Some people make New Year’s Resolutions, but even with the best intentions don’t make it past March. Others create a vision board to hang in their bathroom that gets marked up with your latest skincare regime. At InsurTech NY, we decided for 2024 the safest thing we can do is to reflect on 2023. No letdowns and no mess.
Since it will be our second full year of being an investor, we reviewed data on the state of 2023 new investments in InsurTech. We reached out to 20 InsurTech investors and asked them two questions; How many new investments did you make in 2023? How many partners are in your fund? Here is what we found (data updated to mid-Oct):
11 of the 20 Funds allowed to publish their data individually. You can see the specific data points on our website: InsurTech VC Reflections.
Now if you are like us, you probably want to make 2024 better than 2023. To that effect, we are launching our 5th global early-stage startup competition to raise awareness for the next crop of InsurTechs and create investment opportunities for InsurTechs (Carriers + VCs do the judging).
If you want exposure for your start or have a friend who is pre-seed, please help us get the word out about the competition to make 2024 a better year for investment.
Competition details: www.insurtechny.com/competition
Contestants will gain access to a prize pool of $200,000 in value, exposure to 10+ early-stage investors and insurance leaders, and have the chance to present in front of 400+ InsurTech influencers live in New York. Applications are open until Feb. 5, 2024.
We are excited to announce that we have secured three of the most successful InsurTech CEOs to speak about journeys and their path to profitability at our InsurTech Spring conference on March 20-21. Come join us to hear:
Alex Timm – CEO of Root
Rick McCathron – CEO of Hippo
Jack Kudale – CEO of Cowbell Cyber
Learn more and register at: https://www.insurtechny.com/
InsurTech Spring Conference [Fast Mover Special if booking in January] Mar 20-21 | 2 Days | Pier 60
– 1000+ influencers, 100+ speakers, 10 startup presentations, + expo hall
InsurTech Slopes USA Jan 31-Feb 1 | Big Sky, MT
– Founder and Investor program. Past partners attended from: AmFam, Anthemis, Altamont, Cameron VC, QBE
Thank you to our sponsors of our InsurTech Spring Conference.
If you are interested in sponsoring a future InsurTech event, send us a note at contact@insurtechny.com.
Discover a curated mix of InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.
InsurTech News and Deals
Partner Events and Programs
See more information and register via our website: www.insurtechny.com/upcoming-insurtech-conferences
Anansi – Strategic Account Manager
Extend – Actuarial Manager
See more information and apply via our blog: https://www.insurtechny.com/jobs
Has the InsurTech NY community helped you make a lasting connection? Do you want an opportunity to get your brand out there? Show your support for InsurTech NY by sponsoring our Spring Conference on March 20-21. To learn more or request information reach out to contact@insurtechny.com.
On Dec 5th, four debaters took the stage – an AI startup founder, a VC venture partner, a solution provider partner, and a law firm partner. They debated on whether the government should reduce barriers for AI and Analytics platforms to access data.
One side made the case that the use of unrestricted data in AI models improves lives. The other side argued that humans have a basic need for privacy and security. The same debate is taking place in corporate boardrooms, among startup founders, and by venture capitalists.
Together as an industry, one that holds trillions of records, our industry leaders must put in the intellectual work to decide where balance exists between total privacy and unrestricted access.
To help you do that thinking and to continue the conversation on all topics related to AI, we have decided to make the theme of the InsurTech Spring Conference (Mar 20-21) – The AI and Analytics Advantage. We will discuss across each functional area from distribution to underwriting to claims and how to ethically maintain your data advantage to be a profitable insurer. Like last year, we have dedicated halls for P&C and L&H.
Learn more and register: www.insurtechny.com/insurtech-spring-conference [Early bird special]
InsurTech Spring Conference [Save 20% with Code Nov-News – Ends Nov 30] Mar 20-21 | 2 Days | Pier 60
– 1000+ influencers, 100+ speakers, 10 startup presentations, + expo hall
InsurTech Slopes EU Jan 16-17 | Switzerland
– Founder and Investor program, 1-day education + 1-day networking
InsurTech Slopes USA Jan 31-Feb 1 | Big Sky, MT
– Founder and Investor program. Past partners attended from: AmFam, Anthemis, Altamont, Cameron VC, QBE
Thank you to our 2023 event sponsors.
