Future Family, a trailblazer in fertility financing, is addressing one of the most significant barriers to IVF—its high cost—through the introduction of its groundbreaking insurance product, Orange Shield. Founded by Claire Tomkins, Future Family aims to make fertility treatment more affordable and accessible by providing families with a financial safety net. The unique Orange Shield product promises to refund the cost of IVF if it fails after two cycles, offering couples a sense of security as they navigate the often emotional and financially taxing IVF process.
Breaking the Financial Barriers to IVF
The U.S. fertility market is expected to reach $5.97 billion by 2025, driven by increasing infertility rates and advancements in reproductive technology. However, despite this growth, the high cost of treatment remains a significant hurdle. IVF, one of the most expensive medical procedures, often requires multiple cycles, and success is never guaranteed, leaving many families unable to afford the pursuit of parenthood.
Claire Tomkins, who has three children born through IVF, knows these challenges intimately. “The financial strain and emotional rollercoaster that come with IVF are real, and our mission is to offer a solution that provides peace of mind for couples,” said Tomkins, who founded Future Family in 2017 to tackle these very issues.
With a strong background in consumer finance and economics—holding both a PhD and a master’s degree in applied economics from Stanford—Tomkins was well-equipped to innovate within the fertility space. Under her leadership, Future Family has grown into the largest platform for fertility financing and coaching in the U.S., offering over $200 million in credit to more than 10,000 families.
A Groundbreaking Insurance Solution
The launch of Orange Shield marks a major milestone in Future Family’s evolution and its entry into the insurance market. IVF success often requires multiple cycles, and many women find themselves unable to continue due to the financial burden. Orange Shield, developed in collaboration with industry partners like Munich Re Ventures, Milliman, and BMS, addresses this issue by offering insurance coverage for IVF. If the treatment is unsuccessful after two cycles, the insurance product will refund the cost of the procedure, significantly reducing the financial risk for families.
While other fertility-focused companies such as Progyny, Kindbody, and Carrot Fertility work primarily with employers, Future Family’s direct-to-consumer approach with Orange Shield provides a unique solution for individuals and families. This innovative insurance product aims to make IVF more accessible to a wider range of people by alleviating the financial pressures that often prevent families from pursuing treatment.
Overcoming Challenges and Adapting to Change
Tomkins’ journey to launch Orange Shield hasn’t been without its challenges. The COVID-19 pandemic posed significant obstacles, as fertility clinics temporarily closed their doors, halting treatments and impacting Future Family’s revenue. During this time, Tomkins quickly adapted, shifting her marketing team to customer service to address the influx of inquiries from clients facing financial uncertainty. She also introduced interest-only loan products to help clients manage during the crisis, and successfully raised nearly $10 million in capital to ensure the company’s survival.
Just as the pandemic’s effects were beginning to ease, Future Family faced a second challenge: the downturn in the venture capital market. In mid-2022, investment activity dropped dramatically, putting pressure on startups to demonstrate profitability. Tomkins responded by focusing on operational efficiency, securing $13 million in funding from existing investors, and steering the company through the tough market conditions.
A Strong Future Ahead
Despite these challenges, Tomkins’ leadership has ensured Future Family’s continued growth and success. The introduction of Orange Shield is just one example of the company’s dedication to transforming the fertility landscape. With the support of its investors, including Munich Re Ventures, Future Family is poised to reshape the way IVF is financed and bring more families the peace of mind they need as they embark on their journeys to parenthood.
“By combining my experience in finance with my personal IVF journey, we’ve been able to create a solution that truly meets the needs of families,” said Tomkins. “With Orange Shield, we’re not just changing how IVF is treated—we’re changing the way people approach fertility, making it more accessible and affordable for everyone.”
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