Top 100 Insurtech Firms 2019 - 2: Clover Health
This article was funded by a third party, but the funder had no editorial control.
Last year’s position: 16
Country: US
Founded: 2013
Website: www.cloverhealth.com/en
The story so far: Clover Health, founded in 2013, is a health insurer that uses a data-driven system to allow for more in-depth personalisation.
The venture leverages data science to explore the correlation between member experience and clinical outcomes, as part of efforts to make home visits more effective and lower costs. The Clover data analytics platform creates and monitors clinical profiles, which helps the venture reduce avoidable spending and combat chronic diseases by reporting back to the physicians, who can then suggest appropriate clinical measures. It currently has around 40,000 members across seven states.
Clover Health has received over $925m worth of funding across six funding rounds, backed by Greenoaks Capital, Sequoia Capital and GV, among others. Despite some well-publicised losses over the years, Clover Health recently secured a $500m Series E. Around the same time as the announcement, it was also revealed chief technology officer Andrew Toy had been promoted to president and CTO, and secured a place at the board of directors. 2017 saw the venture valued at around $1.2bn.
Funding stage: Series E
Total funding: $925m
Insurance sector: Health
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