If you are interested in sponsoring a future InsurTech event, send us a note at contact@insurtechny.com.
Discover a curated mix of InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.
InsurTech News and Deals
Partner Events and Programs
See more information and register via our website: www.insurtechny.com/upcoming-insurtech-conferences
Anansi – Strategic Account Manager
Extend – Actuarial Manager
See more information and apply via our blog: https://www.insurtechny.com/jobs
Has the InsurTech NY community helped you make a lasting connection? Do you want an opportunity to get your brand out there? Show your support for InsurTech NY by sponsoring our Spring Conference on March 20-21. To learn more or request information reach out to contact@insurtechny.com.
Last week was the Investor Demo Day for our Growth Stage InsurTech Accelerator. We had 39 startups present including current cohort companies, MGA Lab startups, and a few accelerator alumni.
We are happy to announce the 2023 cohort of 41 startups by primary line of business:
Life, Health, and Benefits Lines:
Aerogami, Annuities Genius, Future Capital, Hammurabi, iGuard Fire, Insured Normads, Jove, Knudge, Lazarus AI, Medical Second Opinion, Nestimate, Neutrinos, SortSpoke, Planswell, ScoreData, Triyo, and Uniblox
Property and Casualty Lines:
Agtools, Allium Data, altumAI, Batteryze, Billy, Claim Genius, DocLens, Draftrs, Edify, Floatbot, Gigaforce, Kita, Kwant, Kyber, Modjoul, Mac Intelligence, Optimalex, Otonomi, Previsico, Property Scout, Salient Predictions, Stere, ThingCo, and Voxel
We are excited to usher in our first partner event with Plug and Play in Sunnyvale, CA. Thanks to Alex Tran and his team, we are able to host our InsurTech SF event as part of the Plug and Play Winter Summit on Dec 5th.
At the Summit, we will be hosting a panel on the Impact of AI on Claims. And, we will hold the first-ever 2-vs-2 debate to discuss the balance between generative AI data sources and privacy needs. The debate will feature an AI startup founder who has previously run a debate camp.
Learn more and register: AI Solutions Event (Dec 5)
InsurTech Spring Conference [Save 20% with Code Nov-News – Ends Nov 30] Mar 20-21 | 2 Days | Pier 60
– 1000+ influencers, 100+ speakers, 10 startup presentations, + expo hall
AI Solutions for Insurance Dec 5 | Sunnyvale, CA (Bay Area)
– Featuring Live 2-vs-2 Debate on AI & Data Privacy
InsurTech Slopes EU Jan 16-17 | Switzerland
– Founder and Investor program, 1-day education + 1-day networking
InsurTech Slopes USA Jan 31-Feb 1 | Big Sky, MT
– Founder and Investor program. Past partners attended from: AmFam, Anthemis, Altamont, Cameron VC, QBE
Thank you to our 2023 event sponsors.
If you are interested in sponsoring a future InsurTech event, send us a note at contact@insurtechny.com.
Discover a curated mix of InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.
InsurTech News and Deals
Partner Events and Programs
See more information and register via our website: www.insurtechny.com/upcoming-insurtech-conferences
Anansi – Strategic Account Manager
Fenris Digital – Financial Operations
Fenris Digital – Marketing Manager
See more information and apply via our blog: https://www.insurtechny.com/jobs
Has the InsurTech NY community helped you make a lasting connection? Do you want an opportunity to get your brand out there? Show your support for InsurTech NY by sponsoring our Spring Conference on March 20-21. To learn more or request information reach out to contact@insurtechny.com.
InsurTech NY is proud to make two big announcements.
First, InsurTech NY has partnered with the Lloyds Launchpad program to allow the Lloyds network to participate in the Digital MGA Lab.
