InsurTech TrackActive collaborates with Gen Re to ‘reinvent’ healthcare insurance
TrackActive, a UK-based InsurTech startup, said it is on target to raise the £300k it needs in seed funding after it partnered with Gen Re, lead investor HR Tech Partnership, and other angel investors through Seedrs.
When all seed funding is in place, the company plans to further develop its AI-enabled TrackActive Me product, which will use digital technologies to “reinvent” the way healthcare insurers interact with their members and health care providers. This means mobile and web apps, online portals, connected devices, sensors, and AI-based technologies that help to expand the value chain of a payor organisation into health care delivery.
Ultimately, it aims to reduce global healthcare and productivity costs related to musculoskeletal conditions. The company said it could save health insurers billions of pounds sterling each year.
As a result of its partnership with Gen Re and its client base, TrackActive has recently started closed beta testing with Insurance Australia Group (IAG).
Co-founder Michael Levens said: “There is a massive opportunity for insurers to embrace our AI tech and significantly reduce their claims costs, as back pain and other musculoskeletal conditions are a huge problem for them, as well as for economies and healthcare systems. “This seed funding, with backing from specialist VC the HR Tech Partnership and others, will enable us to bring TrackActive Me to market. The opportunity to invest is still open, but we will be closing soon, so anyone interested should go to crowdfunding website Seedrs to take part.”
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
More of today's news S&P looks beyond Brexit to warn of threats from tech and potential global downturn
Aspen partners with Lodestar Marine on P&I insurance
Mitsui Sumitomo, Nationwide lead $5.2m investment in insurtech Socotra
Generali acquires majority stake in French asset manager
Ryan Specialty snaps up North Carolina managing general underwriter
RFIB expands African operations with new headquarters
Download our whitepaper: 'Why Automation & AI Matters For Commercial Lines'
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze