Assurance IQ

Assurance IQ

Personalized insurance and finance recommendations

About Assurance IQ

Simplify's Rating
Why Assurance IQ is rated
C+
Rated D+ on Competitive Edge
Rated B on Growth Potential
Rated B on Rating Differentiation

Industries

Fintech

Financial Services

Company Size

1,001-5,000

Company Stage

Acquired

Total Funding

N/A

Headquarters

Bellevue, Washington

Founded

2016

Overview

Assurance IQ helps individuals find the right insurance and personal finance solutions. It operates as a licensed insurance agency, providing personalized recommendations for various types of insurance, including health, life, and short-term medical coverage. The company uses a technical platform that tailors suggestions based on each client's specific needs, simplifying the insurance shopping process. Assurance IQ stands out from competitors by offering a free service funded through commissions from insurance providers, ensuring users receive expert guidance without extra costs. Backed by Prudential Financial, the company aims to enhance the personal and financial well-being of its clients while focusing on growth and excellent customer service.

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Simplify's Take

What believers are saying

  • Increased adoption of AI-driven underwriting enhances Assurance IQ's competitive edge.
  • The rise of telematics in auto insurance presents new product opportunities for Assurance IQ.
  • Growing demand for flexible insurance products tailored to gig workers offers growth potential.

What critics are saying

  • Ongoing financial losses may impact Assurance IQ's investment in new technologies.
  • Increased competition from insurtech startups could erode Assurance IQ's market share.
  • Closure of the Nectar platform might limit Assurance IQ's revenue streams and partnerships.

What makes Assurance IQ unique

  • Assurance IQ offers personalized insurance recommendations through a sophisticated technical platform.
  • The company provides free services by earning commissions from insurance providers.
  • Assurance IQ benefits from Prudential Financial's strong financial backing and industry expertise.

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Funding

Total Funding

$0

Below

Industry Average

Funded Over

1 Rounds

Acquisition funding comparison data is currently unavailable. We're working to provide this information soon!
Acquisition Funding Comparison
Coming Soon

Benefits

Top-Notch Health Benefits - Our insurance includes comprehensive medical, dental, vision, plus we offer Weekly Wellness Sessions to help reduce stress and improve focus.

Competitive Compensation - Our salaries are competitive and many include a bonus plan. All employees get access to a 401K so you can invest in financial wellness.

Time When You Need It - We offer generous vacation time. We also offer 16 weeks of paid parental leave.

Unmatched Growth Opportunities - Advance your career rapidly with leadership development training, coaching, and a culture of candid feedback and internal promotion.

Career Development - Never stop learning with access to continuing education opportunities like Assurance 101 and Assurance University.

Day-to-day Your Way - Create a comfortable home office with a company laptop and peripherals provided. We also offer commuter benefits for those coming to an office.

Growth & Insights and Company News

Headcount

6 month growth

-4%

1 year growth

-1%

2 year growth

-1%
Coverage
Mar 25th, 2024
Assurance IQ closes Nectar

In 2021, Assurance IQ launched Nectar, a platform offering auto, home, and life insurance leads to third-parties such as agents.

Coverage
Mar 25th, 2024
Assurance Iq Closes Nectar

In 2021,. Assurance IQ <i class="fa fa-info-circle company-popover" data-content="h3Assurance IQ/h3. div

PR Newswire
Nov 15th, 2023
Assurance Iq Leverages The Innervate Experience Orchestration Platform To Power World-Class Marketing Experiences

With Innervate, Assurance IQ is building a high-performance, scalable future.SAN CARLOS, Calif., Nov. 15, 2023 /PRNewswire/ -- Innervate , the dynamic customer experience (CX) company, today announced that Assurance IQ , an insurance technology company that aims to simplify the process of purchasing insurance by using technology and data-driven solutions, is leveraging the Innervate platform to orchestrate marketing experiences. With Innervate's platform, Assurance IQ immediately gained access to scalable creative production, consistent branding, tighter data controls and better-performing creative across numerous CX use cases.Assurance iQ needed to break down silos to work more effectively with an eye toward scaling in the future. Sometimes, performance data never made it to the right team or right channel. Creative efforts were frequently replicated and redundant, and Assurance IQ needed a plan of attack for growing its creative content at scale without all the hassle and while capitalizing on solid data.With the Innervate solution, Assurance IQ has a scalable content platform to evolve its brand. Post this"Innervate is thrilled to partner with Assurance IQ on its mission to deliver world-class customer experiences designed to protect and improve the personal and financial health of all consumers," Mitchell Weisman, co-founder and CEO of Innervate, said

Coverage
Feb 7th, 2023
Assurance Iq Ends Losing Streak

After twelve consecutive quarters of losses totaling $381 million, . Assurance IQ <i class="fa fa-info-circle company-popover" data-content="h3Assurance IQ/h3. div

Finsmes
Feb 1st, 2023
How The Digital Revolution Is Transforming The Insurance Business

The digital revolution is in full swing, and the insurance industry is no exception. Insurance companies are under pressure to modernize their operations and adopt new technologies to remain competitive. Digital transformation is bringing new opportunities for growth and efficiency, as well as challenges. In this blog post, we’ll take a look at how the digital revolution is impacting the insurance industry and what insurers need to do to stay ahead of the curve.The Insurance IndustryWith media attention on the insurance industry and how companies interact with consumers rising, businesses are feeling the pressure to ensure their practices are more transparent and that they provide a fairer value for customers. Consumer demand is increasing, requiring insurance companies to act quickly and respond in order to meet expectations and remain competitive and relevant. Technology has had a huge part to play, as it brings greater levels of efficiency and cost savings, which are then passed onto customers. Companies must also be mindful of regulations in this area as well, where governments have implemented laws that help protect consumers from deceptive practices. The current landscape of the insurance industry certainly provides an interesting challenge for companies to try and adapt at a pace in order to remain relevant!Overview of the Digital Revolution and its Impact on the Insurance IndustryThe digital transformation of the 21st century has irrevocably changed how insurance customers interact with their insurers

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