Second, the Digital MGA Lab Cohort 2 has now been selected. Meet our cohort of 12 companies with their associated line of business
Read more about the participating startups: https://www.insurtechny.com/digital-mga-lab-cohort-2023/
Blues Bash Happy Hour is back again at ITC, and you won’t want to miss it. Hosted in partnership with Financial Revolutionist and sponsored by Pinpoint Predictive, Federato, Haven Life, and E2Value, this is your chance to unwind and network with industry leaders during ITC.
The happy hour takes place on November 1st from 6-9 PM at B-Side at House of Blues.
Join the waitlist: https://www.insurtechny.com/event_program/blues-bash-happy-hour-2023/
If you have not yet registered for ITC, you can get discounted tickets here: https://www.insurtechny.com/upcoming-insurtech-conferences/
InsurTech Spring Conference [Join the waitlist]
Mar 20-21 | 2 Days | Pier 60
1000+ influencers, 100+ speakers, 10 startup presentations, + expo hall..
Capacity Connect at ITC
Oct 31 | 1 pm – 5 pm | Las Vegas
Best place for MGAs and program administrators to meet at ITC.
Blues Bash Happy Hour
Nov 1 | 6:00pm – 9:00pm | Las Vegas
Join us for an amazing evening at the House of Blues
InsurTech NY Accelerator Demo Day
Nov 9 | 8:00 am – 6:00 pm | NYC
Watch the top 40 startups present from the growth stage accelerator and MGA Lab
InsurTech Slopes
Jan 31-Feb 1 | Big Sky, MT
Founder and Investor program. Past partners attended from: AmFam, Anthemis, Altamont, Cameron VC, QBE and more.
InsurTech NY Sponsors
Thank you to our 2023 event sponsors.
If you are interested in sponsoring a future InsurTech event, send us a note at contact@insurtechny.com.
Discover a curated mix of InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.
InsurTech News and Deals
Partner Events and Programs
See more information and register via our website: www.insurtechny.com/upcoming-insurtech-conferences
Fenris Digital – Financial Operations
Fenris Digital – Marketing Manager
MS&AD Ventures – Analyst/Associate/Sr Associate
See more information and apply via our blog: https://www.insurtechny.com/jobs
If you are a carrier or broker looking to support MGAs, let us know. We have two private program days in NYC where you can meet curated MGAs to offer capacity or distribution. To learn more or request an invite please reach out to contact@insurtechny.com.
You might think the sky is falling in FL and CA as a homeowner.
That means at least 22% of insurance capacity is no longer available in California. Additionally, Flordia’s Citizens Insurance, the insurer of last resort, now has 2 million policyholders. That is nearly double the 2022 total policyholder count. The Home insurance limitations in Florida and California are affecting potential policyholders.
The question remains: do you want to be part of the problem or part of the solution? Collectively with the right focus, we can develop new insurance and loss control products to prevent, mitigate, and insure loss better, even in hard-hit areas.
If you would like to be part of the solution, we are looking for underwriters who want to mentor in the MGA Lab. The MGA lab supports startups to go from 0 to 1 and become a Digital MGA.
Sign-up to mentor: https://2023mgamentor.paperform.co/
InsurTech Spring Conference – March 20-21 – Join waitlist to be notified when tickets are available.
Data Privacy and Security for InsurTechs – August 23 – InsurTech Legal Academy webinar will focus on the key issues, including recent changes to the CCPA and other states’ omnibus privacy laws.
Corporate VC in Insurance – Nov 9 – Panel discussions on how corporate VC is affecting innovation across the industry with extended networking time.
InsurTech Amplified Podcast – We have partnered with Michael Waitze Theres Blissing to share audio content with you. Check for episodes with Tony and David each month.
InsurTech NY Sponsors
Thank you to our 2023 event sponsors.
If you are interested in sponsoring a future InsurTech event, send us a note at contact@insurtechny.com.
Discover a curated mix of May and June InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.
