- Insurance Newslink drops in for a Guidewire update
- LMA says 80% of Lloyd’s managing agents would “like to see Insurance Linked Securities (ILS) products become a permanent fixture in the re/insurance market”
- PPL exceeds first quarter adoption targets
- esure Board reaches agreement with Bain Capital over all cash offer-interim profit impacted by adverse weather but growth continues
- Admiral produces strong interim result and growth all round
- CII and FCA launching series of nationwide professional focus CPD conferences for members working in the insurance profession
- Insurance Europe publishes response to the European Commission’s consultation on its proposed InvestEU programme expired
- Tremor Technologies announces that its programmatic risk placement marketplace is fully operational with significant buyers and sellers of re/insurance protection in place expired
- Continental General(CGIC) to acquire Humana’s long-term care insurance business, KMG America Corporation expired
- Talanx Chairman Leue "very satisfied" at half way expired
- SOBC DARAG forms joint venture in US-first acquisition announced expired
- Starstone announces a new casualty consortium targeted at the Australian and New Zealand markets expired
20th May 2018
Startupbootcamp Converge Demo Day presentations impress the audience
Startupbootcamp InsurTech on Thursday celebrated the end of its third annual program in front of an audience of 500+ insurance industry experts, investors and entrepreneurs, hosted at 8 Northumberland Avenue in Central London.
The 10 startups that took to the stage showcased technologies applicable to the insurance industry, with propositions ranging cyber security, digital health, risk prediction and prevention, customer engagement, the sharing economy, and beyond.
During the program, the startups have created impact, establishing pilots and partnerships with leading names in insurance, including Startupbootcamp's program partners, as well as companies relevant to their industries:
-CyStellar, a cloud-based big-data analytics platform that improves data driven decision making, is developing several pilots with a major global reinsurer; and has secured key agreements with satellite data providers;
-Deemly, a reputation and social verification software platform, has increased its user base by 29%, and has signed partnership agreements with two InsurTech businesses focused on the sharing economy;
-Flowenum, an incident prediction and prevention platform for commercial real estate owners and insurers, is working with a leading multi-line insurer to implement a predictive maintenance model for a UK-based clients;
-ForestCar, a sharing economy platform that offers car owners free airport parking in exchange for renting out their vehicles while they’re away, has partnered with leading telematics company Trak Global to reduce risk; and has agreed a pilot with one of the biggest national parking operators in the UK to launch ForestCar later in 2018;
-PicUP, an AI-based visualisation, optimisation and personalisation platform for phone calls, is in advanced talks with 11 leading European banks and insurers; is in discussions about integration with one of the world’s largest tech companies; and is finalising pilot discussions with a leading pan-African insurer and a major direct European insurer;
-Polywizz, an AI powered platform that analyzes a client’s entire insurance portfolio to provide potential cross-sell opportunities, is working with AIG in Israel to integrate the platform across a number of business units;
-vDexi, a Vehicle Data Exchange platform designed to enable vehicle manufacturers to provide standardized connected vehicle data to a diverse range of data consumers, is in advanced discussions with a large US insurer and their tech provider to give access to OEMs, and is now supported by the European Automobile Manufacturers Association;
-vHealth Lab, an AI-powered platform that supports cardiovascular patients to better manage their health, is engaged in pilot discussions with a leading life insurer; has partnered with ITH telemedicine centre in Spain to provide AI services and access ECG data; and has joined the Microsoft Partner Network, to develop cloud-based AI solutions;
-Zasti, an AI-technology platform that helps insurance companies and their clients predict risks, is working with four insurers in commercial property and aviation insurance; is expanding into marine insurance; and has joined the Microsoft Partner Network, to develop edge-based AI solutions;
-Zeguro, cyber insurance provider and virtual cybersecurity officer for small to mid-sized enterprises, has signed a partnership with Hartford Steam Boiler part of Munich Re, to underwrite, and offer comprehensive and customized cyber insurance, across all 50 US states.
Tshidi Hagan, Program director, comments “It’s been fantastic to witness the growth of the startups over the last few months, and see the progress that they have made. As InsurTech matures, there is a growing demand to engage startups more meaningfully and we have witnessed this first hand during the program, welcoming partners, investors and mentors from around the world.”
Over the last three years, Startupbootcamp has accelerated more than 50 startups relevant to InsurTech, who have achieved 300+ pilots and partnerships, and raised a total funding of more than E48m.
Sabine VanderLinden, ceo of Startupbootcamp InsurTech, added “This year, we have seen great talent join us from around the world, and the startups on stage in London should be immensely pleased with their achievements so far. We look forward to continuing to work with them closely after the program.
We are extremely proud of the impact our startups have made and the success stories we hear every day from the startups that have been through our program, since we launched in 2015. After three years of engagement through the InsurTech accelerator program, our partners have matured. This is the reason why we are launching our Colab program for InsurTech.”
Colab is an innovation program designed for fast-evolving markets. It provides established industry players early access to relevant growth stage companies. Through a theme-based approach, the co-creation lab equips corporates in markets, like London and New York, with the capability and experience to create engagement and solve real business problems. Colab runs in waves throughout the year with each cycle targeting a different industry theme. This allows the partners and growth companies to tackle specific industry problems of most importance to them-more details will be announced shortly.
Insurance Newslink was at the Demo Day. We were impressed by the range and quality of the presentations-short and to the point with no wasted words-quite an achievement bearing in mind the youngish age range of the presenters and the spread of nationalities. The pitches were received with enthusiasm by the whole audience, but the most important factor was that the presentations were of clear strategic relevance to the insurance professionals attending.
Launched in 2015, Startupbootcamp InsurTech is the leading insurance accelerator that focuses on identifying globally-located disruptive and collaborative insurance and technology innovations, and the only program of its kind to attract a wide variety of industry support from multiple international players. Based in London, the program is supported by: The Admiral Group, Allianz, Confused.com, DAS, ERGO, HDI, Intesa Sanpaolo, Lloyds Banking Group, L’olivier, LV=, Metropolitan, MJ Hudson, MMI Holdings’ Exponential Ventures, Momentum, Munich Re, Old Mutual, PwC, Route66 Ventures, Scottish Widows, Swiss Re, Talanx, Tryg, UnipolSai, XL Catlin, and Zurich.
Startupbootcamp InsurTech is part of Startupbootcamp, the award-winning global network of industry-focused accelerator programs, and home of Hartford InsurTech Hub. With 20+ programs in Europe, Asia, North & South America, MENA & Africa, selected startups gain access to the most relevant mentors, partners and investors in their industry.
The INSURTECH Book: The Insurance Technology Handbook for Investors, Entrepreneurs and FinTech Visionaries, is a ground-breaking guide to the disruptions, innovations and opportunities that technology affords the insurance sector. Co-authored by Startupbootcamp InsurTech ceo Sabine VanderLinden, a copy can be pre-ordered your copy from Amazon. The INSURTECH Book has already been listed on Amazon’s Bestseller List.
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