Several years ago, Indigo CEO Jared Kaplan looked at the medical malpractice insurance space and saw an industry in need of transformation. With years of experience in financial services and insurtech, Kaplan recognized an opportunity to disrupt medical malpractice insurance using artificial intelligence and advanced data analytics, according to a recent interview in Medical Liability Monitor.
As the co-founder and CEO of Indigo, Kaplan and his team, a perfect blend of experienced functional experts in the medical malpractice space supported by an innovative, highly skilled insurtech and data science team, set out to modernize an outdated system filled with complex paperwork, rigid pricing, and slow underwriting.
Medical malpractice insurance is a specialized form of professional liability insurance designed to protect healthcare providers against claims of medical negligence and malpractice. This type of insurance is crucial for healthcare professionals, as it offers financial protection in the event of a lawsuit or claim of negligence.
Medical malpractice insurance covers the costs associated with defending against a lawsuit, including attorney fees, court costs, and any settlement or judgment amounts. By having this insurance, healthcare providers can focus on delivering quality care to their patients without the constant worry of potential legal repercussions.
Since launching in October 2023, Indigo has made steady improvements. Kaplan thinks the company could be the most interesting tech player in the field. In just over a year, Indigo grew from seven states to 48. They processed more than 4,000 submissions in 2024 and insured hundreds of doctors.
This rapid expansion proves Indigo’s success in redefining how physicians get coverage while lowering medical malpractice insurance costs. “We are light-years ahead of where we were at launch,” Kaplan told Medical Liability Monitor in a recent interview.
Historically, organizations such as state medical societies offered malpractice insurance as an incentive for membership, a practice that Indigo continues by partnering with the AMA Insurance Agency.
One of Indigo’s early successes was forming a key partnership with the AMA Insurance Agency, part of the American Medical Association. This partnership allows Indigo to provide medical malpractice insurance to AMA physician members. This boosts Indigo’s credibility and reach.
Indigo sets itself apart from traditional medical malpractice insurance companies with its AI-driven risk assessment model. Indigo uses alternative data points, like a doctor’s National Provider Identifier. This helps remove long applications and improve pricing accuracy. It also sets a premium based more on a doctor’s individual practice than on their peers.
Claims-made policies often require tail coverage when the policy is canceled to protect against claims arising from incidents that occurred while the policy was active.
“We’ve adjusted our underwriting algorithm 10 to 12 times over the past year,” Kaplan noted to MLM. “Our goal is to quote 50% of submissions and save doctors 10% or more on their premiums.”
Alternatively, nose coverage allows healthcare providers to transfer their retroactive date to a new insurance carrier, ensuring protection for past incidents under the new policy.
This AI-driven, personalized approach is helping the company achieve Kaplan’s vision. He wants it to be the best medical malpractice insurance for doctors.
Understanding the retroactive date is crucial for ensuring adequate protection against prior incidents.
Indigo’s policies are underwritten by an insurer with an AM Best A- (Excellent) rating, reinforcing its financial reliability and coverage options. AM Best, a financial credit rating agency specializing in insurance companies, rates an insurance carrier’s financial strength. This strength means doctors can trust Indigo to help them when needed. This gives them peace of mind as they care for patients.
Indigo is a new company in medical malpractice. In 2024, it wrote $4.5 million in premiums. It has strong underwriting results and very few claims. This shows that its AI model and data-driven strategy are working well.
The medical malpractice insurance industry usually has a combined ratio of 103% to 105%. Kaplan thinks Indigo’s technology gives it an advantage. “It’s too early to declare victory, but we are absolutely on the right track,” he said.
Indigo operates with efficiency, which sets it apart from traditional insurers. The company has processed thousands of applications with a small team of expert underwriters who are also AI professionals, proving that technology can lower operational costs.
“We did 4,000 submissions last year with just two people,” Kaplan told MLM. This lean model allows Indigo to focus on improving the customer experience and optimizing underwriting.
Selecting the right insurance company is a critical decision for healthcare providers. Several factors should be considered, including the company’s financial stability, claims handling process, and customer service quality. Researching the company’s reputation, ratings, and reviews from other healthcare providers can provide valuable insights.
Additionally, comparing the costs and coverage options of different insurance companies is essential to find the best fit for your individual needs. A reliable insurance company not only offers robust coverage but also provides support and guidance throughout the claims process, ensuring healthcare providers can focus on their practice with peace of mind.
Indigo provides coverage for a wide range of medical specialties, ensuring physicians receive protection tailored to their specific field. Indigo offers many types of medical malpractice insurance. They customize these policies for different medical and surgical specialties. This helps address the unique risks of each practice area.