InsurTech News and Deals
Sigo ($5.1 million, Zeal Capital Partners, Listen Ventures): P&C: NYC and Austin-based auto insurer focused on Spanish language-speaking policyholders
1Fort ($2 million, Village Capital): P&C: NYC-based cyber insurance automation platform
Certificial ($15 million, Nyca Partners): P&C: Raleigh-based insurance verification company
Partner Events and Programs
Nxt Commercial Innovation Programme (Due August 31)
NAIC InsurTech Forum (Sept 13)
InsurTech Leaders Summit (Sept 20-21)
India InsurTech Association Annual Event (Sept 23)
Global Insurtech Summit USA (Sept 26)
Reuters Connected Claims (Sept 26-27)
InsurTech Connect Last Vegas (Oct 31-Nov 2) (Link and Promo Code on our site)
Venture 135 (Nov 15-16) (Apply to Pitch)
See more information and register via our website: www.insurtechny.com/upcoming-insurtech-conferences
Fenris Digital – Financial Operations Lead
Fenris Digital – Marketing Manager
MS&AD Ventures – Analyst/Associate/Sr Associate
StreetWise Partners – Chief Development Officer
See more information and apply via our blog: https://www.insurtechny.com/jobs
If you are a carrier or broker looking to support MGAs, let us know. We have two private program days in NYC where you can meet curated MGAs to offer capacity or distribution. To learn more or request an invite please reach out to contact@insurtechny.com.
In this issue of the InsurTech NY Newsletter:
Subscribe to receive the InsurTech NY Newsletter monthly
14,722,000 acres have burned. That’s nearly the size of West Virginia.
As of mid-June, there were 330 active wildfires in Canada. With apocalyptic burnt red pictures of Manhattanhenge and regular citing of red on the air quality index, it makes you wonder: What can I do?
It is clear: “If you don’t burn it when you want to, nature burns when it wants to . . .” said Ivan O’Neill, CEO of Wuuii, on the InsurTech Amplified Podcast. “If you don’t tend the land . . . it accumulates and a catastrophic fire happens.”
Now is our time to step up and support InsurTechs like Wuuii that predict, prevent, and mitigate wildfires and other related perils (and tune into InsurTech Amplified).
You can do your part by supporting the upcoming InsurTech accelerators that help startups to predict, prevent, and mitigate property risks.
Early Stage: Pre-Seed – Seed
> Lloyds Lab (Apply til 7/9)
Growth Stage: Seed – Series B
> InsurTech NY Growth Stage (Apply til7/15)
MGA Focused: Any Stage
> Digital MGA Lab (Apply til 7/15)
InsurTech NY Growth-Stage Accelerator (Applications Open until July 15) Program Oct-Nov 2023
Helps startups looking to partner with leading carriers and brokers by providing them mentorship, education, and introduction to industry players who can support their organizational objectives.
More Info and Apply: https://www.insurtechny.com/accelerator/
InsurTech NY MGA Lab (Applications Open until July 15) Program Sept-Nov 2023
Works with startups looking to become MGAs. The lab program condenses the time it takes for startups to develop their MGA product and gain capacity and distribution.
More Info and Apply: https://www.insurtechny.com/mga-lab/
InsurTech Amplified Podcast – Just launched this month. We have partnered with Michael Waitze Theres Blissing to share audio content with you. Check for episodes with Tony and David each month.
InsurTech NY Sponsors
Thank you to our 2023 event sponsors.
If you are interested in sponsoring a future InsurTech event, send us a note at contact@insurtechny.com.
Discover a curated mix of April and May InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.
InsurTech News and Deals
SageSure ($250M, Amwins): P&C: MGU serving coastal markets with quoting and binding through their own platform and risk modeling.
Westhill ($13.5M, Eos Venture Partners): P&C: Claims support platform aiming for increased efficiency by matching contractors to carriers and policyholders.
Faye ($10M, Munich Re Ventures): Travel Ins.: App-based comprehensive travel coverage offering single platform coverage purchase, management, and claims.
Sixfold AI ($6.5M, Bessemer Venture Partners): Saas: Underwriting automation platform built to collect and examine 3rd party data for more timely quote and coverage recommendations.
Precedent ($9M, Adir Ventures): SaaS: Carrier technology utilizing AI, ML, and LLM to streamline communication between carriers and attorney-represented damage claims.
