Emerge, a Hartford, Conn.-based online emergency insurance platform, raised $1.8m in funding.
Backers were not disclosed.
The company is using the funds to launch the platform and boost growth.
Founded by Wes Thompson, former Sun Life Financial U.S. president, Emerge is an online virtual advisor, known as Max, to allow consumers to find emergency insurance to cover the costs of medical emergencies. Emerge – which has been licensed in all 50 states – is partnered with cobuilding platform Rokk3r Labs.
Emergency insurance products complement health insurance by providing a cash benefit that can be used for any out-of-pocket costs related to a covered illness or accident.
People can use Max to have questions asked about health, lifestyle and budget before providing a free Personal Protection Plan and a Risk Report containing insurance options.
Max is powered by an algorithm that recommends only what users need to help cover health insurance gaps.
With Emerge, anyone can get coverage advice and compare quotes on their own time. The company is partnered with some of America’s most trusted insurance companies, like Assurity Life, and provides a variety of unbiased choices for customers.