July 6, 2022

Angle Health - Health Insurance for today’s employees

Cesar Galvan

Startup Insurance Market

The employee insurance space is dominated by a few macro companies which continue to offer similar insurance products as those they offered decades ago. Due to startups being different from traditional companies in employee demographics and expectations, traditional employee insurance plans can be inadequate to the demands of such workers. This creates an opportunity for a unique insurance provider to arise and cover these specific needs.

Only in the Bay Area, startups employ around 175k people, most of which are in their 20s and 30s. With the total U.S startup population being approximately three times that of the Bay Area, this represents a market of over 500k employees that could benefit from specialized insurance.

Angle Health’s place in the market

Traditional insurance companies have failed to tailor their health insurance offerings to the startup market, and it is here where Angle Health thrives.

While competitors continue to operate in manners similar to those of past decades, Angle Health differentiates and offers a modern interface supported by an innovative backend, allowing them to operate more efficiently than traditional carriers. 

Since Angle Health’s product is targeted at young adults working in tech, the modern platform is crucial in garnering the attention of such people. Through a simple and intuitive design, Angle Health is able to present its product in a style much more familiar to their target audience while making the process of using insurance more intuitive than what competitors offer. Through the app, users can choose to talk to an operator at any time or search for relevant care facilities instantly. Features such as these, ensure that Angle members can take full advantage of their health insurance without the need of lengthy phone calls and unintuitive online websites.

Additionally from the appeal that Angle Health can have towards consumers, Angle Health also has an important technological infrastructure that puts them above traditional insurance. While competitors are held back by decades old infrastructure, Angle Health makes use of specialized software and tools such as machine learning to ensure the backend of their system operates at top efficiency offering their insurance holders the most appropriate service.

TSVC’s insight on AngleHealth

When looking to invest in new companies TSVC looks at three main factors: market, technology, and team.

While over 500k people are employed by startups in the U.S, with different needs from those of traditional employees, insurance carriers do not offer them a targeted product. It is here where a market opportunity exists for the insurance product Angle Health is looking to provide. 

Through technological innovation, Angle Health is able to offer a system that covers the needs of the market previously mentioned. Angle Health’s innovation allows them to be a more attractive option for startup employees by being more intuitive, and by being more efficient in the backend than competitors.

The team behind Angle Health is highly prepared in themes relevant to their mission of innovating in health insurance. CEO and co-founder Tylon Wang has worked in government and is familiar with highly regulated industries. Co-founder Anirban Gangopadhayay has experience as a software engineer and with machine learning models, having previously worked at Palantir. The technical expertise of the two founders is accompanied by the experience of advisor, Andrew Leeka, with nearly three decades in the health industry. The combination of the abilities and knowledge of this team can lead Angle Health to success.

Having identified a big market opportunity, developed the technology to be a step ahead of competitors, and being composed of a highly capable team, Angle Health proved to be a great investment opportunity for TSVC.



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