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#Insurtech, a burgeoning phenomenon, promises to disrupt the insurance industry by leveraging #technology to provide greater efficiency, more flexibility and cheaper prices to consumers.

The insurtech industry is growing steadily with over 900 companies across 14 categories from 53 countries, according to a report by Venture Scanner. These ventures have raised over US$ 16.5 billion in funding as of January 2016.

via Venture Scanner

VC investment into insurtech is on the rise. According to the Wall Street Journal, VCs injected US$ 167 million in the sector in the third quarter.

Rodolfo Gonzalez, a partner at Foundation Capital, told the media outlet that “over the past 18 months or so the number of startup founders interested in the insurance space has grown dramatically.”

Insurtech applications cover everything from offering automotive, health and travel and employee benefits insurance products, to peer-to-peer insurance platforms, data and intelligence solutions, but also comparison platforms, marketplaces, as well as infrastructure and backend for enterprises.

The US currently hosts some of the world’s leading insurtech #startups. This includes Metromile, an automotive insurance provider that offers pay-as-you-drive coverage, and Oscar, a non-employee health insurance provider.

Metromile utilizes an on-board diagnostics (OBD) device to wirelessly send driving data to measure the specific actions of individual clients, as well as mobile technology to collect data points and offer additional services to clients. Metromile has raised over US$ 205 million in funding so far.

Oscar aims at revolutionizing insurance through data, technology and design. Oscar provides each client with a branded personal fitness device that collects data such as sleep time, which it delivers to healthcare providers, streamlining and optimizing the caregiving process. Oscar has raised over US$ 727 million in funding and serves over 145,000 customers.

In Europe, notable insurtech startups include Clark, an insurance broker which sells insurance products from more than 160 providers in Germany, and GetSafe, another German venture providing a digital insurance manager on mobile.

#Switzerland&8217;s insurtech industry remains quite small when being compared with the likes of the US, the UK or Germany. Nevertheless, the country has a number of notable startups.

In light of the upcoming Finance 2.0 Insurtech&8217;16 conference, we have listed some of the hottest insurtech startups from Switzerland.

Finance 2.0 Insurtech&8217;16, which will take place on November 01 in Zurich, will bring together some of the industry&8217;s top thought leaders, experts and entrepreneurs, to discuss the future of the insurance industry, digital disruption and emerging trends.

Knip

Founded in 2013 by Dennis Just and Christina Kehl, Knip is a mobile insurance manager that collects customers&8217; insurance products in one app, allowing for users to access all their insurance policy documents, tariffs and services in one place.

The platform also provides automatic analysis of new customers&8217; insurance coverage and sends them recommendations on how they can improve their insurance protection.

Knip is funded by VCs from the US, Switzerland, Germany and the Netherlands. The startup has raised over US$ 18 million in funding so far.

Smartie

Self-proclaimed the &8220;Tripadvisor for insurance business,&8221; Smartie.ch is an online insurance aggregator that allows users to compare insurance products, features and providers.

Smartie.ch aims at simplifying the buying experience for customers while improving sales for insurance companies.

Users can also rate and review health and auto insurance products similarly to how Tripadvisor allows users to rate and review hotels and related services.

Anivo

Based in Zug, Anivo is the first Swiss online insurance comparison service and an insurance broker that provides personal insurance counseling.

Founded in 2015 by Alexander Bojer and Werner Flatz, Anivo aims at providing greater transparency in insurance products while offering high quality consulting to consumers.

In August, the startup announced a new partnership with the Swiss state railway company SBB.. The deal sought to provide railway workers with special rebates on insurance products as well as allow them to benefit from personal advisory by insurance experts of Anivo.

FinanceFox

FinanceFox is an insurtech startup based in Berlin-Kreuzberg, Zurich and Barcelona. The company provides an digital platform that lets you store all of your insurance policies in one app through which you can also file and manage insurance claims and get personal advice.

FinanceFox has raised over US$ 33 million in funding so far, among which a US$ 28 million Series A in September led by Target Global and Horizons Ventures. The round was said to be the largest insurtech round in Europe to date. The startup is looking to expand to Austria next, reports Techcrunch.

Versicherix

Founded in 2015, Versicherix was introduced earlier this year as Switzerland&8217;s first peer-to-peer insurance, providing new ways of engaging with customers and offering cheaper and more customer-centric insurance coverage.

On Versicherix, a group of customers pools their premiums into a group fund, which allows to get the best price performance ratio. Together, the group gets the best coverage for an affordable price.

The first Finance 2.0 – InsurTech Conference connects the insurance industry with InsureTechs. Motto: Collaboration in facing the digital transformation. On November 01, 2016, leading experts are going to talk about these topics in Zurich, Switzerland.

Special Offer: Sign up now with code &8220;#FinTech-Insur&8221; to get 20% discount

FREE PASSES TO ATTEND INSURTECH &8217;16!
Win a FREE-pass to attend Insurtech &8217;16 by replying directly to this email with your full name.
THREE lucky emails will be chosen and announce (via email) as winners on this Thursday, October 20

Featured Image: Pixabay