(Austin, Texas) Insurtech startup Spot has launched affordable and easy subscription-model injury coverage, providing coverage for out-of-pocket expenses including insurance deductibles. Starting at just $20 a month, the plan covers up to $20,000 in out-of-pocket medical expenses associated with an injury and $50,000 for accidental death and dismemberment. Signing up takes under 90 seconds online, and only requires a birthdate and home address.
Spot CEO Matt Randall, and insurance-industry veteran Maria Miller had a specific vision in mind when creating Spot.
“When Maria and I set out to create Spot, we kept coming back to this idea, ‘What would it look like if Red Bull & GoPro created an insurance company?’ Our goal was to create a company that reimagined the customer experience while at the same time providing insurance coverage that we believe people need most,” said Randall. “No longer do you have to sift through paperwork, or underwriting questions. That's why we're the first company to create an injury insurance subscription that covers thousands of activities from the first time mountain bike ride to climbing Mount Everest. In less than 90 seconds, you can get coverage and go live more than a little without the worry of debilitating medical costs."
Spot is live now and available to the residents of 16 states including Texas, Alabama, Arizona, Arkansas, Florida, Georgia, Illinois, Indiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Wisconsin, and Louisiana. Spot is working to expand to more states by the end of the year, but subscribers are covered no matter where their injuries occur, worldwide.
Founded in 2017, Life by Spot is an ambitious startup entering the insurance industry by opening an entirely new channel of distribution and targeting those living an active and adventurous lifestyle. Spot makes it possible for people to purchase short-term, month-to-month policies, at an approachable price through a simple platform. Led by a team of insurance veterans and experienced tech entrepreneurs, Austin, Texas-based Spot allows policyholders to get out and live more than a little.