Insurtech companies in Ohio benefit from talent, collaboration and cost advantages
Terry Gore, Director of Financial Services
The insurance industry is undergoing a major transformation, and Ohio is leading the revolution. Emerging technologies, such as big data, wearable devices and artificial intelligence, are changing consumer expectations and preferences and forcing the insurance industry to change with them.
The transaction process can be painful, but Billon is working to eliminate the hassles of payments and any potential for hacking. The money goes directly from one person to another without any intermediaries. Whether you’re sending a large payment or transferring even 1 cent, Billon makes it possible without fixed fees, waiting, risks or paperwork. Thanks to Fintech71, companies such as Billon are getting excited about the opportunities that Ohio offers for a fintech competitive advantage.
Many of the jobs created in the last several years, including part-time and contracted work, operate outside of conventional company lines. This trend will only continue. Steady is using patent-pending, job-matching technology and a personalized user experience to help these independent workers optimize their opportunities, incomes and rewards.
Built by school business managers and parents, Phoenix’s Skookii is a way for parents in public, private, rural and charter schools to make payments through mobile or web applications and have a little fun doing it.
Ireland’s ID-Pal is looking to save businesses time by connecting them to their customers in a matter of minutes. Smaller companies don’t have the capability or capacity to integrate third-party technology into their operations. ID-Pal’s know your customer solution resolves this issue for small to medium-sized enterprises.
One of the greatest pains is dealing with the accessibility of information through a mobile device. When the CEO of Elafris, an AI chatbot for insurance optimization, spent several minutes trying to get to his insurance information through an app, he decided it was time to find a solution. That’s when he created Elafris.
HEXANIKA founder, Yogesh Pandit, witnessed firsthand how banks struggled with costs and resources required for regulatory reporting. That’s when he decided to create HEXANIKA as a solution. HEXANIKA was a selected startup for the Fintech71 accelerator program.
Ohio is a catalyst to never before seen industry collaboration
Andrew Deye, senior director, JobsOhio
JobsOhio supports Fintech71, which brings fintech startups together with market leaders in financial services and insurance. Not only did this initiative positively impact the scale-up companies, it also sparked innovation with current market leaders.