Health IQ uses science and proprietary data to price life insurance and reward runners, cyclists, weightlifters, well-managed diabetics, and other health-conscious individuals with lower rates. Its core products include special rate life insurance (including for well-managed diabetics) and special rate disability insurance, and the company has continued to introduce new products. Since first selling policies in 2016, Health IQ has rapidly scaled to $21 billion in client coverage, adding roughly $2 billion every few weeks and tripling coverage since its last funding announcement in 2017. Over the last three years the company says client savings from rates and underwriting have increased from 4% to 41%; the average client saves $4,289 in rate savings and up to $6,279 through underwriting savings over a 30-year policy. Health IQ positions itself as the nation’s fastest-growing life insurance company and emphasizes continued product innovation and expansion. The company intends to keep leveraging its data advantage to more accurately price insurance and expand offerings for health-conscious Americans. Health IQ uses an online health quiz and lifestyle criteria to qualify consumers for lower life insurance rates. Users who pass the quiz receive a 4% discount and can earn an additional 4% for meeting fitness thresholds such as running an eight‑minute mile. The quiz has been taken by about one million people and the company places policies through insurance carriers, earning commissions on each sale. Founder Munjal Shah started the business after a personal health issue following the sale of his prior startup, Riya, to Google. Health IQ says its approach can save some customers roughly 25% compared with other insurers. The company has expressed an interest in expanding into health insurance, though it notes U.S. system constraints on offering lower rates to healthy people.

Total raised

$90M

Funding rounds

2

Latest round

Series D

Latest activity

May 2019