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Insurance premiums total more than a trillion dollars in the U.S., and yet, where that money goes is something of a mystery. It certainly doesn’t seem to get invested in the consumer experience, where ancient incumbent companies still process paperwork as if it is the 1800s, and consumers are left wanting for new insurance options that meet their needs.
Insurance might well be the last frontier for disruptive innovation, but now, a generation of insurance tech startups is bringing new data models and product experience talent to bear on this sclerotic industry. In the process, they may well become some of the most durable and profitable companies the industry has ever seen.
Startups - Questions - Industry - Insurer - Millions
Those startups face challenging questions. How can a startup even get started in an industry where an insurer often needs millions sitting on the balance sheet just to get started? How can a startup compete in a highly-regulated industry, where incumbents have the financial might to actively stamp out competition? Can there be such a thing as delightful insurance?
These are just some of the questions we will be investigating during a high-powered insurance tech panel at Disrupt SF this September 5-7. We will be joined by two founders who are spearheading a complete overhaul of the industry through their companies.
Mario - Schlosser - CEO - Co-founder - Oscar
Mario Schlosser is the CEO and co-founder of Oscar, a New York-based health insurance startup that has raised approaching a billion dollars in venture capital. Schlosser started programming as a young boy in Germany, and eventually moved to the U.S. to work on computer science research at Stanford. Later, he migrated to Harvard Business School where he met his Oscar co-founder Joshua Kushner.
Working with Kevin Nazemi, the trio launched Oscar in 2013 just as Obamacare’s exchanges were becoming operational....
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I find it extremely funny when people keep voting and expecting the government to change!