NYC’s booming health tech sector is well-positioned to tackle the unique challenges of the health insurance market thanks to its status as a major fintech hub.
Investment in insurance startups is particularly high at the moment, and a new school of New York companies are aiming to fundamentally change health insurance through more data-driven, user-friendly approaches.
Zipari is a vertically integrated cloud company founded in 2014 and designed to streamline interactions between health insurance carriers and consumers. Its true goal, however, is to “build brand satisfaction similar to the retail industry,” said CEO and founder Mark Nathan. “Insurance companies need to learn how to understand customers and respond similarly to other industries.”
By centrally aggregating information and facilitating clear, consistent communication, SaaS firms such as Zipari have the unique, tech-enabled opportunity to make the process friendlier for consumers, and easier all around.
“In order to create an optimal market with the security and safety net of insurance, its crucial that consumers and insurance companies work together,” said Nathan. “Insurance companies want consumers to get free annual physicals, adhere to medication, and listen to many other recommendations. These recommendations are good for society, but they are irrelevant if nobody listens.”