Partner Events and Programs
Reuters Future of Insurance USA (June 27-28)
Surplus Lines Insurance for InsurTechs Webinar (June 28)
NAIC InsurTech Forum (Sept 13)
InsurTech Leaders Summit (Sept 20-21)
Reuters Connected Claims (Sept 26-27)
DFS Exchange – NY Department of Financial Services newly-launched engagement platform to foster the growth of responsible innovation in financial services in New York.
See more information and register: www.insurtechny.com/upcoming-insurtech-conferences
Fenris Digital – Financial Operations Lead
Fenris Digital – Marketing Manager
See more information and apply: https://www.insurtechny.com/jobs
If you are a carrier or broker looking to support MGAs, let us know. We have two private program days in NYC where you can meet curated MGAs to offer capacity or distribution. To learn more or request an invite please reach out to contact@insurtechny.com.
In this issue of the InsurTech NY Newsletter:
Subscribe to receive the InsurTech NY Newsletter monthly
Why June 1 Matters.
Every year the US Government spends more money than it takes in. To fund all of that spending, the government borrows money. Only Congress has the power to limit how much debt is taken on. Right now that limit is $31.4 Trillion. To spend more money, Congress must raise or suspend the debt limit.
Flashback to 2011, a political standoff on the debt limit brought the government within days of defaulting on its debt, resulting in a credit downgrade. At the time, the date of default was nebulous.
That year, a policy researcher at the Bipartisan Policy Center, Shai Akabas, coined the X-Date. The X-Date is the last day the US Government can meet its obligations. The day after it will default.
This time, the X-Date is projected to be June 1 by the Treasury. And, the bond market shows signs of worry. 1 Month T- Bills are trading 100 basis points higher than a week ago.
A government default could have a serious impact on insurers, which hold around 3% of the domestic debt holdings.
This situation demonstrates that the insurance industry does not exist in a bubble. We must be regularly vigilant about other adjacent industries like public service, health care, and real estate. To help you stay informed, we are hosting our next event on InsurTech Adjacencies in Palo Alto on May 16th.
Learn more and register: InsurTech Adjacencies
Investing in InsurTech Adjacencies (Bay Area – Palo Alto) – May 16 | 5:30pm – 8:30pm
– Panels Include: Health & Wellness Investment Trends, Spotting PropTech opportunity in a declining market
More info and Join Registration
The Art of Distribution (NYC) – June 8 | 4:30pm – 8:00pm
– Event Highlights: Art Exhibition, Zen & the Art of Insurance, How to Distribute to Underserved Markets (proceeds go to non-profit orgs)
More Info and Join Registration
InsurTech Trails 2023 (Aspen) – June 20-21
-Founder and Investor Event – 2 days of outdoor activities, Programming and Startup Pitches
More Info and Join Registration
InsurTech NY Sponsors
Thank you to our 2023 event sponsors.
If you are interested in sponsoring a future InsurTech event, send us a note at contact@insurtechny.com.
Discover a curated mix of April and May InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.
InsurTech News and Deals
The Guarantors ($35M, CIBC Innovation Banking): P&C: Rental coverage for personal and commercial lease guarantees and security deposits.
Marble ($4.2M, Distributed Ventures): Distribution: Policy management and distribution platform integrating loyalty program with a digital wallet and policy comparison.
Novidea ($50M, Battery Ventures): AMS: End to end agency management system using cloud-native, data-driven technology to manage customer and policy data.
Israeli Wine Tasting and InsurTech (June 6)
Insurtech Insights (June 7-8)
OnRamp Insurance Conference (June 21-22)
Surplus Lines Insurance for InsurTechs Webinar (June 28)
Reuters Future of Insurance USA (June 27-28)
InsurTech Leaders Summit (Sept 20-21)
DFS Exchange – NY Department of Financial Services newly-launched engagement platform to foster the growth of responsible innovation in financial services in New York.
