The insurance industry is changing how it manages financial risks by using new and emerging technologies. Companies can offer better insurance products to their clients through technological advancements, such as artificial intelligence (AI) and predictive analytics. This article will list some of the top insurance tech companies and jobs to help you navigate this industry.
If you are an IT professional, this guide can direct you to the best firms to work for. We will also provide you with essential information on skill requirements, current openings for tech jobs, employee benefits, salaries, and company overviews.
Do Insurance Companies Hire Tech Workers?
Yes, insurance companies hire tech workers. Insurance companies aim to focus on customer satisfaction and provide the best services possible. So, it is essential to utilize available technologies such as advanced management tools, mobile applications, and machine learning models to achieve that.
With the use of these technologies comes the high demand for tech professionals. Moreover, because of the upward hiring trend, if you are an IT specialist seeking work in the insurance tech industry, you can be certain of job stability. Insurance technology is transforming the industry’s future, and IT experts will play a key part in this transformation.
Which Tech Experts are Insurance Companies Hiring?
- Software engineer: Insurance companies are starting to build their own software, increasing the need for software engineers who can use their digital transformation skills. Software engineers create insurance quoting software, compliance solutions, and policy management software.
- Data scientist: Data science is crucial for insurance companies to assess potential cyber risks. Data scientists gather big data from credit reports, websites, government statistics, and social media to analyze information and help predict financial outcomes.
- Data analyst: Data analysts help keep insurance companies’ financial investments safe by studying advanced data and applying predictive analytics to make data-driven business decisions.
- Security analyst: Insurance and financial institutions are heavily targeted by cyber attacks. Cyber security professionals monitor networks and catch security breaches to prevent attacks. They maintain security features, including firewalls, data encryption programs, and antivirus software.
- Systems analyst: The role of systems analysts is to evaluate a company’s current management systems, determine workflow bottlenecks, and suggest enhancements to improve and hasten business processes.
Most In-Demand Tech Skills in Insurance
- Coding skills
- Database administration skills
- Analytics skills
- Web development skills
- Math skills
Top 15 Insurance Tech Companies to Work For
| Company | Global Workforce | Offices | Employee Benefits |
|---|---|---|---|
| Oscar Health | 1,000 | New York City, Arizona, California, Texas | Health/dental insurance, 401k, professional development, child care, parental leave, paid holidays, paid sick days |
| Bright Health | 2,056 | Minnesota, Alabama, Arizona, Colorado, New York, Texas | Health/dental insurance, mental health care, disability insurance, life insurance, Flexible Spending Account (FSA), 401k plan, vacation and paid time off |
| Clover Health | 458 | Tennessee, San Francisco, New Jersey | 401k, paid parental leave, medical plans, dental plans, vision plans, commuter benefits program, health and wellness benefits, life insurance, paid volunteer days, vacation and paid time off |
| Hippo Insurance | 549 | California, Texas | Health/vision/dental insurance, disability insurance, accidental death insurance, life insurance, 401k, performance bonus, maternity and paternity leave |
| Amwell | 812 | Massachusetts, Virginia, Washington DC | 401k match, health/vision/dental insurance, employee stock purchase program, pet insurance, tuition assistance program, free subscription to the Calm app, and free access to the company’s Amwell Telehealth Services |
| NEXT Insurance | 761 | California, Texas, Massachusetts, New York | Health/vision/dental insurance, Flexible Spending Account (FSA), health savings account (HSA), 401k plan, stock options, maternity and paternity leave, fertility assistance, paid vacations and holidays |
| Gusto | 1,864 | California, New York, Denver | Health/vision/dental insurance, 401k, life insurance, stock options, maternity and paternity leave, fertility assistance, family medical leave, paid volunteer time, paid vacations and holidays |
| Bestow | 219 | Texas, South Dakota | Health/dental/vision insurance, performance bonus, 401k plan, generous paid time off and paid sick leaves |
| Metromile | 356 | California, Massachusetts, Arizona | Health/dental insurance, 401k plan, stock rewards, 13 paid holidays, 12 days paid leave, annual anniversary gifts |
| Lemonade Insurance | 567 | New York, South Dakota | Health insurance, 401k plan, maternity and paternity leave, vacation and paid time off |
| Hi Marley | 99 | Massachusetts | Health/dental insurance, 401k plan, wellness initiatives, parental leave |
| Policygenius | 635 | New York | Health/dental/vision insurance, life insurance, short-term disability benefits, 401k match, paid parental leaves |
| Anthem Inc. | 98,000 | Indiana | Health/dental/vision insurance, Health Savings Account (HSA), Flexible Spending Account (FSA) |
| Humana | 48,700 | Florida | Health/dental/vision insurance, 401k plan, retirement plan, performance bonus, vacation and paid time off |
| Corvus Insurance | 100 | Massachusetts | Health/dental/vision insurance, 401k match, disability benefits, life insurance, performance bonus, paid holidays, generous PTO, child care benefits |
Top 5 Tech Companies to Join in Insurance: A Closer Look
Oscar Health
Oscar Health, Inc. is an American health insurance company founded in 2012. It was conceptualized and built fully around a full stack technology platform. Its focus is to redesign insurance services by taking a more customer-centric approach. It uses technology to improve patient-doctor relationships and provide better health plans for clients.
