

We offer up to 40% lower premium by focusing on the population which are either low mileage drivers or have good driving habits, representing a $7B market. Insurance penetration in LatAm is extremely low (30% for cars & 10% for motorcycles). This is because there is not an appropriate product for most vehicles (price, payment options, and distribution channels, etc.). We developed the tech to identify and offer affordable insurance for any vehicle (cars, motorcycles, bikes, scooters) based on mileage and driving habits. Then we added gamification, payment options for the unbanked population, and more.

Stream enables insurance and adjacent professionals such as lawyers, nurses, and claim adjusters to review medical documents faster and better than ever before.

Gleam is a near-zero admin HRA benefit platform that helps companies reduce their health insurance costs by 27-40%. Our software platform simplifies setting up and operating an HRA by automating all financial, legal, and compliance work. It's a drop-in benefits package add-on with fantastic cost-saving opportunities. Plus, it gives employees the flexibility to use their health benefits dollars where they need them most, whether it's achieving a $0 deductible or accessing health services not typically covered by insurance.

AI Insurance is the platform that small-to-midsize insurance companies use to run every part of their business. Before we showed up, they used spreadsheets and filing cabinets – wasting as much as 60% of revenue on administrative expenses. We’re doing what Salesforce did for SMB sales teams, but we’re tapping into the over 10,000 insurance companies that waste $238 Billion dollars annually.

The insurance industry struggles to insure new risks like climate change. The amount of climate risk that goes uninsured every year is $180 billion and growing. Plover's software platform enables insurers to design new insurance products quicker and manage policies cheaper, unlocking new risk markets and geographies. Plover's team previously worked together at Palantir, handling data infrastructure for the US Department of Defense.

Surematics is helping commercial insurance brokers structure complicated deals online. Homeowners and car insurance are enough of a nightmare for most of us to handle but Surematics is targeting even more difficult cases — awkward expensive items like oil rigs. With a dash of blockchain, the startup wants to allow companies to collaborate together to create enforceable contracts.

Verak is now part of InsuranceDekho as of April 2023. Verak offered next day coverage starting at ₹8 per day for MSMEs in India to insure any facility (shop, warehouse, factory etc) against 15+ natural & man-made perils. (*) Our team worked across the entire insurance value-chain: From satellite based underwriting to machine learning based pricing to instant quotation to WhatsApp based claims.

Savvy is a health benefits product offering employees payment cards to buy their own health insurance. One of the first to market after new regulation, Savvy scaled to $10s of millions in volume and expanded into all 50 state health insurance markets. Savvy was backed by Y Combinator, Marc Andreessen, and the founders of One Medical and Indeed. In 2022, the company was acquired by Take Command, the leading incumbent in the health insurance HRA space.