Value Chain

In our previous editions we talked about how VUCA (Volatility, uncertainty, complexity and ambiguity) context challenged insurers to find new ways of collecting customer data and reshape their products and services, using this data for optimized underwriting and pricing decisions, or creating new opportunities for distributing and servicing their products in the new digital channels.

In 2020, as a result of the impact of COVID-19, we were able to see all these challenges become a reality in all industries resulting in a great technological acceleration and adoption from all the customer segmentation worldwide.

Part of these capabilities were because of the impact of the new entrants, allowing all these technologies and agility for adapting their businesses for the new context, demands and habits.

The insurance value chain has totally changed its DNA. It has gone from organizational silos to an open platform model. Its mission has also changed: from being oriented to protect and serve, to a new activity oriented towards prevention and prediction. Insurers have adapted their value proposition to the new uncertain, volatile and changing context characterized by the new habits, values and demands of their clients.

Shifting to a prevention and prediction model is supposed to expand lifecycle and customer interactions, forcing companies to create new touchpoints and collect new and personalized data. And this is only possible as a result of the insurers' technological strategy, but also due to other factors: such as alliances and partnerships that may be established; the mergers that take place in all areas of the value chain, or the alignment of its value proposition (in the entire value chain) while offering a unique user experience.

Deconstructed Value Chain

Digitization and data were the two main technologies that have favored the arrival of new business models, and with the Covid19 pandemic they were accelerated.This digitalization not only transformed and fragmented the value chain but also deconstructed it to the point where there is no more lineal process from the product design to the claims management, but an embedded, dynamic and circular process, driven by data and lead by constant changes of customer’s behavioral habits and needs.

We can see policies that change, depending on their use, products that can be enabled or disabled, or compensations based on a probability of event. These attributes make the value chain totally dynamic and connected throughout each parts of the process.

Our Value Chain Framework

Product Design

Predictive Models & Exponential New Markets. It’s all about Prediction and Prevention.

COVID-19 has accelerated the IoT adoption in all industries, and in insurance we have seen how pay-per-mile and usage-based policies found their spot in the Auto Industry, where people had to stay at home and not use their vehicles. Furthermore, new home contents coverage, and home prevention policies have grown in a moment of important refinancing and home sales moment.

However, this is not only related to P&C lines but also to Health and Life. In a moment where there is more awareness of Health Prevention and Wellbeing, the market of wearables is in a constant growth, combined with the exponential growth in the Telemedicine because of the social distancing, it is completely impacting Health and Life Products.

This also covers Commercial lines, where the new parametric insurance is gaining more traction because of its capability to anticipate any possible incident.

Data collected from IoT

Product Design

Predictive Models & New Markets | • | Digital Health | • | Microinsurance for New Exponential Markets

Predictive Models & New Markets

$290M revenue last year
Based on the findings of the “test drive,” which you can set up through the company’s mobile app, Root decides whether or not to provide a quote.

IPO: $724M
VAL.: $6.7B

Estimates $100M revenue last year.

With the huge growth of housing sales and refinancing. 60 seconds to get quoted. Uses ML and smart home devices to update customers on liability issues and preventative maintenance.

IPO: Announced
VAL.: $150M

Digital Health

Digital integrated healthcare with affordable and customized plans and adding small groups and corporate health plans in 2021, reached $1.29B net revenue last year.

2020: $500M
TOTAL: $1.6B

First direct to customer digital health insurance company reached $2BM revenue last year. The experience is like having a doctor in your family.

2020: $365M
TOTAL: $1.2B

Founded in 2016, Waterdrop is focused on mutual aid for medical conditions it wants to expand its business, incorporating partnerships with Pharma companies, insurers and other clinical care actors to provide lower-cost treatments and medications.

2020: $380M
TOTAL: $673M

Micro Insurance for New Exponential Markets


Coalition enhances businesses cybersecurity with prevention and comprehensive cyber protection.

Last funding round: $90M (Series C)

MicroInsurance for GIG economy makes sense in COVID-19 times & Emerging Markets

Focused on Southeast Asia, igloo’s cloud platform provides friendly API, dynamic pricing and smart claims.

Last funding round: $16M (series A)

Marketing & Distribution

Hybrid Distribution

Marketing & Distribution

Hybrid Distribution & New Digital Models

Investor: Munich Re

$290M revenue last year, a wide-range of insurance coverage for more than 1,000 unique types of small and micro business, becoming the latest unicorn.

IPO: $250M

Lemonade is an American insurtech pioneer that provides pet, renters and home owners protection.

Expanding the reach of distribution in Home & Life

States Title helps lenders, home owners and real estate professionals to close loans in an efficient way.

Last funding round: $123M (Series C)

Flood flash uses smart sensors that allow parametric insurance with less uncertainty and lower a premium, covering business properties against floods.

Last funding round: $2.5M (Seed)

Expanding the reach of distribution in Home & Life

Ladder is a simple and flexible life insurance that can change according to customer’s needs, covering different priorities throughout their lives.


Last funding round: $37.5M (Series C)

Financial planning and banking complement Singlife’s portfolio. The company uses life insurance and additional services to improve client’s finances.


Last funding round: $90M (Corporate Round)

Optimizing Distribution with Embedded Microinsurance in Emerging Markets

Digital Platform that works with Partnerships (e.g. Amazon)


Last funding round: $60M (Series D)

Digital Platform works with Partnerships (e.g. Amazon)


Last funding round: $84M (Venture round)

Underwriting & AI

Hybrid Distribution

Dynamic Pricing & Uncovered Risks

Pay as you go insurance & Platform for connected cars

Pay as you go insurance

The name says it all. ByMiles customers can have their vehicles covered by mileage driven. ByMiles app can offer customers driving insights using a miles tracker or connected cars features.

Last funding round: $19.5M (Series B)

Platform for connected cars

Jooycar’s solutions work in two lines: for individuals and fleets. Jooycar products incorporate IoT and cloud technologies for fast risk and scoring analysis and promotes safe driving.

Last funding round: $700K (Venture Round)

Wellness & Health

Wellness, benefits and simple insurance

From Freelancers to large corporations, Alan offers simple Health insurance coverage. Alan’s users can have access to additional services such as telemedicine, alternative medicine, meditation and other health prevention benefits.

Last funding round: $54M (Series C)

Alternative medicine

Clever care Health plan joins traditional care with alternative medicines such as acupuncture, herbal remedies and therapeutic massage.

Last funding round: $20M (Series A)


Troy gives Medicare advantages to users to add coverage for prescription drugs, hearing care and other benefits. Troy’s platform was built with pharmacists and physicians.

Last funding round: $10M (Series B)

Smarter insurance

Smarter Insurance for cargo marine

Corvus is a commercial insurtech that uses AI and Machine Learning to provide more accurate risk and cybersecurity breaches to empower brokers and policy holders with dynamic insights.

Last funding round: $32M (Series B)

Smarter Insurance for climate issues

Jumpstart simplifies earthquake insurance, covering small businesses and home owners property from natural disasters.

Last funding round: $1.8M (Seed)

Smarter Insurance for comercial & carriers

Planck Technologies collects data from different sources to provide data intelligence and real-time insights for brokers and insurers.

Last funding round: $28M (Series A)

Claims Management & AI

Hybrid Distribution

Automation at scale


Tractable uses AI that assess vehicle damage and estimates repair costs in real time.

Last funding round: $30M (Series C)


Descartes underwriting uses different data sets and sensors to improve insurers predictive analytics and reduce risks.

Last funding round: $18.5M (Series A)


Zipari improves health customer experience with its Engine that gives customers insights into their clients.

Last funding round: $22.5M (Series B)