Month: March 2021

Discover the latest insights and insurtech shaping the dynamic world of InsurTech in this captivating article by Susanne Sclafane, featured on Carrier Management. From discussions at the prestigious InsurTech Spring Conference 2021, industry experts delve into the nuances of investment strategies, regulatory landscapes, and the evolving journey of InsurTech unicorns.

Speaking at the InsurTech Spring Conference 2021, co-hosted by InsurTech NY and InsurTech Hartford in early March, Matthew Jones, a principal at Anthemis revealed that his firm will soon announce investments in two “amazing businesses” with differing paths to financial return.

“One company that has moved incredibly fast over the last six months, and one that has moved forward somewhat slower over the last two to three years,” he told David Gritz, co-founder of InsurTech NY and moderator of the panel, “Investing for the InsurTech Unicorns Crop of 2025.” Gritz had asked Jones to identify his firm’s most successful investments from an IRR perspective.

Gain valuable perspectives from venture capital representatives, including Matthew Jones from Anthemis and David Gritz, co-founder of InsurTech NY, as they dissect the key factors driving innovation and growth in the insurance technology sector. Whether you’re a seasoned industry professional or an avid enthusiast, this article offers a comprehensive exploration of the ever-evolving InsurTech ecosystem, including the future of Insurtech Unicorns. Read the full article here.

Discover the 2021 Early Stage Startup Competition winners announced by InsurTech NY in this article by Insurance Edge

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.

For the full article and announcement, click here to view the article on Insurance Edge’s website.

Status of Certain Casualty Actuarial Ratemaking, Reserve Principles in Flux

Jonathan Godfread, North Dakota’s commissioner, told an audience at the InsurTech NY Spring Conference 2021 this week, “The biggest benefit that I see coming is the ability to truly remove some of that inherent human bias,” during a session titled “Regulatory Trends for AI and Algorithm Bias.”

Dive into these Latest Insights on InsurTech Innovations. Discover how InsurTech NY is making waves in the insurance industry in the recent article by Carrier Management. Gain valuable insights into the role of InsurTech NY and other key players in driving innovation and shaping the future of insurance. Explore the article now to stay informed about https://www.insurtechny.com/news/status-of-certain-casualty-actuarial-ratemaking-reserve-principles-in-flux/the latest developments in the InsurTech landscape.

Who’s Using What in P&C Insurance: March 8, 2021

Explore the Latest Trends in Property and Casualty – P&C Insurance Technology with Property Casualty 360.

Discover the cutting-edge advancements shaping the future of property and casualty insurance in our latest article.

Dive deeper into the insights provided by Property Casualty 360, where they discuss the utilization of various technologies in the property & casualty insurance sector. Learn about the latest trends, challenges, and opportunities that insurers are facing in adopting new technologies to enhance their operations and customer experiences.

Find out how InsurTech NY is contributing to the future of the industry by fostering innovation and collaboration among insurers, startups, and technology providers. Explore how InsurTech NY’s initiatives, such as our news updates, events, and about page, are driving positive change and shaping the landscape of P&C insurance technology.

To read the full article and stay updated on the latest developments in insurance technology, click here.

Deadline Approaches for New York-Bermuda InsurTech Early Stage Competition

The deadline for the 2021 InsurTech Early-Stage Competition is fast approaching on January 29, 2021.

This prestigious event, a collaboration between global insurtech hub InsurTech NY and Bermuda Business Development Agency (BDA), offers a unique platform for up to 100 startups worldwide to showcase their innovations to industry leaders and investors. Eligible companies, particularly those generating less than $250,000 in annual revenue in 2020, stand to gain invaluable exposure and support. With the chance to win a four-night stay in Bermuda, along with access to professional advisors and regulatory assistance, this competition presents a golden opportunity for aspiring insurtechs.

Read more about this exciting initiative on Insurance Journal to learn how it could propel your startup to success in the dynamic insurance market.

Unlocking Opportunities in InsurTech: Join the 2021 Early-Stage Competition by InsurTech NY and the Bermuda Business Development Agency.

Discover the gateway to global InsurTech innovation as InsurTech NY, a leading global hub, partners with the Bermuda Business Development Agency (BDA) for the 2021 InsurTech Early-Stage Competition. With up to 100 promising startups competing for recognition and investment, this event offers a unique platform for showcasing groundbreaking ideas to industry leaders and investors.

