The Startup Building a Compelling Story to Older Overweight Smokers

Meet Mira Financial :

The life insurance startup launched in 2017 by Walter Woodall and Shuo Zhang is an agency targeting high-risk groups. Users looking to pre-qualify for coverage using Mira’s website are asked to complete a short pre-qualification form that includes questions on one’s diabetic history to later receive a confirmation message stating that the startup will reach back within a day with a personalized price estimate.

Two things to note. One. Mira is a licensed independent insurance agency that sells policies from the nation’s top rated insurance companies. It can get one covered in a matter of days. Two. Mira doesn’t offer cheaper rates. It can’t (insurance prices are regulated, which means an insurance company offering the same policy to people of the same risk class must charge the same price). However, Mira claims to offer better prices by offering different products from multiple insurers.

Bottom Line: several insurance startups aren’t offering a new product or service but are simply better storytellers with a ‘type’ of audience in mind.