As insurance executives, you know that the industry is constantly evolving to meet the needs of consumers. One area that has been underserved for far too long is fertility care. That’s why Flora Fertility’s recent pre-seed funding round is such a game-changer. The innovative insurtech company has raised $1.5 million to develop and launch the first individually-owned fertility insurance solution across the US and Canada.

Infertility affects 1 in 6 individuals worldwide, with treatment costs often exceeding $50,000 and most patients paying out of pocket. Flora Fertility’s insurance product offers a groundbreaking solution, allowing individuals to own and manage their fertility insurance independent of their employer, providing portability and flexibility. This model makes fertility treatments more affordable and accessible to millions of individuals and families.

Led by Highline Beta, the funding round included investments from Cartography Capital, Everywhere Ventures, and a strategic group of angel investors. The financial backing highlights the significant potential of Flora’s solution, which addresses a critical gap in reproductive healthcare financing.

Flora’s distribution network includes partnerships with women’s health apps, SMB employers, and embedded platforms, reaching over 10 million prospective parents across North America. The company is also a graduate of the InsurTech NY MGA Lab Fall 2023 cohort, solidifying its position as a leader in fertility insurance innovation.

With a founding team that brings expertise in data analytics, actuarial modeling, and financial services, Flora Fertility is set to revolutionize how fertility treatments are funded. “No one has created an individual risk model for fertility until now,” said Dr. Christy Lane, co-founder of Flora. “We’re proud to lead this innovation, leveraging our expertise in women’s health, data science, and actuarial modeling to deliver a solution that will fundamentally change how people finance fertility treatments, especially in underserved and underfunded markets.”

As insurance builders, you have the opportunity to partner with Flora Fertility to develop parametric insurance solutions that meet the unique needs of your clients. With Riskwolf, you can turn real-time data into insurance. Using unique real-time data and dynamic risk modeling, we enable insurers to build and operate parametric insurance at scale. Simple. Reliable. Fast.

Investing in the future of fertility insurance is not only a smart business decision, but it’s also the right thing to do. By partnering with Flora Fertility and Riskwolf, you can help make fertility care accessible and affordable for everyone. Learn more about Flora Fertility’s groundbreaking solution and how you can get involved by visiting their website.

Source: Insurtech Insights