InsurTech NY News: Top InsurTechs Rankings and Demo Day

In this issue of the InsurTech NY Newsletter (Top InsurTechs Rankings and Demo Day):

• Read about some of the Top InsurTech companies and how to find the right partner among them
• See upcoming InsurTech Community Events and Programs
• Follow the latest InsurTech East Coast Deals
• See open roles in the industry

Subscribe to receive the InsurTech NY Newsletter monthly

Top InsurTechs Rankings and Demo Day

This week marked the release of two major Top 100 InsurTech companies Lists:

The Sonr InsurTech 100 and FinTech Global 100.

It’s incredible that two sophisticated and thoughtful groups can produce completely different results. In fact, based on our calculations, only five overlapping companies appear on both lists.

If you are a carrier or broker looking for solutions, these lists can be helpful, but they add to the noise of InsurTech. The question remains, which ones are the right partners for me?

On November 15th, we will explore that very question for underwriters. Join us as we discuss how to decipher the signal from the noise and identify new alternative data sources for better underwriting.

Learn more: https://uwdata.eventbrite.com

Spotlight: Accelerator + MGA Lab Demo Day

On November 15, we will be hosting our Demo Day in NYC where 40 startups will present.

Presenting startups will be from two programs: (1) InsurTech NY Growth-stage Accelerator and (2) The Digital MGA Lab. The accelerator startups were hand selected by our carrier and broker members based on their ability to address challenges or pursue opportunities for their business units. The MGA lab startups were chosen based on their uniqueness and market potential.

A limited number of spots are open for investors and capacity providers to watch.

Request a spot: https://uwdata.eventbrite.com

Upcoming InsurTech Community Events and Programs

Underwriting Data: What Matters?
Nov 15 | 4:30pm – 8:00pm | NYC
– Speakers include executives from: Hippo, Argo, and New York Life

Resilience and Claims (Insurtech SF)
Dec 8 | 5:00pm – 8:00pm PT | Bay Area
– Speakers include leaders from: Tokio Marine, Avanta Ventures, and Gigaforce

InsurTech Spring Conference: Competing on Collaboration
March 29-30 | NYC (Chelsea – Pier 60)
1,000+ attendees – Parallel tracks for: Life & Health and Property & Casualty
Speakers include: NFP, Munich Re, American Family, & Employers
More Info and Join Waitlist

InsurTech NY Sponsors

Thank you to our sponsors of our November and December events.

If you are interested in sponsoring our events, send us a note at contact@insurtechny.com.

InsurTech East Coast Deals, Opportunities, and Partner Events

Discover a curated mix of October InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.

InsurTech News and Deals

Stere ($5M, Vida Capital): Solutions: Full stack ecosystem providing capacity partner placement, analytics, and digital tools.

Elpha Secure ($20M, Canapi Ventures): Cyber: Provider of customized cyber coverage and security solutions for small businesses.

Otonomi ($3.4Mm ATX Ventures): Cargo: Digital MGA parametric platform automating logistics coverage and claims in real time.

Partner Events and Programs

InsurTech Hartford Innovation Challenge (Nov 17) – Applications Open: The Innovation Challenge Finals & Awards unveils revolutionary ideas and shines a light on brilliant entrepreneurs, students, and experienced professionals.

Reuter Connect Claims (Nov 2-4): Chicago

DFS Exhcange – NY Department of Financial Services newly-launched engagement platform to foster the growth of responsible innovation in financial services in New York.

The Reuters Insights Report: Overcoming Supply Chain and Inflationary Pressures with Technology

For more information and registration for these events and programs, visit our website: https://www.insurtechny.com/upcoming-insurtech-conferences/

Jobs at carrier/broker innovation and venture teams

Employers Ins – Senior Product Manager

Ethos Life – Director, Actuarial

Ethos Life – Product Actuary

Ethos Life – Product Performance Actuary

Ethos Life – Product Performance Associate Actuary

Verisk – Actuarial Associate

For more information and applications visit our blog: https://www.insurtechny.com/jobs

Looking for Brokers / Retail Agents to Meet Startups

Are you looking to find new unique products to distribute? Are you a broker? If so, we have an opportunity for you to meet the startups in our MGA Lab on Nov 14th in NYC. They will be presenting to brokers about their new product offerings to get feedback. Read more about the program: MGA Lab.

For more information reach out at contact@insurtechny.com.

InsurTech Growth: InsurTech NY Announces its 2022 Growth Stage Accelerator Cohort

NEW YORK, Oct. 13, 2022 /PRNewswire/ — InsurTech NY, the largest InsurTech community in North America, announced today its third  InsurTech growth stage accelerator cohort.

InsurTech NY’s carrier and broker members selected 32 startups, from a pool of more than 150 applicants in 29 countries, to participate in the hybrid insurance accelerator program. The accelerator starts in October and provides resources to help startups with traction, talent, and financing. Founders will work with insurers seeking to invest in startups, pilot new technologies, and provide risk capacity.

“We are proud to welcome our third cohort into the program to accelerate their growth,” said David Gritz, Managing Director of InsurTech NY. “They are fortunate to be supported by a best-in-class alumni base of 48 startups. The alumni companies already recognize five exits and more than $373 million in up-round funding in less than two years.”

Selected startups include:

Life, Health, and Benefits Lines: Atidot, Benekiva, BetterTradeOff, Cake, Canary Benefits, CoverGo, ForMotiv, FreeWill, GoGo Technologies, InvestSuite, Legacy Life, Monark HQ, PilotBird, Plum Life, Sunny Day Fund, and White Swan.

Property and Casualty Lines: Boston Geospatial, CogniSure, DataCrest, Hepster, Highwing, Iluminr, Indemn, MeasureOne, PathSpot, PolicyDock, Protosure, Quantumerge, SureBright, Surefyre, Veruna, and Zelros.

