The startup offers a digital adviser platform that provides tailored life insurance and critical illness coverage, enabling users to assess their personal risk management needs effectively. By integrating data-driven insights, the platform helps users identify and select the most suitable insurance plans for their specific circumstances.
Funding
$5.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals find it challenging to navigate the complexities of insurance products and accurately assess their coverage needs, leading to inadequate protection or unnecessary expenses. The process of selecting appropriate life insurance and critical illness coverage often involves guesswork and a lack of personalized guidance.
Solution
HYKE (formerly Sherpa Score) offers a digital decision support tool that provides personalized guidance for individuals to understand their insurance needs and make informed choices. By combining data, behavioral science, and actuarial algorithms, the platform delivers a comprehensive risk and resilience assessment across various life, non-life, and health-related events. The "Protection Score" visually and numerically depicts an individual's coverage level and identifies gaps, empowering them to take appropriate action. The platform also provides unbiased, custom-tailored recommendations, ranked by importance, and gamification features to motivate engagement and return visits.
Target Audience
The primary target audience includes individual consumers seeking personalized insurance advice, as well as employers, groups, agencies, and bancassurance providers looking to improve customer engagement and lead conversion.
Features
- Comprehensive risk and resilience assessment across 26 risk events
- Personalized action plans with unbiased recommendations
- Gamification features to boost engagement and encourage action
- Data-driven insights based on actuarial algorithms and behavioral science
- Modular and API-driven solutions for integration with existing platforms
- Dashboard providing a snapshot of protection levels and areas of risk
- Continuous adaptation to changes in customer circumstances