See more information and register via our website: www.insurtechny.com/upcoming-insurtech-conferences
Enterprise Ireland – Senior Market Advisor
TIAA – Director, FW Solutions
Verisk – Actuarial Associate
See more information and apply via our blog: https://www.insurtechny.com/jobs
We open applications for our MGA Lab, a program to help startups become MGAs, in about 2 months. If you want to find out if the program is a fit for you, please reach out to contact@insurtechny.com.
Insurers face a perplexing challenge when forecasting the future – navigating the impact of inflation.
As an insurer, fulfilling the promise of rebuilding lives after a crisis hinges on understanding the cost of repairs. While many keep a watchful eye on the Consumer Price Index (CPI) report, its status as a lagging indicator poses limitations. How can insurers stay ahead of the curve?
The April 12 report summarizing March seasonally adjusted change represented a magic number, an equilibrium: Fed Funds Rate (4.75 – 5.00) ≈ March CPI (5.0). In theory, that means the Fed will act differently moving forward and possibly pause rate hikes.
The latest forecasting data presents a split perspective, revealing an upward trend in healthcare costs while signaling a downturn in real estate. For healthcare costs, Mercer forecasted a 5.4% rise in healthcare benefits costs and AON projected a 6.5% increase in employer healthcare costs (Word & Brown).
In the context of real estate costs, Redfin predicts median home prices will fall 4% for 2023. Data from March showed home prices fell 1% in February, representing the first annual drop since 2012.
These divergent trends are impacting the world of InsurTech, and we’ve assembled a group to explore the implications on healthcare and real estate adjacency. If you’re interested in exploring this topic, we invite you to register for our next InsurTech SF event on May 16th.
Learn more and register: InsurTech Adjacencies
Three weeks behind us, we reflected on the 2023 InsurTech Spring Conference, which was a record year with over 950 registrations. Here are a few things we learned from the sessions:
> Measuring collaboration is a complex issue, as highlighted by the opinions of NFP, CRC, and NYSIF leaders during our Presidents Panel. Despite their insights, there is no universal answer. However, our upcoming book with Bryan Falchuk represents our best attempt to tackle this challenge.
> InsurTech’s global reach was evident in the top finalists from the UK, Mexico, Ireland, and Nigeria, with the ultimate winners hailing from Mexico (Journey Sports) and Ireland (Kayna).
> Despite the emergence of companies like Lemonade, MGAs remain the optimal choice for insurer-insurtech collaboration, as they continue to underwrite more profitable businesses than traditional underwriters. Learn more in our whitepaper with Novidea.
Read the MGA Whitepaper: MGA Whitepaper
Check out the Photos: Flickr Photo Library
Pre-order the Book – FOI Vol III. The Collaborators: future-of-insurance.com
Investing in InsurTech Adjacencies (Bay Area – Palo Alto) – May 16 | 5:30pm – 8:30pm
Panels Include: Health & Wellness Investment Trends, Spotting PropTech opportunity in a declining market
More info and Join Registration
The Art of Distribution (NYC) – June 8 | 4:30pm – 8:00pm
Event Highlights: Art Exhibition, Zen & the Art of Insurance, How to Distribute to Underserved Markets
More Info and Join Registration
InsurTech Trails 2023 (Aspen) – June 20-21
Founder and Investor Event – 2 days of outdoor activities, Programming and Startup Pitches
More Info and Join Registration
InsurTech NY Sponsors
Thank you again to our sponsors of our InsurTech Spring Conference this past March in NYC.
If you are interested in sponsoring a future InsurTech event, send us a note at contact@insurtechny.com.
Discover a curated mix of March and April InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.
InsurTech News and Deals
Fairmatic ($46M, Battery Ventures): P&C: Commercial fleet coverage using AI to provide realtime data to fleet owners to reduce risk and premium costs.
SageSure ($50M, Wintrust Financial Corp): P&C: MGU focused catastrophe coverage in underserved coastal markets with proprietary risk modeling and binding.
Zorro ($11.5M, Pitango): Health: End-to-end broker platform for employer-based health coverage using API modeling to provide custom coverage to individual employees.
