Emerging Insurance Startups Revolutionizing the Industry from New York, US

January 26, 2024



As we continue to cover and celebrate the vibrant startup culture across the US, this instalment spotlights startups in the insurance industry, all based in New York, New York. These companies are pushing the boundaries, innovating, and bringing a welcome fresh approach to the insurance scene. Truly embracing the technology era, these new companies are providing practical solutions, aiding customers’ navigation of the complex insurance world, while also offering invaluable integration into the digital space.

The global pandemic has brought about numerous challenges, with businesses in all sectors grappling to stay afloat. However, amidst this disruption, startups established from 2020 and onwards have boldly entered the market, defying odds with their innovative business models and customer-centric solutions. The New York-based insurance startups outlined here have displayed this entrepreneurial spirit, stepping up to the demand for quality insurance products and services.

In the heart of this bustling city, they represent the future of the insurance industry, bringing a fresh approach to traditional services. These startups are embracing the rise of insurtech, marrying technology with insurance, to offer easy-to-use platforms and more personalised services. For an industry that is often associated with complex terms and lengthy paperwork, this innovative move is a game changer and is setting the stage for a more streamlined and customer-centric approach moving forward.

Taktile

Founded in 2020, Taktile is a software platform that allows businesses to build, run and evaluate automated decision flows in a quicker and more data-driven manner. Taktile was started by Maximilian Eber and Maik Taro Wehmeyer to help companies bring products to the market quicker, reduce risk in decision-making, and adapt to change faster. The company also improves the margins of these businesses because changes can be made without engineering assistance, while decision logs and historical data are converted into actionable assets.

Chapter

Providing consultation on appropriate medical services, Chapter offers personalised recommendations for medical card programs and benefits. Based in New York, this startup was founded by Cobi Blumenfeld-Gantz, Corey Metzman, and Vivek Ramaswamy. Chapter aims to give guidance on healthcare programs that align with individual needs, providing a personalised interface for healthcare advice and services.

Nirvana Health

Founded in 2020 by co-founder and president Kelvin Chan, Nirvana Health is a mental health care service provider. Based in New York City, the startup offers solutions that help providers navigate and automate complex and time-consuming insurance-related tasks.

EF Hutton

E. F. Hutton Group, Inc. operates as a diversified financial services holding company. Offering various services, such as investment, recapitalization, and marketing of various American businesses, the company also partakes in banking, insurance, leasing, municipal funding, and more. E. F. Hutton Group, founded in 1904 and based in New York, contributes a long history of experience in the industry.

Zaya Care

Focusing on the motherhood journey, Zaya Care helps maternity care providers accept insurance. This makes affordable, quality care accessible, a crucial mission for mothers across New York. Founded by Leoni Runge, this startup is transforming the maternity care journey.

Advocate Technologies

Founded in 2020 and based in New York, Advocate Technologies provides tech-enabled insurance compliance services and insurance risk management advice. They aim to help lenders and asset managers keep loan portfolios safe.

Meritus Gas Partners

Meritus Gas Partners builds a packaged gas company. They provide insurance and finance services for packaged gas and welding supply distributors. Founded by the New York-based team, Meritus Gas Partners is a leader in its field.

CoverForce

Providing insurance technology solutions, CoverForce was founded by Cyrus Karai. This startup enhances accessibility and ease in managing insurance profiles in the digital space.

MIC Global

Specialising in microinsurance, MIC Global offers accessible, affordable insurance products to cater to a broad range of needs. With their innovative approach, they ensure that insurance is made easy and accessible for all.

Bowhead Specialty

Bowhead Specialty Underwriters offers insurance services. They provide coverage for directors, officers, errors, omissions, fiduciary, employment practices, and more. Bowhead Specialty is dedicated to providing deep expertise and high-quality service to their clients.

Obsidian

Obsidian is a program insurance fronting platform built specifically for managing general agents and administrators that want to connect with reinsurers seeking primary layer access. Dedicated to supporting the increasing market need, Obsidian is truly demonstrating the power of innovation in the insurance space.


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