Top 30 Health Insurance Startups to Look Out For in [2023]

Have you ever wondered who is on the list of Health Insurance Companies with the highest growth rates?

You’re not alone.

There are hundreds of Health Insurance Companies found there, and keeping track of the hottest new startups can be challenging.

But don’t worry, we’ve got you covered. Here are the top 30 fast-growing Health Insurance Startups that have top-tier venture capital funding.

What are Health Insurance Startups?

Health Insurance Startups are companies that use technology and data to create new and more efficient ways of providing health insurance coverage. These startups often focus on making insurance more accessible and affordable, using innovative pricing models and data-driven decision-making. 

Many of these startups are creating digital platforms that allow customers to compare and purchase health insurance plans, and some are even developing their own health care plans.

Top 30 Fastest-Growing Startups In Health Insurance

1) Bright Health

Bright Health is working on a health insurance platform that will provide a high-quality healthcare experience.

Details of the startup:

• Country: United States
• City: Minneapolis
• Started in: 2015
• Founders: Kyle Rolfing, Robert John Sheehy, Tom Valdivia
• Number of employees: 501-1000
• Funding amount: $1,575,000,000
• Number of funding rounds: 5
• Number of investors: 17

You can find their website here.

2) MediBuddy

MediBuddy is a digital healthcare platform that offers inpatient and outpatient hospitalization, as well as corporate wellness benefits.

Details of the startup:

• Country: India
• City: Bengaluru
• Started in: 2000
• Founders: Satish Kannan
• Number of employees: 1001-5000
• Funding amount: $67,132,379
• Number of funding rounds: 5
• Number of investors: 12

You can find their website here.

3) Nayya

Nayya is a platform for managing and experiencing insurance benefits that addresses health plan issues.

Details of the startup:

• Country: United States
• City: New York
• Started in: 2019
• Founders: Akash Magoon, Sina Chehrazi
• Number of employees: 11-50
• Funding amount: $50,700,000
• Number of funding rounds: 3
• Number of investors: 13

You can find their website here.

4) Collective Health

Collective Health is a corporation that offers a non-traditional health insurance option.

Details of the startup:

• Country: United States
• City: San Francisco
• Started in: 2013
• Founders: Ali Diab, Rajaie Batniji
• Number of employees: 501-1000
• Funding amount: $719,000,000
• Number of funding rounds: 6
• Number of investors: 29

You can find their website here.

5) Vim

Vim is a technology firm that creates digital infrastructure for the healthcare industry.

Details of the startup:

• Country: United States
• City: San Francisco
• Started in: 2015
• Founders: Asaf David, Oron Afek, Yael Peled
• Number of employees: 51-100
• Funding amount: $71,900,000
• Number of funding rounds: 4
• Number of investors: 8

You can find their website here.

6) Bicycle Health

Bicycle Health is a virtual addiction care clinic that specializes in the treatment of opioid addiction.

Details of the startup:

• Country: United States
• City: San Francisco
• Started in: 2017
• Founders: Ankit Gupta
• Number of employees: 1-10
• Funding amount: $32,276,131
• Number of funding rounds: 2
• Number of investors: 5

You can find their website here.

7) Plum

Health insurance and perks of high quality

Details of the startup:

• Country: India
• City: Bengaluru
• Started in: 2019
• Founders: Abhishek Poddar, Saurabh Arora
• Number of employees: 11-50
• Funding amount: $20,645,163
• Number of funding rounds: 5
• Number of investors: 23

You can find their website here.

8) Catch

Catch is a new type of personal safety net that is both accessible and affordable.

Details of the startup:

• Country: United States
• City: Boston
• Started in: 2017
• Founders: Andrew Ambrosino, Kristen Anderson
• Number of employees: 11-50
• Funding amount: $17,649,495
• Number of funding rounds: 5
• Number of investors: 17

You can find their website here.

9) Turtlemint

Turtlemint is an insurtech platform that helps people find and buy the right insurance products.

Details of the startup:

• Country: India
• City: Mumbai
• Started in: 2015
• Founders: Anand Prabhudesai, Dhirendra Mahyavanshi, Kunal Shah
• Number of employees: 251-500
• Funding amount: $77,000,000
• Number of funding rounds: 5
• Number of investors: 10

You can find their website here.‍

10) Sidecar Health

Sidecar Health is an insurtech firm that offers a customizable health insurance platform.

