Insurtech | Dec 4, 2023

The InsurTech Coalition launches with leading insurtech companies including Boost, Branch, Clearcover, Lemonade, and Root Insurance.

The InsurTech Coalition, announced through an open letter to the insurance industry, positions itself as a pivotal voice in the industry and emphasizes the need for agility and the ability to adapt to the ever-changing needs of modern consumers through advanced technology.

Coalition’s Objectives

• The formation of an innovative InsurTech Coalition represents a significant collaborative effort among leading insurtech companies to drive the industry forward.  Since the announcement, additional insurtechs have joined including Indigo, Vouch, and Amplify.
• A core tenet of the Coalition is the responsible use of technology in insurance, ensuring that advancements benefit consumers and the industry ethically.

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• The Coalition aims to empower consumers with modern tools and transparent practices, enhancing their experience and protection.
• Collaborate with regulators to build frameworks that support new technologies while prioritizing consumer protection is a primary goal.
• A commitment to make insurance products more accessible and affordable, addressing the needs of diverse communities.

Founding members:

“This is not a time for complacency.  We invite all like-minded insurtech advocates to join the InsurTech Coalition to empower customers, advocate for innovative ways of doing business, and advance positive changes in the insurance environment.”

Why It’s Important

The launch of the InsurTech Coalition signals a shift towards a more collaborative, innovative, and consumer-focused approach to insurance. By uniting the strengths and visions of leading insurtech companies, the Coalition aims to redefine the insurance landscape, making it more adaptable, transparent, and inclusive.

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This initiative not only promises to enhance the consumer experience but also sets a precedent for how technology and innovation can be harnessed responsibly in the insurance sector.

The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada’s Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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• Source: https://ncfacanada.org/lemonade-and-other-leading-insurtechs-form-coalition/