Indigo’s customized policies ensure that individual physicians receive coverage tailored to their specific needs and practice areas.
Indigo helps doctors by removing unnecessary complexity and red tape. We always aim to provide top-notch service and claims processing. This helps our doctors feel confident about their coverage. They can trust that they are in good hands, especially when filing a claim.
Indigo not only provides competitive coverage but also focuses on risk management. They offer a 24/7 helpline for healthcare providers. This helpline provides assistance when problems arise in the practice and offers guidance on what to do next.
Indigo offers comprehensive risk management solutions to help healthcare providers manage potential risks associated with malpractice.
Although many similar insurers provide employees to deliver similar services, Indigo provides confidential advice from third party clinical risk experts, ensuring confidentiality for the healthcare provider to help prevent lawsuits, allegations, and liability claims.
This adds extra protection for doctors. It helps them handle tough situations with patients. It also helps them understand relevant federal and state laws.
Indigo makes claims reporting simple, offering multiple options for physicians to submit claims via phone, email, or fax. With a team of experts helping them, doctors can resolve claims quickly and easily. This shows Indigo’s commitment to providing great service at every step.
Indigo focuses on making medical malpractice insurance coverage accessible and affordable. Many physicians struggle with rising insurance costs, and Indigo’s technology keeps premiums competitive. By streamlining the underwriting process and leveraging AI-driven pricing, the company reduces unnecessary expenses and passes those savings on to its policyholders. By leveraging AI-driven pricing, Indigo is able to offer lower premiums compared to traditional insurance companies.
Indigo also provides flexible payment options and customizable coverage plans. This helps healthcare providers get the protection they need without financial stress.
Indigo goes beyond providing insurance—it also equips physicians with educational resources to navigate the complexities of medical malpractice insurance. Indigo ensures that physicians are aware of specific policy details, such as retroactive dates and consent-to-settle clauses, to help them navigate their insurance coverage effectively. The company offers online guides and information to help doctors understand their policies and mitigate potential risks. This commitment to education empowers healthcare professionals to make informed decisions about their coverage.
Indigo plans to launch new policy management tools for brokers and doctors. The goal is to create a smooth, efficient digital experience like top e-commerce sites. Kaplan envisions, “By the end of the year, we will have a first-class broker portal that makes managing policies as seamless as shopping on Apple’s website,” he told MLM.
Indigo wants to be a top 10 carrier for doctors in five years. They also aim to be a big player in medical malpractice insurance in ten years.
The company is flexible and dedicated to innovation. This helps it succeed in the long run. It aims to be one of the top medical malpractice insurance companies in the United States.
Beyond the AI, the technical excellence in underwriting and a competitive policy form, Indigo also prioritizes an unwavering commitment to customer service, recognizing that ongoing positive momentum in a highly competitive space, must be built on “making a difference” for the physician and the broker.
The company and its representatives provide support to doctors, their practices, and their brokers. They help with choosing policies, creating custom solutions, handling claims, and managing risks. This ensures a smooth experience for everyone involved.
Indigo dedicates itself to providing the best customer experience. This commitment will help it stand out in the competitive medical malpractice insurance market.
Indigo is reshaping the medical malpractice insurance industry. The company uses advanced technology and builds strong partnerships. It also focuses on customer satisfaction. This approach helps it become a top provider.
Indigo’s advanced technology helps predict future losses, allowing for more accurate rate determination and better financial planning for healthcare providers.
Indigo is always finding new ways to help. It plans to offer more tools and resources for doctors. These will help them manage medical malpractice insurance, claims, and risk management.
The company wants to update the industry. It aims to provide doctors with the best insurance coverage and services. This will set new standards for efficiency, affordability, and reliability.
Indigo is a new type of professional liability coverage platform that uses innovative technology to streamline the traditional malpractice insurance process. Now, doctors and medical groups can get personalized pricing. This pricing shows their real risk for a medical malpractice lawsuit, even with their claims history. Indigo uses advanced data analytics to determine the most accurate insurance rates based on a variety of factors, including specialty and location. We also provide different types of malpractice insurance options, giving you flexibility.
If you face a medical malpractice claim, Indigo’s skilled claim team works with top local defense attorneys. They are the best in the field. This allows you to keep focusing on what you do best — caring for your patients.
We will protect your practice and personal assets. Our coverage even includes defense costs, attorney fees, and other legal fees.
Time for a better medical malpractice insurance experience has arrived. We offer a customized solution that ensures high customer satisfaction and support tools you deserve.
Request your quote today.
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