Axle ($4M, Gradient Ventures): Data: Continuous-access insurance verification platform for consumer and commercial to verify and monitor contractor and employee coverages in real time.
Partner Events and Programs
insureNXT Congress and Expo (April 26 & 27)
InsurTech Hartford Symposium (May 2-3)
OnRamp Insurance Conference (June 21-22)
Reuters Future of Insurance USA (June 27-28)
InsurTech Leaders Summit (Sept 20-21)
DFS Exchange – NY Department of Financial Services newly-launched engagement platform to foster the growth of responsible innovation in financial services in New York.
See more information and register via our website: www.insurtechny.com/upcoming-insurtech-conferences
Enterprise Ireland – Senior Market Advisor
Ethos Life – Director, Actuarial
Starr – Internal Management Consultant
Verisk – Actuarial Associate
See more information and apply via our blog: https://www.insurtechny.com/jobs
We open applications for our MGA Lab, a program to help startups become MGAs, in about 2 months. If you want to find out if the program is a fit for you, please reach out to contact@insurtechny.com.
InsurTech Spring Conference 2023 will be the best InsurTech NY conference yet with over 800 registrations, 100+ speakers across fireside chat, 30+ panels and TED-Style talks, 30+ expo booths, and presentations by the 10 finalists of Global Early-stage Insurtech Competition.
As a lot is going on in this 2-day Insurtech 2023 Spring Conference, here are a few ideas to maximize your conference experience.
(Note: If you still have not registered for the conference, you can still do so here)
Date: 3/29 Wed (Day 1) to 3/30 Thu (Day 2)
Start Time: On 3/29, registration starts at 9 AM, with content starting at 12 PM for the pre-event seminar and opening of the conference at 1 PM. Expo will open at 1:15 PM
Registration on the Day of [Important]: Please find the email with the ticket QR code from insurtechny@buytickets.at. When you arrive, head to the Registration Desk of InsurTech Conference 2023 and show your QR code. (Note: If you did not purchase your ticket, the original ticketholder must forward you the. Email help@insurtechny.com for help)
Doors open at 9 AM and the conference starts at 1 PM. To avoid long lines and missing your first event, we recommend arriving early.
Hotel: Gansevoort Meatpacking NYC, Hotel Chelsea, or Chelsea Savoy Hotel mainly based on proximity to the Conference Location. More on hotels here.
Conference Location: Pier 60 Chelsea Piers New York, NY
“Competing on Collaboration” is our Insurtech Conference 2023 theme, exploring how insurance stakeholders can collaborate for a win-win partnership. A few important notes about the content:
Content: Look at the Agenda to see which sessions you want to attend.
Competition: Startup Finalists of the 4th annual Global Early-stage InsurTech competition will present in Hall 1 on Day 2 (10:30 AM)
Pre-Event Seminars: Pre-event seminars will be provided 1 hour before the opening of the conference on Day 1 (12 PM), which include “Insurance Claims Benchmark Study” in Hall 1 and “Finding and Retaining Superstar Talent” in Hall 2.
An important part of our conference is meeting existing and future partners. Below are some ways to find and meet attendees:
Brella Networking App: Use the networking app to schedule meetings or meet separately before or after the events on 3/29 and 3/30. All registered attendees should have received an email from Brella (noreply@brella.io) with your activation link for conference networking. If you have not, please email help@insurtechny.com
Some important items about Brella:
Visit Expo and Stamps Game: There are 33 booths/tables in the Expo hall area (see map). And for those interested in winning amazing prizes such as a 5-day dream vacation package ($2500 value), Bose Headphone NC700, or Apple Watch, visit and get stamps from any 25 of the 33 booths/tables, for a chance to win the prize. While visiting the booths at Spring InsurTech Conference 2023 you can talk to them to see if there are ways you can partner with them!
Cocktail Hour: On Day 1 at 5:30 PM, we are hosting a cocktail hour for all attendees. You can expect amazing drinks, hors d’oeuvres, and surprise entertainment.
Serendipitous Networking: The best relationships often come from meeting random people and forming unexpected connections. Be open-minded and embrace spontaneous mingling.
