InsurTech is not just a buzzword. InsurTechs around the world is implementing their innovative solutions to help solve this global pandemic.
Most known for solving traditional problems with new ways of thinking and technology, InsurTech startups are small, nimble and able to adjust quickly.
“By leveraging their technology and shifting their priorities to adapt to the changing and growing demands is going to be vital for the startups to survive and thrive during this challenging time.” said Shane Curran, co-founder of InvestSure.
Stopping the Panic:
InvestSure is a world-first insurance product supported by global reinsurer Hannover Re. The product is parametric and protects investors from losses in share price caused by allegations of management dishonesty (inc. accounting fraud, bribery, etc). With many investors taking the drop in the market as an opportunity to invest, InvestSure is seeing a spike in usage this month after the WHO announced COVID-19 as a pandemic.
South African investors are taking precautions to protect their investments on the Easy Equities platform by insuring their investments to protect against losses that may arise through InvestSure.
Wysa provides mental health support via a unique 3-layer hybrid model. This uses an emotionally-intelligent AI conversational agent to provide immediate 24×7 support and helps users identify evidence-based self-help tools and techniques to work through challenging periods of their life. Wysa is currently experiencing a huge spike in usage as consumers are learning how to cope with panic, disruption in their lives, and social isolation.
Allganize is helping companies that are experiencing a higher call volume or whose call center staff cannot all be available remotely via their tool to help manage large spikes in call volume.
Stopping the Spread:
UDoTest simplifies and personalizes at-home testing for high-risk diseases, engages consumers and lowers costs. UDoTest is currently acting quickly to help develop at-home testing for COVID-19. By partnering with Telehealth providers this at-home test for the coronavirus will soon be a reality.
Livindi helps family caregivers, assisted living homes, memory care facilities, care providers, and health insurers take care of isolated seniors using a combination of technology and care services.
Edlore is expanding the capabilities of their tools to develop a solution to deploy mobile healthcare units where certain staff can be behind the scenes electronically, but still, see the patient and direct the front line worker. Their innovative hardware and software solution will let the physician at another location see the patient and create a diagnosis along with a mobile team.
These are the true innovators and thought leaders that will help all of us get through this together.