NEW YORK, March 12, 2021 — InsurTech NY, announced the winners of its 2021 Early-Stage InsurTech Competition at the InsurTech Spring Conference. Winners were selected by judging panels grouped by their background – angel investors, venture capitalists, carrier and brokers, and the Bermuda BDA. The winners received prizes worth $200K in total.
Carrier/Broker Prize: Tide Foundation
VC Investor Prize: Loadsure
Angel Investor Prize: Delos Insurance
Bermuda BDA Prize: RemitRix
Over 120 eligible startups applied to the competition. Startups were eligible if they had less than $250,000 in annual revenue. The judges selected winners who showed the most commercial potential. The selection process employed 26 judges including Avanta Ventures, Greenlight Re, Nationwide Ventures, Transverse Insurance, Gallagher, MGV, SixThirty, Park City Angels, and Anthemis.
“We are proud to highlight the 2021 global winners,” said David Gritz, Managing Director of InsurTech NY. “Helping high-potential early-stage startups ‘get discovered’ is necessary to foster a dynamic and sustainable InsurTech ecosystem.”
“Programs like this provide a crucial platform for emerging technologies,” said Michael Loewy, co-founder of Tide Foundation. “We plan to use this exposure to strengthen our position in the insurance vertical and expand our technology to reduce global cyber liability.”
“We are excited and honored to be selected as the angel investor prize winner,” said Kevin Stein, CEO of Delos Insurance. “New MGAs in markets like ours benefit from broad exposure because we can help provide new products for reinsurers, insurers, and brokers, and change the lives of policyholders that were non-renewed because of misclassification in wildfire zones.”
The four winners were selected from the top 13 finalists that presented at the InsurTech Spring Conference on March 10, 2021. The other nine original finalists included: Claimspace, Coastal Risk, Coverhero, Digisure, Dockflow, Finaeo, HealthyHealth, Safekeep, Startsure.
Analogies abound about animal spirits being the underlying driving force for market competition. Whether your sales team talks about “crushing the competition” or your investment team debates how long the “bull market” will last, we are driven to compete.
However, not all competition has to be zero-sum. Competition in sport has winners and losers, but all participants improve their health and wellness as a result of training.
That’s why we built our annual InsurTech competition. Although we have winners who were carefully selected by judges, our hope is the entire ecosystem of participants will have sharpened their business model and company prospects as a result of applying.
Notwithstanding, every competition does have winners. Over 120 applications were carefully deliberated on by more than 24 judges. Now, we are excited to announce the finalists in our global competition and Bermuda BDA selected sub-group.
Global Competition Finalists: Delos, Finaeo, Tide Foundation, Dockflow, Coverhero, Digisure, Claimspace, Loadsure, HealthyHealth, Startsure
Bermuda BDA Finalists: Coastal Risk, RemitRix, Safekeep
Today is the final day to purchase tickets at the general admission price. So act quickly.
Read about all the sessions here: https://insurtechmarch2021.eventbrite.com/?aff=News33
Here are 4 highlights:
1. Thought leadership on hot topics: catering to the millennial consumer, the digital user experience, insurance role in climate change, digital transformation in the cloud, and talent diversity and inclusion.
2. Presentations by InsurTech competition finalists: hear presentations from our finalists
3. Entertaining sessions: (i) Interactive Play on He Said, She Said: startup and carrier perspectives of working together and (ii) Watch and play along with a game show
4. Great networking tools: (i) Remo: wander the expo halls, check out new products, and network just like in-person and (ii) Grip: get connected via AI matching and have scheduled meetings
InsurTech Spring 2021 Conference: Catering to the Customer of 2025
Mar 10 – 11 | 2 Full Days | Educational Content, Virtual Expo, and Networking | Virtual
– 75+ speakers, 20+ startup pitches, and a global startup competition
– Featuring: Clover Health CEO, CT Deputy Commissioner, SVP Underwriting SwissRe
Thank you to our sponsors for supporting the community
Discover a curated mix of February and Early March insurance financings, exits, partnerships, opportunities, and partner events in the New York area.
Koffie Labs ($4.5M Anthemis) Commercial P&C Lines: Purpose-built for the next generation of trucking and transportation.
Earnix ($75M Insight Partners) Multiline: Analytical enterprise rating, pricing, and product platform.
Pawlicy Advisor ($6.5M Rho Capital Partners): Pet Lines: Pet insurance marketplace.
Marble ($2.5M IA Capital): Personal P&C Lines: digital wallet and loyalty platform for insurance.
The Future of Insurance USA 2021 (Reuters Events): Registration is now available for the June 22 program, here.
Venture Summit Virtual Connect West (Young Startup): Registration is available here.
InsurTech NY is hiring an associate to join our dynamic team. Be at the center of insurance innovation at the nexus of high growth startups, leading edge insurers, and venture investors. If you are interested or know someone who would be a good fit please email Ira Ziff at firstname.lastname@example.org. Find the full job description on Linkedin.
David and Tony
InsurTech NY Team