Follow-up: None of the new relationships you created at the conference will last if you did not follow up after the conference. Follow up for a call to discuss details about potential ways you can work together.
Boast that you attended the InsurTech Spring Conference 2023, the first US InsurTech conference of the conference season.
Hashtags: Take pictures and post them on LinkedIn and social media of your choice! #insurtechNY #insurtechspring #insurtechconference2023 @InsurTech NY
Substantial analysis has been done on the timeline and actions that crashed Silicon Valley Bank (SVB).
So we will skip the timeline and share our takeaway for insurers.
First, Banking 101 – Banks safeguard customer money. Most money is held as demand deposits able to be withdrawn at any time. Banks leverage customer deposits to originate loans. The yield spread between loans and interest paid on deposits covers operations.
What happens if you have more deposits than you can safely underwrite loans (like SVB)
Some banks do nothing and accept lower profit. Other banks invest the money. Investments can range from short term treasuries to more esoteric options like venture debt and mortgage backed securities. Silicon Valley Bank went too long on duration and was too concentrated in esoteric, correlated risk.
Insurers are similar to banks except they receive premiums that are held in reserve for claim payments. Insurers can shield themselves from the risks by:
-Matching duration of risk to duration of investment (e.g. 10 year life policy to 10 year treasury)
-Avoiding correlated risk in a single correlated “mega-class” like VC-backed startups
-Not underwriting beyond their capacity and building redundancy in the reinsurance stack
-Protecting their image and reputation with careful PR and communications
For more commentary on the topic, listen to our podcast with Michael Waitze of InsurTech Asia.
This year we received more than 125 applications to our Global InsurTech Competition. More than 25 judges representing carriers, brokers, and investors reviewed the applications and selected the top nine. Then you voted for the wildcard to make the top ten. More than 3,000 votes were cast across 26 companies.
Top ten startups are: Redkik, Otonomi, InsurX, Kayna, Mitigate, Stream Claims, FireBreak Risk, Journey Sports, Futura Genetics, and Octamile (wildcard).
The top ten startups will be pitching live at the InsurTech Spring Conference on March 29-30. Today is your last chance to save 10% on tickets.
More info and Register: https://www.insurtechny.com/insurtech-spring-conference/
InsurTech Spring Conference: Competing on Collaboration
March 29-30 | NYC (Chelsea – Pier 60)
700+ attendees – Parallel tracks for: Life & Health and Property & Casualty
Speakers include: NFP President, Munich Re Head of Innovation, Palomar CLO, & TIAA CIO
More Info and Join Registration
InsurTech NY Sponsors
Thank you to our sponsors of our InsurTech Spring Conference in NY.
If you are interested in sponsoring a future InsurTech event, send us a note at contact@insurtechny.com.
Discover a curated mix of January InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.
InsurTech News and Deals
OpenEyes ($18M, Insight Partners): Commercial P&C: Full-stack carrier based on utilizing real-time data capture to mitigate risk and reduce costs for commercial fleets.
Opkit ($1M, Global Founders Capital): Health: Verification platform focused on automated data delivery to virtual and telehealth providers.
Assured Allies ($42.5M, FinTLV Ventures): LTC: Platform for traditional LTC carriers to provide support and preventative measures for clients through machine learning and predictive analysis.
Partner Events and Programs
insureNXT Congress and Expo (April 26 & 27)
InsurTech Hartford Symposium (May 2-3)
InsurTech Leaders Summit (May 24-25)
OnRamp Insurance Accelerator (Applications Due April 10)
OnRamp Insurance Conference (June 21-22)
DFS Exchange – NY Department of Financial Services newly-launched engagement platform to foster the growth of responsible innovation in financial services in New York.
See more information and register via our website: www.insurtechny.com/upcoming-insurtech-conferences
Enterprise Ireland – Senior Market Advisor
Ethos Life – Director, Actuarial
Starr – Internal Management Consultant
Transverse – Program Manager
Verisk – Actuarial Associate
See more information and apply via our blog: https://www.insurtechny.com/jobs