Discover the Evolution of InsurTech in the United States: A Blossoming Relationship Fueled by COVID, with this article by The Fintech Times. Explore the transformative journey of InsurTech within the American landscape amidst the challenges of the COVID-19 pandemic. From the emergence of unicorn startups to the surge in telemedicine adoption, delve into the dynamic shifts reshaping the insurance industry. David Gritz of InsurTech NY is featured discussing the InsurTech NY startup Accelerator and the current state of American health insurance.

After a year of economic turmoil, the US emerged from 2020 with its insurtech crown intact. American companies accounted for 39 places in FinTech Global’s InsurTech 100 (2020) – almost double that of its closest competitor. Of the insurtech megarounds completed by the third quarter, 75% took place in the US, with insurtechs flourishing in startup strongholds like Silicon Valley and New York, and across the Midwest and South.

During Covid, many insurtechs have not just survived – they have thrived. Lemonade became the first US insurtech to go public last July, and was followed by a wave of insurtechs. At least 15% of tech IPOs in 2020 belonged to insurtechs, in the opinion of JP Morgan’s Tushar Virmani. Duck Creek raised $405 million when it went public in August, and Ohio’s Root gained nearly three-quarters of a billion when it debuted on Nasdaq. Clover Health announced a forthcoming IPO the same month (it took place two weeks ago) as did Metromile in November, and Oscar Health in December.

Read the full article here now, courtesy of The Fintech Times, to witness the extraordinary resilience and ingenuity of the InsurTech ecosystem in the face of adversity.