Out of 146, the Global Startup Heat Map highlights 5 Top Blockchain Startups impacting InsurTech
Startups such as the examples highlighted in this report focus on automated underwriting, smart contracts, and digital insurance. While all of these technologies play a significant role in advancing the InsurTech industry, they only represent the tip of the iceberg. This time, you get to discover five hand-picked blockchain startups impacting InsurTech.
The Global Startup Heat Map below reveals the geographical distribution of 146 exemplary startups & scaleups we analyzed for this research. Further, it highlights five InsurTech startups that we hand-picked based on scouting criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these five startups & scaleups in this report. For insights on the other 141 blockchain startups impacting InsurTech, get in touch with us.
Click to download
iChain enables Insurance Management
Founding Year: 2016
Location: Tokyo, Japan
Funding: USD 1,9 M
Use this solution for Secure Policy Storage
Japanese startup iChain leverages blockchain to securely store insurance policy data. The iChain Insurance Wallet allows insurance policyholders to access information such as the name of the policy, monthly premium, and claims amount for all of their policies. It also lets users share this information with family members who are covered under the same policies. iChain collaborates with insurance providers to fetch this data. This enables users to manage their insurance policies effectively while ensuring secure storage of their data is stored securely on the blockchain.
FidentiaX offers an Insurance Policy Marketplace
Founding Year: 2017
Location: Singapore
Work with FidentiaX for Insurance Trading
FidentiaX is a Singapore-based startup that operates a blockchain-driven insurance policy marketplace. The startup’s platform enables clients to buy, sell, and store insurance policies by tokenizing them on the blockchain. This decentralized solution also updates the policy prices in real-time as well as automates the submission of relevant documents. FidentiaX’s immutable solution enables policyholders to trade insurance policies securely.
LISA Insurtech provides Claims Settlement Automation
Founding Year: 2019
Location: Columbus, US
Funding: USD 1 M
Partner for Claims Process Management
US-based startup LISA Insurtech develops an AI and blockchain-based platform for claims settlement automation. The LISA Claims platform manages the claims process of insurance companies and automates commission payments to middle entities such as managers and insurance agents. The platform also has features for effective communication between claimants and insurance companies. This reduces wait times in settling insurance claims for policyholders and reduces costs related to passing claims.
88i offers Blockchain-based Digital Insurance
Founding Year: 2018
Location: Sao Paulo, Brazil
Funding: USD 1,4 M
Use this solution for Cost-Effective Insurance
Brazilian startup 88i provides blockchain-based insurance. Its mobile insurance that protects users’ devices from theft, falls, and other wear & tear. The startup stores the policy information on a protected digital wallet that also enables customers to pay their premiums and apply for claims. 88i’s insurance policies protect customers’ mobile devices, ensuring product longevity.
Ledgertech builds a Digital Insurance Framework
Founding Year: 2018
Location: Tel Aviv, Israel
Partner for Blockchain-based Reinsurance
Israeli startup Ledgertech provides a blockchain-based digital insurance framework. It connects insurance providers and customers to streamline and automate processes such as reinsurance, claims processing, and payments. The platform uses smart contracts to validate insurance requests generated by any entity to reduce the chances of fraud. By storing all information on the blockchain, also ensures data security.
Where is this Data from & how to Discover More InsurTech Startups?
Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the insurance industry. The insights of this data-driven analysis are derived from our Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering 2 093 000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & lets you scout relevant startups within a specific field in just a few clicks. To explore insurance technologies in more detail, let us look into your areas of interest. For a more general overview, download our free InsurTech Innovation Report to save your time and improve strategic decision-making.