The BDA’s participation enriches the prize pool, offering winners an exclusive four-night stay in Bermuda, access to regulatory support, and connections to professional advisors. Susan Pateras, an industry veteran, joins a distinguished panel of judges, including representatives from renowned venture capitalists, insurance carriers, and investment firms.

Embrace the chance to accelerate your InsurTech journey and tap into Bermuda’s renowned insurance and reinsurance market, valued at over $100 billion. Apply now and seize the opportunity to shape the future of insurance innovation. Read the full press release on PR Newswire for details on eligibility, submission deadlines, and more. Don’t miss your chance to be part of the next wave of InsurTech disruption.

Discover the Evolution of InsurTech in the United States: A Blossoming Relationship Fueled by COVID, with this article by The Fintech Times. Explore the transformative journey of InsurTech within the American landscape amidst the challenges of the COVID-19 pandemic. From the emergence of unicorn startups to the surge in telemedicine adoption, delve into the dynamic shifts reshaping the insurance industry. David Gritz of InsurTech NY is featured discussing the InsurTech NY startup Accelerator and the current state of American health insurance.

After a year of economic turmoil, the US emerged from 2020 with its insurtech crown intact. American companies accounted for 39 places in FinTech Global’s InsurTech 100 (2020) – almost double that of its closest competitor. Of the insurtech megarounds completed by the third quarter, 75% took place in the US, with insurtechs flourishing in startup strongholds like Silicon Valley and New York, and across the Midwest and South.

During Covid, many insurtechs have not just survived – they have thrived. Lemonade became the first US insurtech to go public last July, and was followed by a wave of insurtechs. At least 15% of tech IPOs in 2020 belonged to insurtechs, in the opinion of JP Morgan’s Tushar Virmani. Duck Creek raised $405 million when it went public in August, and Ohio’s Root gained nearly three-quarters of a billion when it debuted on Nasdaq. Clover Health announced a forthcoming IPO the same month (it took place two weeks ago) as did Metromile in November, and Oscar Health in December.

Read the full article here now, courtesy of The Fintech Times, to witness the extraordinary resilience and ingenuity of the InsurTech ecosystem in the face of adversity.

A 2021 article by Nicquana Howard-Walls of Digital Insurance covers several InsurTech groups taking ownership in the time of covid 19, with virtual programs. InsurTech NY’s accelerator and annual spring conference stand as an example for the Insurtech community.

Insurtech groups get on virtual track with 2021 programs

For the full article, check out Digital Insurance’s website here.

We’re thrilled to announce that Honcho, the Durham-based fintech disruptor, has been handpicked by Insurtech NY, the leading insurtech community in the New York area, to participate in their prestigious 2020 accelerator program. Honcho’s groundbreaking entry into the car insurance market, followed by the recent launch of their van insurance product, has caught the attention of industry leaders worldwide.

Selected as one of just two UK representatives in the Insurtech NY 2020 cohort, Honcho’s inclusion underscores the global recognition of their innovative reverse-auction marketplace model. CEO Gavin Sewell expressed his excitement, stating, “We’re incredibly excited to have won a place on the Insurtech NY Growth Accelerator…serves to reflect the global potential of the Honcho platform.”

For the full article on Insurance Edge’s website, click here.

FNO Podcast Episode 94

Embark on an illuminating journey into the world of insurance innovation with this podcast episode featuring the Co-Founders & Managing Directors of InsurTech NY, David Gritz & Tony Lew.

In this engaging discussion, recorded in early July 2020, David, Tony, and Lee explore the founding principles of InsurTech NY, shed light on the adaptive strategies employed by startups, investors, and VCs during the pandemic, unveil insights into InsurTech NY’s accelerator program, and share valuable advice for startups navigating the dynamic InsurTech landscape.

Don’t miss out on this insightful conversation! Click the link below to listen to the full FNO Podcast episode now:

Listen to the Full Episode

Nationwide, Swiss Re Among Carriers Participating in Upcoming NYC InsurTech Accelerator Program

Carriermanagement.com publishes InsurTechNY‘s latest Accelerator Program.

An accelerator for growth-stage InsurTech startups is launching in New York City this fall. Several carriers and brokers will be participating, including Nationwide, Swiss Re and more.

InsurTech NY Accelerator, sponsored by InsurTech NY, is scheduled to begin operations in October. Before then, the accelerator will start taking applications from growth-stage startups that have revenue and customers in late July.

InsurTech NY bills itself as the largest InsurTech community in the New York metro area.

For the full article, check out Carriermanagement.com’s website here.