Tokio Marine Kiln (TMK), a prominent international insurer, has released a report spotlighting the critical challenges faced by FemHealth startups. These women’s health-focused businesses are part of a rapidly expanding sector projected to grow from $28 billion to $103 billion by 2030. Despite this promising trajectory, over 76% of founders report difficulties securing essential insurance, slowing the pace of innovation.
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The insurance roadblock
The report, based on interviews with 47 FemHealth founders, identifies several barriers to obtaining insurance. High costs (56%) and complex processes (51%) are the most common challenges. Limited understanding of the sector's unique risks by brokers (42%) and underwriters (39%) further complicates matters. Additionally, many founders (39%) cite a lack of appetite from underwriters to take on these risks, compounded by restrictive policy exclusions (34%).
Without adequate insurance, FemHealth startups cannot secure funding, conduct clinical trials, or market their innovations. This significantly impacts businesses addressing critical areas such as menstruation, fertility, menopause, autoimmune diseases, and heart attacks—conditions often disproportionately affecting women.
Simplifying insurance for innovation
TMK is addressing these challenges with its bespoke Life Sciences insurance product, IntelliMed. Designed by experts, IntelliMed combines Life Sciences liability, Cyber, and IP coverage under one policy. This streamlined approach reduces complexity and minimizes coverage gaps, enabling FemHealth businesses to thrive.
Kirsten Shastri, TMK’s Head of Life Sciences, emphasized: “FemHealth is a dynamic, fast-growing sector that demands tailored support. TMK is committed to fostering innovation by addressing these challenges and ensuring founders can bring transformative solutions to market.”
By raising awareness and enhancing accessibility, TMK aims to empower FemHealth founders, paving the way for progress in women’s health innovation and beyond.
Download the report on Tokio Marine Kiln's website