During the InsurTech Growth Stage Accelerator, founders will work with 70+ mentors from carriers, brokers, and solution providers to identify opportunities, establish partnerships, and overcome challenges in their business. The accelerator will continue until its culmination at an in-person Demo Day in NYC on November 15.

Subscribe to receive the InsurTech NY Newsletter monthly

About InsurTech NY

InsurTech NY is an international gateway to bring together the insurance innovation community. It brings together carriers, brokers, investors, and InsurTech startups via educational and networking events, a competition, and an accelerator. InsurTech NY’s mission is to accelerate corporate innovation, drive talent to insurance, support innovation-friendly regulation, and improve access to investment.

See more at insurtechny.com or meet its cohort companies at the Spring InsurTech Conference.

InsurTech NY News: The Start of our MGA Lab & ITC Highlights

In this issue of the InsurTech NY Newsletter (The Start of our MGA Lab & ITC Highlights):

• Read about how to start an MGA
• Spotlight: the best of the Blues Bash Happy Hour at ITC Vegas
• See upcoming InsurTech Community Events and Programs
• Follow the latest InsurTech East Coast Deals
• See open roles in the industry

Subscribe to receive the InsurTech NY Newsletter monthly 

The Start of our MGA Lab & ITC Highlights

September 15 marked the start of a grand experiment, our MGA Lab.

With the right environment and nurturing, can you grow an MGA in a Lab?

Founders of aspiring MGAs met in NYC to learn the essential elements of an MGA business model and how to prepare to present to capacity providers. We are excited to welcome the first MGA Lab Cohort:

Boardwalk Insurance
Fursure
Lynxight
Pablow
Possum Insurance
Quantumerge
SingleKey
Sola
Zenployers

If you are interested in meeting the cohort or are a capacity provider that wants to be involved in the program, please reach out at contact@insurtechny.com.

Spotlight: Blues Bash Happy Hour at ITC Vegas

On September 21st, we connected the rock stars of the Insurtech world with a unique networking happy hour. This invite-only event joined 350+ professionals for a night of music and libations at the Las Vegas House of Blues.

It was a unique chance for insurance carriers, brokers, and startups to network while listening to a Grammy-nominated musician. We enjoyed seeing so many familiar faces and building new connections that will endure long beyond the conference.

Thank you to The Financial Revolutionist & Caliber Corporate Advisers and our sponsors Appian Corporation, Boost, Haven Technologies & Vymo for making Blues Bash Happy Hour a memorable night.

Upcoming InsurTech Community Events and Programs

Underwriting Data: What Matters?
Nov 15 | 4:30pm – 8:00pm | NYC
-Speakers include executives from Hippo, Instabase, and Planck

Resilience and Claims (Insurtech SF)
Dec 8 | 5:00pm – 8:00pm PT | Bay Area
– Topics include Property and Climate Change, Single Day Claims Cycle

InsurTech Spring Conference: Competing on Collaboration
March 29-30 | NYC (Chelsea – Pier 60)
1,000+ attendees – Parallel tracks for: Life & Health and Property & Casualty
Speakers include: Grange, Munich Re, American Family, & Employers
More Info and Join Waitlist

InsurTech NY Sponsors

Thank you to our sponsors of our November and December events.

If you are interested in sponsoring our events, send us a note at contact@insurtechny.com.

InsurTech East Coast Deals, Opportunities, and Partner Events

Discover a curated mix of August and September InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.

InsurTech News and Deals

• Modern Life ($15M, Thrive Capital): Life: Only brokerage supporting life agents with end-to-end capabilities for the sales and support process.
• Ledgebrook ($4.2M, Brand Foundry Ventures): Reinsurance: Excess and Surplus MGA using data-driven tech stack to serve the wholesale brokerage market.
• Fairmatic ($42M, Foundation Capital): P&C: Fleet insurance using predictive risk model based on mobile phone data and AI gathered in stealth.
• Planck ($23M, Vintage Investment Partners): Commercial: Automated underwriting platform designed to provide instant risk insights for commercial insurers.
• ProNavigator ($10M, Graphite Ventures): SaaS: Knowledge-sharing platform driven by AI to allow frontline insurance professionals to access detailed data in a simplified format.
• Pie Insurance ($315M, Centerbridge Partners): Workers Comp: Carrier for small business coverage using online platform combined with diverse data sets to more accurately assess risk.

Partner Events and Programs

• DFS Exhcange – NY Department of Financial Services newly-launched engagement platform to foster the growth of responsible innovation in financial services in New York.
• Climate and Insurance Risk Forum – Innsure – October 6th, cambridge, Mass
• Chubb Studio Innovation Challenge – Compete for $15k in prizes by designing and developing business proposals, APIs, and solutions with Chubb Studio technology. (Due Oct 7)
• The Reuters Insights Report: Overcoming Supply Chain and Inflationary Pressures with Technology

For more information and registration for these events and programs, visit our website: https://www.insurtechny.com/upcoming-insurtech-conferences/

Jobs at carrier/broker innovation and venture teams

• Employers Ins – Senior Product Manager
• Employers Ins – IT/Product (SDLC) Roles
• Verisk – Actuarial Associate
• Verisk – Senior Actuarial Associate Property and Casualty

For more information and applications visit our blog: https://www.insurtechny.com/jobs

Looking for Additional Capacity Providers

Does your organization provide capacity for Digital MGAs? Whether you have a delegated authority program, a fronting business, or provide reinsurance, we are looking for additional capacity providers to join us on Oct 13 for Capacity Day in NYC to meet new Digital MGAs.

For more information reach out at contact@insurtechny.com.