Insurtechs lost a combined $2.3B in 2022

Most of the nation's payers have filed their fourth quarter earnings reports, including insurtechs, or startup health plans with a focus on integrating innovative technologies into their operations.

In 2022, the most prominent insurtechs — Bright Health, Oscar Health, and Clover Health — saw combined losses that totaled $2.35 billion. 

Bright Health reported a net loss of $1.4 billion in 2022, compared to a $1.2 billion loss a year prior.

Oscar Health recorded a net loss of $606 million in 2022, compared to a net loss of $572 million in 2021.

Clover Health posted a $339 million net loss in 2022, compared to a $588 million loss in 2021.

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