This article showcases our top picks for the best Chicago based InsurTech companies. These startups and companies are taking a variety of approaches to innovating the InsurTech industry, but are all exceptional companies well worth a follow.
We tried to pick companies across the size spectrum from cutting edge startups to established brands.
We selected these startups and companies for exceptional performance in one of these categories:
- Innovative ideas
- Innovative route to market
- Innovative product
- Exceptional growth
- Exceptional growth strategy
- Societal impact
Top Chicago InsurTech Companies
Clearcover is a digital car insurance provider offering better coverage for less money. The company’s API-first approach enables customers to have great insurance at affordable rates.
Founded in 2016, Clearcover is headquartered in Chicago, Illinois.. .
ThreeFlow is a Benefits Placement System, a new category of enterprise software that allows brokers and carriers to manage the entire placement process in one shared system. They make it easier for carriers to win business and brokers to empower employers with the details they need to make benefits selections.
By connecting people, systems, and information, they enable easier communication, a quicker process, and better decisions making busy people more productive. ThreeFlow was founded in 2015 and is headquartered in Chicago, IL, USA..
Kin Insurance is an insure-tech startup that specializes in fixing home insurance. It focuses in the fields of insurance, homeowners insurance, condo insurance, and insure-tech wich helps people to secure their assets and acquire houses and properties.
The company was founded in 2016 and headquartered in Chicago, Illinois.. .
Insureon is the number one independent marketplace for online delivery of small business insurance. Insureon’s online platform aggregates insurance options from over 50 carriers to allow small business owners options in purchasing commercial insurance, including cyber, E&O, workers’ comp, general liability, and more.
Insureon was founded in 1997 and is based in Chicago, Illinois.. .
PartsTrader Markets Limited
PartsTrader provides the PartsTrader platform in the US and New Zealand. PartsTrader is an easy-to-use online marketplace that provides collision repairers with a single source for procurement of parts from leading OEM dealers, parts recyclers, and alternative parts suppliers.
In the US more than 9,500 collision repairers now source parts from 9,000 suppliers using PartsTrader every day. US collision repairers spend more than $12 billion annually on parts and 13% of that spend is ordered electronically via PartsTrader.
The platform has complete US national coverage with more than 8,500 suppliers for all makes and all types of collision parts. PartsTrader is designed to give repairers a unique real-time competitive marketplace, allowing them to make the best parts procurement decisions after gathering information they need to consider part quality, delivery time, supplier reputation, supplier terms and part prices.
PartsTrader now has more than 140 dedicated staff throughout the US and New Zealand. For more information about PartsTrader, visit our website at www.partstrader.us.com..
Snapsheet is an auto insurance marketplace for motorists, drivers, and auto insurance carriers. They provide unmatched technology and processes that improve customer engagement, provide organizational agility, and realize real transformational benefits for more than 75 clients around the world.
This is accelerated by how they continuously learn from and evolve our data-driven technology which improves analytics and decision-making across the entire claims process. Snapsheet was founded in 2010 and is headquartered in Chicago, Illinois..
Zing Health Holdings, Inc. is a tech-enabled insurance company making Medicare Advantage the best it can be for those 65-and-over.
Zing Health has a community-based approach that recognizes the importance of the social determinants of health in keeping individuals and communities healthy. Zing Health aims to return the physician and the member to the center of the health care equation.
Members receive individualized assistance to make their transition to Zing Health as easy as possible. Zing Health offers members the ability to personalize their plans, access to facilities designed to help them better meet their healthcare needs and a dedicated care team..
Nomad Credit is a financial marketplace for those underserved by other marketplaces. They aim to find the right product for international students and/or visa holders currently or planning to live in the U.S.
The main visa holders they serve are F1, J1, L1 and H-1B visas. Nomad Credit allows international students and visa holders to search for education loans, education loan refinancing, personal loans, auto loans, auto insurance, student medical insurance, renters insurance and credit cards.
Based upon the information provided in a search, Nomad Credit will provide the potential options for that international student or visa holder to compare.. .
PolySystems’ market leading software is widely used throughout the insurance industry. They offer valuation, modeling, and experience study software to life, health, and annuity companies.
With a unique combination of flexibility and out of the box functionality, PolySystems can be used to calculate reserves and capital, perform asset/liability projections for CFT and planning, set assumptions, carry out sensitivity and stochastic analyses, manage inforce profitability, price products and more from a single platform. PolySystems’ Horizon software module is used at the beginning of actuarial software processes to gather, edit, manage and prepare policy inventory data from admin systems or data warehouses.
PolySystems’ Master and Delphi software modules work together to calculate reserves and perform projections in production-grade enterprise environments as well as individual PCs. Their software can be automated to run without user intervention for touchless valuations and projections.
Their software’s reporting capabilities span from raw data output, to predefined and customized reports. Comprehensive support for today’s challenging insurance products and regulatory reporting requirements are built into the design..
Quotepro has been connecting insurance carriers to agencies to customers. Quotepro began as a comparative rating company to meet the growing demand for specialty auto insurance after a 1990 law in Illinois made auto insurance compulsory.
Since then, Quotepro has pioneered online rating, consumer-facing rating and selling insurance policies online. Quotepro continues to connect insurance agents & carriers with customers through innovative channels whether they be in an agents office, online, through a mobile device or even at one of therevolutionary cash-accepting kiosks that can completely serve the financial needs of the unbanked..
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