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Bluezone's mission is to improve the lives of those with chronic diseases by offering life insurance that empowers customers to live healthier lives.
The global life insurance industry has changed considerably in the last 10 years. Massive increases in uptake among developing countries have turned formerly small markets, such as that in Asia, into global growth drivers, with developing countries now accounting for more than half of global premium growth. Increased availability of data has shifted insurers further towards analytics and use of AI, and digital advances have greatly increased expectations of customer service and transparency in this market.
Bluezone, an early-stage startup offering specialist life insurance for those living with chronic health conditions. Bluezone's key strategy is to disrupt traditional approaches to life insurance, which merely pay out should a certain events transpire. Instead, Bluezone focuses on actually trying to change its users' lives for the better, offering them rewards for commitments to improving their conditions, and helping users to make positive adjustments to their lifestyles. Essentially, Bluezone combines insurance with personal wellness.
For Bluezone, there are two key future trends to look out for. First is the growing demand in this market for personalised insurance products, with experts predicting that flexible coverage options, micro insurance and peer-to-peer insurance will become key features in this market in the near future. Second, use of analytics and AI is expected to grow in this field, massively increasing the speed at which claims can be handled and likely becoming an essential tool to be employed by insurance companies wanting to keep up with the pack. If Bluezone can grow in a way which harnesses the changes occurring in this market for the better it has a great opportunity to thrive.
Freddie
Company Specialist at Welcome to the Jungle
May 2022
$1.9m
SEED
Dr Karan Mehta
(CEO)Karan has worked extensively for the NHS, as a medical doctor and clinical entrepreneur fellow, and has commercial experience working for the likes of Babylon Health and Startupbootcamp. He is also completing a PhD in use of AI in healthcare at UCL.
Chris Bracegirdle
(CTO)I'm a builder: of tech, teams, and businesses. 3 degrees, 2 ML startups, and 1 shot at life. I sold my last project to Rightmove where I worked for the last three years, so I know a lot about proptech
Jai Patel
(Marketing lead)