Details of the startup:

• Country: United States
• City: El Segundo
• Started in: 2018
• Founders: Patrick Quigley, Veronica Osetinsky
• Number of employees: 51-100
• Funding amount: $163,000,000
• Number of funding rounds: 3
• Number of investors: 11

You can find their website here.

11) GoBear

GoBear is an insurance, credit card, and loan comparison service.

Details of the startup:

• Country: Singapore
• City: Singapore
• Started in: 2014
• Founders: Frank Stevenaar, Ivonne Bojoh, Marnix Zwart
• Number of employees: 101-250
• Funding amount: $97,000,000
• Number of funding rounds: 2
• Number of investors: 2

You can find their website here.

12) Coverfox Insurance

Coverfox Insurance is an insurtech company that offers simple online insurance brokerage services.

Details of the startup:

• Country: India
• City: Mumbai
• Started in: 2013
• Founders: Devendra Rane, Varun Dua
• Number of employees: 501-1000
• Funding amount: $51,250,370
• Number of funding rounds: 6
• Number of investors: 13

You can find their website here.

13) Star Health and Allied Insurance

Medical Insurance, Accident Insurance, and Travel Insurance Plans are all available from Star Health and Allied Insurance.

Details of the startup:

• Country: India
• City: Nungambakkam
• Started in: 2006
• Number of employees: 1001-5000
• Funding amount: $173,773,498
• Number of funding rounds: 3
• Number of investors: 6

You can find their website here.

14) Infermedica

Infermedica is a leading digital health startup that specializes in AI-powered pre-diagnosis and patient triage solutions.

Details of the startup:

• Country: Poland
• City: Wroclaw
• Started in: 2012
• Founders: Irving Loh, Piotr Orzechowski, Roberto Sicconi
• Number of employees: 51-100
• Funding amount: $14,950,000
• Number of funding rounds: 9
• Number of investors: 10

You can find their website here.

15) Alice

Alice is a tech-driven healthcare firm that uses B2C health insurance to help people live better lives.

Details of the startup:

• Country: Brazil
• City: Sao Paulo
• Started in: 2019
• Founders: André Florence, Guilherme Azevedo, Matheus Moraes
• Number of employees: 101-250
• Funding amount: $47,800,000
• Number of funding rounds: 3
• Number of investors: 5

You can find their website here.

16) ottonova

ottonova is a new digital health insurance company in Germany.

Details of the startup:

• Country: Germany
• City: Munich
• Started in: 2015
• Founders: Frank Birzle, Roman Rittweger, Sebastian Scheerer
• Number of employees: 101-250
• Funding amount: € 85,000,000
• Number of funding rounds: 4
• Number of investors: 6

You can find their website here.

17) Artivatic.ai

Artivatic’s patent-pending technology helps insurance companies tackle problems like onboarding, fraud, risk profiling, underwriting, and claims.

Details of the startup:

• Country: India
• City: Bengaluru
• Started in: 2018
• Founders: Layak Singh
• Number of employees: 51-100
• Funding amount: $1,153,010
• Number of funding rounds: 6
• Number of investors: 8

You can find their website here.

18) PolicyBazaar

PolicyBazaar is a financial product comparison website that specializes in life insurance and general insurance.

Details of the startup:

• Country: India
• City: Gurgaon
• Started in: 2008
• Founders: Alok Bansal, Avaneesh Nirjar, Manoj Sharma, Tarun Mathur, Yashish Dahiya
• Number of employees: 10001+
• Funding amount: $766,600,000
• Number of funding rounds: 13
• Number of investors: 22

You can find their website here.

19) Elma

Using technology and running an insurance company, Elma makes healthcare access a patient-centric and completely customized experience.

Details of the startup:

• Country: Spain
• City: Barcelona
• Started in: 2017
• Founders: Albert Malagarriga, Miguel Antón
• Number of employees: 11-50
• Funding amount: € 7,100,000
• Number of funding rounds: 3
• Number of investors: 7

You can find their website here.

20) Toffee Insurance

Toffee Insurance is a one-stop shop for all of your insurance needs.

Details of the startup:

• Country: India
• City: Gurgaon
• Started in: 2017
• Founders: Nishant Jain, Rohan Kumar
• Number of employees: 51-100
• Funding amount: $7,100,000
• Number of funding rounds: 4
• Number of investors: 6

You can find their website here.

21) TeleClinic

TeleClinic is a communication technology that allows doctors and patients to communicate easily and securely across Germany.

