Indigo CEO Discusses Medical Malpractice Insurance Market
Indigo CEO Jared Kaplan outlines the company's approach to the $20 billion medical malpractice insurance market and identifies key pain points.
Jared Kaplan, CEO of Indigo, has provided insights into the company's market strategy and operational focus in an interview with CB Insights.
Kaplan described Indigo's operational area as the $20 billion medical malpractice insurance market. This market serves both insured and self-insured healthcare organizations. He highlighted several significant challenges within this sector.
A primary pain point identified is the difficulty independent physician groups face when procuring medical malpractice insurance. The process involves completing a lengthy, 15-page application with approximately 300 questions. Submitting this application to an underwriter can result in quote delays of days or even weeks. Furthermore, Kaplan noted that pricing is often not based on an individual's specific risk profile, leading many groups to pay premiums that do not align with their actual risk.
Indigo aims to address these inefficiencies by streamlining the insurance procurement process. The company seeks to offer a more accurate and responsive alternative for healthcare providers seeking malpractice coverage.