Insurtech Startups That Are Disrupting The Insurance Industry

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Insurance is in a deep wave of change and a considerable part of this transformative process is coming from new, aggressive insurtech startups. We profile three leading examples.

The world of insurance is changing, shifting away from the top-down approach and towards a consumer-led process. Today, customers are accustomed to searching for and accessing information online. This is across various devices and different channels. This means insurance firms have had to adapt, in terms of adopting digital transformation strategies, and the consumer focus towards the multi-channel experience has opened the space for insurtech startups.

Some insurtech startups are working with major insurance players, whereas others see the insurance industry is ripe for innovation and disruption. These insurtech startups are exploring new avenues, ones that large insurance firms have less incentive to exploit, such as customized policies, social insurance, and analyzing streams of data to alter price premiums according to individual consumer behavior.

We look at three emerging insurtech startups.


Inmediate an insurtech startup from Singapore, provides the Insurance industry with that ecosystem where Smart Contract Insurance can be transacted at lightning speed, full clarity, and at much lower costs than ever imagined.

Their ecosystem aims to contribute further to the realization of their philosophy. Not to disrupt the insurance world, but to make it work to the best of its ability.

The ecosystem of this startup and associated network brings customers, (re)insurers and distributors together in one place and lets them transact smart contract based insurances. It fosters the effective workings and development of smart contract based insurances.


Cystellar is a cloud-based big data analytics platform. The aim of the data collection and analysis is to develop data-driven decision making and to support other companies operating in the insurance sector. The platform enables predictive analytics, with the data focus being on helping insurers and their clients to avoid damaging events in the agriculture and food sectors.

Data is drawn from satellite imagery and the Internet of Things, plus drone-based surveillance. The platform integrates these various strands of information, and deploys artificial intelligence to assist with the analysis of the complex data. As an example, IoT Sweden and CyStellar recently joined forces to offer Internet of Things and remote sensing solutions for precision agriculture, providing insurance solutions for farmers.

Simple Disability Insurance

As an example of a niche insutech firm, Simple Disability Insurance, through its Simple360 platform, deploys technology to produce disruption in the disability insurance market. Simple360 is a straight-through processing platform designed specifically to remove friction and complexity from the disability insurance sales process.

The company has integrated big data analytics, precision marketing, a simplified product, and automated underwriting. The digital process moves away from paper-intensive systems and speeds up the time required for those with a registered disability to gain insurance.

Introducing Inmediate: a platform on which customers, distributors and insurers using smart contracts connect.

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