Problem

Samos Insurance addresses a narrow but important gap in life and accidental-death coverage: conventional AD&D policies typically exclude death resulting from medical treatment or surgery, while term-life insurance can involve medical exams, ongoing premiums, and timing constraints. Someone facing a scheduled procedure may therefore have little practical ability to buy temporary protection for their dependents, even though the financial consequences of death can be severe. The clearest use case is a patient preparing for an elective procedure such as a caesarean section, joint replacement, or heart surgery.

The product is designed as relatively inexpensive, brief-interval protection rather than a replacement for life insurance. Samos reported typical pricing of roughly $90–$150 for up to $100,000 of coverage, with the premium reflecting the procedure, the applicant’s age, and the desired benefit amount. The economic value is peace of mind and a death benefit for loved ones at precisely the point when traditional policies may be unavailable or exclude the relevant risk.

Product / Service

Samos sells Surgical Risk Insurance, an on-demand policy purchased online for a specific scheduled surgery. Its proprietary, data-driven underwriting model evaluates surgical risk and can automatically underwrite and adjudicate most elective procedures. Customers obtain a quote, choose a coverage amount, answer a small number of questions, verify their account without a medical exam or phone call, then sign and pay digitally; Samos says most applicants receive an approval decision immediately.

The policy covers accidental death during an eligible procedure and pays the beneficiary, with the company’s current materials describing coverage from $50,000 to $200,000 and most premiums below $100. Samos says it covers more than 85% of elective procedures, does not require monthly payments, and is available through direct consumer purchase as well as brokers and employer benefit plans. The benefit is financial protection for dependents, allowing the patient to focus on preparation and recovery rather than the consequences of an unlikely but catastrophic outcome.

Market

Samos competes in life and health insurance as an insurtech focused on niche, on-demand accidental-death protection. Its closest documented alternatives are term life and AD&D insurance: Samos positions Surgical Risk Insurance as complementary to them, particularly for people who cannot obtain conventional coverage because of pre-existing conditions or a short timeline before surgery. Health insurance is adjacent but generally covers treatment costs rather than providing a death benefit, leaving Samos focused on a specific coverage gap rather than the broader health-insurance market.

The product launched in Ontario in March 2022 with Berkley Insurance backing, and the company said it planned to expand across Canada and later into the United States. Samos subsequently announced a US$3 million seed round led by SiriusPoint; public evidence also shows YC Winter 2022 participation, an active YC listing with a six-person team, and company-reported 2023 and 2024 awards. A 2022 survey found that three in five Canadians were very interested in buying surgical insurance and that three in five were interested at Samos’s reported $90–$150 price point. The company is visibly operating and selling quotes, but public sources reviewed do not disclose revenue, customer counts, or policies sold, so it is more accurate to describe traction as early commercial validation and funding rather than label it definitively pre-revenue.