With the recent address of President Trump and his intention to repeal Obamacare and take off the state limitation, i personally think this is opportune time for startups in health insurance sector. what do you all think ?
There's a lot of competition in the market already. According to Reportsnreports' "Global Insurtech Market 2016-2020", some up-and-coming firms include:
Do you mean more insurance companies? More insurance brokers? More benefits consultants? Please be more specific in your question.
I cannot think of a plethora of startup ideas in this space that are currently not viable due to the limitation of selling insurance products across state lines.
In addition, some states already do allow selling across state lines and no insurer has taken them up on this offer. This is because insurance plans factor in the cost to deliver healthcare in the insureds location.
This quote I read in a Bloomberg article summarizes the idea of health insurance plans getting sold across state lines perfectly:
"When the idea was floated last year at an industry conference, the audience literally laughed."