Ohio is a hub for insurtech innovation and it starts with the state’s leadership in insurance and financial services. Ohio ranks No. 4 in the U.S. in number of insurance headquarters and No. 3 for bank headquarters. Established insurance leaders and startups alike including Nationwide, Progressive, Bold Penguin, and Root Insurance are at the forefront of insurtech and doing so in Ohio.
In Ohio, you can:
Save capital. The coasts are notorious for their exorbitant cost of living and operating costs, but Ohio is a quarter the cost of coastal locations including San Francisco and New York City.
Take advantage of entrepreneurial support. Venture capital support grew in Ohio from 2017-2019 by 134%. Ohio’s Entrepreneurial Services Providers (ESPs) drive growth and create an entrepreneurial ecosystem, including CincyTech, Rev1 Ventures, JumpStart, TechGROWTHOhio, NextTechOhio, and most recently SixThirty.
Find plentiful talent with a wide-range of skills. Columbus, Cleveland, and Cincinnati are top cities for millennial talent with many nationally recognized universities supplying a pipeline of qualified talent that costs 11.5% less than national average.
Leverage predictive analytics expertise to streamline the underwriting process. Companies currently innovating in technology to automate underwriting are likely going to outperform their more traditional competitors.
"We evaluated multiple markets in the Midwest and East Coast before making the decision to further expand our Columbus-based operations. The Columbus Region offers the high-quality talent pool and collaborative business environment we need to help our company thrive." Kumi Walker chief corporate development and strategy officer Root Insurance
"When we started Beam Technologies, we knew quality talent and community support would be critical to our success. The Columbus region’s impressive technology talent ecosystem has proven to be vital for our expansion and was a core reason behind our decision to scale here." Alex Frommeyer co-founder and CEO Beam Technologies
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