Overview

Health IQ specializes in providing tailored insurance solutions for health-conscious individuals, focusing on products like Medicare and life insurance. The company uses proprietary data analytics to analyze clients' health records, allowing it to match them with insurance plans that offer better benefits and lower costs. This data-driven approach helps clients save money while ensuring they receive the most suitable coverage for their specific health profiles. Health IQ partners with national insurance carriers and searches through over 3,000 plans to find the best options for its clients. The company earns commissions from insurance carriers when clients purchase plans through its platform, aligning its interests with those of its clients. Health IQ aims to optimize insurance coverage for health-conscious individuals, making it a valuable resource in the insurance brokerage market.

Simplify's Take

What believers are saying

• Focus on Medicare could capitalize on the growing aging U.S. population.
• Shift to P&C insurance may diversify offerings and stabilize revenue streams.
• New branding and Medicare focus may enhance customer loyalty and retention.

What critics are saying

• Bankruptcy filing and liquidation plans threaten operational continuity.
• Exit from life and auto insurance may alienate existing customers.
• Sole focus on Medicare could limit market reach and diversification.

What makes Health IQ unique

• Health IQ specializes in insurance for health-conscious individuals using data analytics.
• The company offers customized insurance plans with better benefits and lower costs.
• Health IQ partners with national carriers to search over 3,000 plans for clients.

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Funding

Total Funding

$132.8M

Below

Industry Average

Funded Over

4 Rounds

Notable Investors:

Andreessen HorowitzFirst Round CapitalGreylock Partners

Notable Investors:

Andreessen HorowitzFirst Round CapitalGreylock Partners

$55,000,000

Series D

May 2019

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.

Series D Funding Comparison

Below Average

Industry standards

Ind Avg. $77M

$49M

$50M

$55M

$70M

$80M

$100M

View all funding stages