Tech Workers Employed by Oscar Health
- Lead developer
- Software engineer
- Data scientist
- Product designer, design systems
- IT engineer
Current Job Openings at Oscar Health
The following jobs were open as of February 2022:
- Appian Lead Developer | $63,586 (Average salary for this position): As the lead developer, you will be responsible for the rollout of the company’s Appian as a business process management tool. You will conduct the entire implementation of the Appian platform across the organization.
- Software Engineer, Web, and Mobile | $124,000 (Average salary for this position): As a software engineer, you will help build reliable and maintainable web and mobile applications. You will assist in building digital tools for doctor-patient management and other applications to improve patient care.
- Data Scientist | $144,863 (Average salary for this position): Your role is to organize disparate data sources into structured and clean data models. You will use the concepts of machine learning and statistics to predict critical aspects of business insurance.
Bright Health
Bright Health Group is an American insurance company founded in 2016 with a focus on consumer-centric technologies. It integrates technology, financing, and patient care into its software platform to make the healthcare experience easier for consumers. Its main products are health insurance plans, offering healthcare at lower costs for those enrolled in their programs.
Tech Workers Employed by Bright Health
- Analytics consultant
- DevOps engineer
- Software engineer
- Information security analyst
- Systems engineer
Current Job Openings at Bright Health
The following jobs were open as of February 2022:
- Analytics Consultant | $85,246 (Average salary for this position): The role of the analytics consultant is to conduct data analysis on the company’s products, including Medicare Advantage and various health plans. Analysts will also help in risk assessment and prevention of data leakage.
- DevOps SW Engineer | $108,360 (Average salary for this position): DevOps engineers help build internal tools and automation processes to support and help software developers finish their jobs faster.
- Software Engineer-Consumer Platform | $106,048 (Average salary for this position): As a software engineer, you will contribute to developing web and mobile applications, work on technical designs and app features, and resolve bug issues.
Clover Health
Clover Health Investments Corp. is a health care company that started in 2014 selling Medicare Advantage health plans. It created an AI platform called Clover Assistant, which alerts physicians with medical events related to their direct patients. The company directs its marketing focus on underserved areas such as Arizona, New Jersey, Pennsylvania, Texas, and Alabama.
Tech Workers Employed by Clover Health
- Data scientist
- Software engineer
- Identity and access management engineer
- Site reliability engineer
- UX designer
Current Job Openings at Clover Health
The following jobs were open as of February 2022:
- Data Scientist | $128,115 (Average salary for this position): Your role as a data scientist is to create code for Clover’s data framework and help build machine learning models for the company’s operational processes. You will also run tests, experiments, and analyses on data to help the company make data-driven decisions.
- Software Engineer | $118,207 (Average salary for this position): Software engineers create tools and service models that will simplify the complexities of healthcare transactions. You will add features to existing applications and stay updated with new tools and technology to help resolve technical problems.
- Identity and Access Management Engineer | $96,984 (Average salary for this position): Your role as an identity and access management (IAM) engineer is to oversee the configuration and administration of the company’s Access Control and related technologies.
Hippo Insurance
Hippo Insurance services is an American home and property insurance company established in 2015. It offers unique packages that not only insure your home, but also cover your most treasured electronics and home office equipment. It is the only insurance company that offers complimentary smart home devices and home care services and uses advanced technology for home checkups.
