Samos Insurance

Samos Insurance is a Canadian insurtech company founded in 2021 and headquartered in Kitchener, Ontario. The company was established by a team that includes CEO Eric Blondeel, who previously co-founded Kenota Health, COO Leon Punambolam, an insurance industry veteran, and CTO Matt Eggertson. The idea for Samos originated from Blondeel's personal experience when he faced surgery and realized a gap existed in the market for short-term, procedure-specific insurance.

The firm has developed what it describes as the first surgical accidental death insurance product. This offering is designed to provide a death benefit to a beneficiary if the insured passes away accidentally during a planned surgical procedure. The product targets a niche in the life and health insurance market by covering risks that traditional accidental death policies often exclude. It serves individuals undergoing scheduled surgeries—such as joint replacements, caesarean sections, and heart surgery—who may lack sufficient life insurance or are ineligible for other policies due to pre-existing conditions. The company also provides options for businesses seeking key person insurance for employees undergoing surgery.

Samos operates on a direct-to-consumer, digital-first model. Clients can apply for coverage online, with the process taking only a few minutes for instant approval. Revenue is generated from the sale of these single-event insurance policies, with premiums calculated based on the patient's age and the specific risk of the surgical procedure, not their medical history. This is facilitated by a proprietary machine learning risk model for underwriting. Coverage provides a benefit of up to $150,000 or $200,000, depending on the policy. The policies are backed by established insurers, including Berkley Insurance. Initially launched in Ontario, Samos has plans to expand its services across Canada and into the United States.

The company has secured funding to support its growth, including a $3 million seed round in 2022 led by SiriusPoint, a global specialty insurer and reinsurer. Samos is also an alumnus of the Y Combinator accelerator program, further highlighting its position within the startup ecosystem.

Keywords: surgical risk insurance, accidental death coverage, insurtech, on-demand insurance, elective surgery insurance, digital insurance platform, life and health insurance, surgical complications, patient insurance, Canadian insurtech, medical procedure coverage, caesarean section insurance, joint replacement insurance, heart surgery insurance, proprietary underwriting, single-event insurance, key person insurance, backed by Berkley, Y Combinator alumnus, SiriusPoint investment