Details of the startup:

• Country: Germany
• City: Munich
• Started in: 2015
• Founders: Katharina Juenger, Patrick Palacin, Reinhard Meier
• Number of employees: 11-50
• Funding amount: € 9,000,000
• Number of funding rounds: 2
• Number of investors: 2

You can find their website here.

22) AppMan

AppMan is a leading insurtech for life insurance in Thailand and the Asian market, offering technologies to improve sales experience.

Details of the startup:

• Country: Thailand
• City: Huai Khwang
• Started in: 2011
• Founders: Amarit Franssen, Nuttapon Kongkitimanon, Pak Rattidham, Thanapoom Chareonsiri
• Number of employees: 101-250
• Funding amount: THB139,000,000
• Number of funding rounds: 1
• Number of investors: 5

You can find their website here.

23) PlusSimple

PlusSimple.fr is an insurance Robo-Broker for freelancers, small enterprises, and large corporations.

Details of the startup:

• Country: France
• City: Paris
• Started in: #N/A
• Founders: Anthony Jouannau, Eric Mignot, Salah Hamida
• Number of employees: 51-100
• Funding amount: € 30,800,000
• Number of funding rounds: 3
• Number of investors: 4

You can find their website here.

24) Sehteq

Sehteq is a Dubai-based health insurance firm using Oscar-like technologies.

Details of the startup:

• Country: United Arab Emirates
• City: Dubai
• Started in: 2017
• Founders: Saif AlJaibeji
• Number of employees: 101-250
• Funding amount: $20,000,000
• Number of funding rounds: 1
• Number of investors: 1

You can find their website here.

25) Telemedi.co

For insurance and medical firms, revolutionizing healthcare services.

Details of the startup:

• Country: Poland
• City: Warsaw
• Started in: 2014
• Founders: Paweł Sieczkiewicz, Piotr Słomian
• Number of employees: 51-100
• Funding amount: $7,389,296
• Number of funding rounds: 2
• Number of investors: 5

You can find their website here.

26) CDP Group

CDP’s integrated technology platform provides a comprehensive set of products and services for Human Capital Management.

Details of the startup:

• Country: China
• City: Shanghai
• Started in: 2004
• Founders: Wei Wang
• Number of employees: 501-1000
• Funding amount: $118,340,000
• Number of funding rounds: 4
• Number of investors: 7

You can find their website here.

27) Medigo

Medigo makes high-quality healthcare available to people all over the world.

Details of the startup:

• Country: Germany
• City: Berlin
• Started in: 2013
• Founders: Ieva Soblickaite, Pawel Cebula, Ugur Samut
• Number of employees: 11-50
• Funding amount: € 10,450,000
• Number of funding rounds: 6
• Number of investors: 5

You can find their website here.

28) Yuanbao Insurance Research Institute

Yuanbao has a nationwide insurance brokerage company and is a favored Internet insurance platform under the Yuanbao Group.

Details of the startup:

• Country: China
• City: Changyang
• Started in: 2019
• Funding amount: CN¥1,000,000,000
• Number of funding rounds: 1
• Number of investors: 4

You can find their website here.

29) Leapstack

Leapstack is a healthcare-focused insurtech firm that specializes in big data artificial intelligence technologies.

Details of the startup:

• Country: China
• City: Shanghai
• Started in: 2016
• Founders: Gejie Liu, Zhiyang Guo
• Number of employees: 51-100
• Funding amount: $14,531,082
• Number of funding rounds: 3
• Number of investors: 9

You can find their website here.

30) Insgeek

Insgeek is a one-stop shop for employee welfare insurance and health management for businesses.

Details of the startup:

• Country: China
• City: Beijing
• Started in: 2014
• Founders: Li Shuo, Ren Bin
• Number of employees: 1-10
• Funding amount: $47,427,777
• Number of funding rounds: 5
• Number of investors: 6

You can find their website here.

FAQs

Is Health Insurance Business Profitable?

The profitability of health insurance businesses can vary depending on the size, scope, and type of business. Generally speaking, larger health insurance businesses are more profitable since they are able to spread their costs over a larger customer base. 

Additionally, businesses that offer comprehensive plans and services can be more profitable than those that are more limited in scope. Ultimately, the profitability of a health insurance business is determined by its ability to effectively manage risk, attract and retain customers, and provide a high-quality service.

What Is The Average Investment In Health Insurance?

The average investment in health insurance startups is between $1 million to $5 million and more.