Start-ups working in the financial industry have been on a steady increase since at least 2010, and now with the heightened focus on insurtechs, CareValidate has turned our focus to insurtech for long term care. CareValidates joins this group of ambitious companies developing technology that helps underwriters manage risk.
“Insurtechs are aiming to help insurance companies perform better rather than trying to muscle in on their traditional markets,” says John Cusano, Senior Managing Director at Accenture. Discussing how the innovative start-ups are facilitating growth in the industry is an exciting proposition for insurers.
The commonality behind most insurtechs is that they use data at the core of their operations. Data captured from sensors on the Internet of Things, aggregated public records or even behavior patterns of workers or long term care residents can all contribute to a more agile, effective insurer. Information is the lifeblood of underwriting and insurtechs are helping keep the industry healthy and happy.