Tech Workers Employed by Hippo Insurance
- Data platform manager
- Senior data analyst
- Security engineer
- Systems analyst
- IT support specialist
Current Job Openings at Hippo Insurance
The following jobs were open as of February 2022:
- Data Platform Manager | $65,935 (Average salary for this position): Data platform managers design, develop, and maintain the company’s data infrastructure. They collaborate with engineers to create a long-term data platform roadmap for the company.
- Senior Data Analyst, Core Analytics | $84,096 (Average salary for this position): Your role as a senior data analyst is to design the company’s key performance metrics and lead the business intelligence practice. You will also help build tools that will allow employees to gain access to data insights and find ways to improve the company’s workflow.
- Security Engineer-Red Team | $95,772 (Average salary for this position): As a security engineer, you will conduct penetration testing against the company’s products and infrastructure. You will also participate in product application security reviews, dynamic testing, and code reviews.
Amwell
Amwell, formerly known as American Wellness, is a provider of a telehealth application that connects doctors and patients through a videoconference platform. The application is a subscription service that enables users to consult with doctors in various practices, access their medical history, and receive medical prescriptions even without going to a hospital or clinic.
Tech Workers Employed by Amwell
- Junior IT engineer
- Cloud data engineer
- Data architect
- Software engineer
- Site reliability engineer
Current Job Openings at Amwell
The following jobs were open as of February 2022:
- Junior IT Engineer | $105,362 (Average salary for this position): You will help maintain the IT infrastructure by ensuring all systems, servers, networks, laptops, workstations, and mobile devices are working accordingly. You will also support the IT Help Desk and help resolve issues on trouble tickets.
- Cloud Data Engineer-Conversa Sr. DevOps | $127,634 (Average salary for this position): Your role is to help develop automated software models. You will be involved in testing, deployment, and making key decisions in the development of cloud-native engineering models.
- Data Architect | $122,917 (Average salary for this position): As a data architect, you will play a big part in migrating the company’s platform from legacy solutions to cloud data solutions. For this role, you will need a strong background in data management to assess the company’s data architecture and maturity and apply industry-accepted standards.
Where to Find Job Openings for Insurance Tech Companies
IT and Tech Job Boards
You can search for work in job boards specific for start-up tech companies and remote IT workers. Check out Angelist, BuiltIn.com, Dice, Mashable, GitHub, and Indeed. Use each site’s job filter to search for available tech jobs in insurance companies.
Social Media Niche Groups
If you search through social media, you can find niche groups specific to IT and insurance job posts. You can find such communities on Facebook and Twitter. If you’re aiming to apply to particular insurance companies, follow their social media accounts to get updates on possible job posts.
Professional Social Networking Sites
Professional networking sites such as LinkedIn, Jobcase, Bark, and Xing are good platforms to source jobs in tech insurance. Follow company profiles, link with insurance providers, and search job postings within the platform.
Should I Get a Tech Job in Insurance?
Yes, you should get a tech job in insurance. If you are an IT professional interested in finance, you should strive to find a job in this industry because of the many career opportunities. Landing a full-time job in an insurance tech company can ensure job security, high pay, and long-term insurance benefits.
Insurance Tech Companies FAQ
No, you do not need a degree to get a job in the insurance tech industry. However, you should have the requisite skills and experience the job requires. You can get professional certificates and upskill through short courses and coding bootcamps to upgrade your credentials. Given the opportunity, it is still best to pursue a four-year degree program to expand your options.
The highest-paid professionals in the insurance industry are software developers, analysts, and actuaries. They do jobs that require coding and analytical skills. Software developers receive a median pay of $110,140 per year while actuaries earn $111,030 yearly, plus generous employee benefits.
Yes, there are a lot of remote jobs in the insurance tech industry, especially now that companies are transitioning into remote work due to the pandemic. Much of the work IT professionals do, such as coding, data analysis, and cyber security, can be performed remotely,
Some of the technologies that insurance companies use include predictive analytics, artificial intelligence, machine learning, the Internet of Things (IoT), telematics, Insurtech, and social media data. These technologies make insurance services faster and more accurate, especially when requesting quotes and managing coverage through mobile apps.
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