Bellevue insurance startup that uses artificial intelligence sold for $2.3 billion

A Bellevue-based insurance startup that uses artificial intelligence to sell personalized insurance options has been sold for $2.35 billion to industry giant Prudential Financial. Assurance IQ, an online insurance-tech company that started in 2016, meets its customers through an online portal instead of through a financial adviser. It sells life insurance, auto insurance, health insurance and Medicare options online from over 20 providers. The company says it has sold at least one insurance product to 300,000 customers and the site has had more than 18 million visitors." To the 144-year-old insurance titan, the 3-year-old startup's value lies in its online-first platform, efficient data collection and artificial intelligence to find personalized insurance at a much faster rate, executives said.