Hippo Insurance Competitive Landscape
Delivered September 13, 2019. Contributor: Alexandra Y.
Goals
The goal is to find out how the provided insurance companies entered the insurance market, what strategies they used, what products they offer, and other notable information that makes them stand out.
Early Findings
- Fairmatic offers mobile software for insurance companies that measures how safely a person is driving based on things like speeding, hard turns, and phone use while driving.
- Some clients of Fairmatic include AmWINS, American Business Insurance Services, and Marsh.
- Yulife provides group life insurance to companies for their employees. They started in 2018 and reward their members for healthy life choices by using their app.
- Yulife is partnered with one of the world's largest insurers, AIG.
- Yulife entered the insurance market with the intent of being a simple, fun way to have life insurance amongst lots of complex companies with rules and red tape.
- 123GO is a telematics product that was launched in the beginning of 2019 by insurer 123.ie. The product targets young drivers and uses a box to monitor driving habits.
Proposed next steps:
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