Health IQ

Health IQ

Health-focused insurance brokerage with data-driven plans

Overview

Health IQ serves as an insurance brokerage that helps health-conscious individuals find Medicare, life insurance, and other health-related coverage. Its product works by analyzing clients’ health information and comparing them against a database of over 3,000 plans from national carriers to identify plans that offer better value for each person’s health profile. The company earns commissions from carriers when clients purchase a plan through its platform, aligning its incentives with client outcomes. What sets Health IQ apart is its use of proprietary data analytics to tailor plans to individual health data and its focus on the health-conscious segment, rather than offering generic products. The goal is to provide customized, cost-effective insurance coverage that fits each client’s health needs and helps them optimize their protection in the U.S. market.

About Health IQ

Simplify's Rating
Why Health IQ is rated
D-
Rated D- on Competitive Edge
Rated D- on Growth Potential
Rated D- on Differentiation

Industries

Data & Analytics

Financial Services

Company Size

201-500

Company Stage

Series D

Total Funding

$136.5M

Headquarters

Mountain View, California

Founded

2014

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Simplify's Take

What believers are saying

  • Achieved $4,289 average Medicare savings and $21 billion coverage growth by 2019.
  • Pushed carriers to lower heart disease underwriting age from 60 to 55.
  • Delivered $2,020-$10,568 lifetime savings through customized health profiling.

What critics are saying

  • Bankruptcy filing liquidates all operations, wiping out $200 million from Andreessen Horowitz.
  • Domain healthiq.com expired, terminating client access and online services.
  • Layoffs from exiting life and auto segments destroyed revenue and workforce.

What makes Health IQ unique

  • Health IQ tailors insurance using proprietary health data analytics for health-conscious clients.
  • Matches clients to optimal Medicare plans from 3,000 options via AI algorithms.
  • Rewards lifestyles like cycling and veganism with up to 41% lower life insurance rates.

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Funding

Total Funding

$136.5M

Below

Industry Average

Funded Over

4 Rounds

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

$77M
$55M
Health IQ
$70M
Twilio
$80M
Handshake
$100M
Affirm

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

-1%
Forbes
Sep 11th, 2023
Andreessen Horowitz And Others Poured $200 Million Into Startup Health IQ. Now It's Bankrupt

Andreessen Horowitz and others poured $200 million into startup Health IQ.

Bloomberg Law
Aug 31st, 2023
VC-Backed Life Insurance Startup Health IQ Intends to Liquidate

Health IQ, a life insurance startup backed by prominent investors including venture capital firm Andreessen Horowitz and a growth fund managed by Aquiline Capital Partners, has filed bankruptcy with plans to liquidate.

Coverager
Dec 19th, 2022
Layoffs At Health Iq

Based on information obtained by Coverager, . Health IQ <i class="fa fa-info-circle company-popover" data-content="h3Health IQ/h3. div

Coverager
May 5th, 2022
Health Iq Has A New Look

The company now has a new look as it dedicates itself to the medicare space.  The post Health IQ has a new look appeared first on Coverager - Insurance news and insights.

Coverager
Apr 13th, 2022
Health Iq Exits The Life And Auto Space

This decision resulted in a number of employees losing their jobs. The post Health IQ exits the life and auto space appeared first on Coverager - Insurance news and insights.

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