The competition will have two tracks and award $300,000 in prizes to the winning teams. Startups in the early-stage track will compete for the title of the most investable startup. Meanwhile, the growth-stage teams will compete to demonstrate the highest yearly growth potential. Top teams will pitch their business or demo their platform at the InsurTechNY’s Spring 2020 Conference in New York City on March 19th.

How to Apply and Win

Application Process

Submit your application between January 7th and February 7th, 2020. We are accepting only 100 applicants for each competition, so apply early.

Early-Stage: Go to F6S application page here.

Growth-Stage: Go to F6S application page here.

Selection Process

There will be 2 stages of selection from Feb 7th to March 19th

1. Finalists (February): Judges will select top 10 startups from each competition based on submitted applications and any additional requested information
2. Winners (March 19): Top 10 early-stage startups will present their investor pitch to InsurTech investor judging panel. Top 10 growth-stage startups will present a product and sales demo to Carrier and Broker executives. The presentations must be made in-person at InsurTechNY Spring 2020 Conference in New York on March 19th.

Selection Criteria

Early-Stage: Exhibit the most invest-able characteristics by product, market, and team.

Growth-Stage: Demonstrate the greatest percent revenue growth potential for 2020 to 2021.

Judges

We are bringing together an expert line up of insurance investors and carrier / broker leaders. This page will be continuously updated with new judges.

Who Should Apply?

If you are a founder of a startup that provides innovative solutions to problems in the insurance industry, then you are eligible to apply. This usually means that your startup either helps solve existing problems of the incumbent insurance carrier or broker or are solving the problem by going to customers directly via new insurance carrier or broker.

Note which competition you should apply to depending on your annual run-rate per below:

Early-Stage: Startups with less than or equal to $500,000 USD in annual run-rate.

Growth-Stage: Startups with more than $500,000 USD in annual run-rate.

Why Apply?

The InsurTech Startup 2020 Competition was created to spotlight InsurTech startups with the potential to change the industry. We have gathered together the top investors, insurance carriers, and service providers to provide prizes and participate in judging. Here’s how you benefit:

Early-Stage:

• Showcase your startup in front of 25+ early-stage investors focused on InsurTech.
• Present to 10+ Angel groups and 15+ VCs + CVCs
• Win prizes

Growth-Stage:

• Jump Start your business development with exposure to 20+ carrier and broker buyers.
• Demo your platform to 200+ insurance influencers
• Have your product reviewed by 10+ Carrier and Broker executives
• Win prizes

Prize

We have meticulously put together a set of over $300,000 in prizes, which will be distributed across the top 3 winners from each competition (i.e. Early-Stage, Growth-Stage). These prizes are a combination of convertible notes, products, and services that growing InsurTechs need. (See Prize Awarded By section for details on the actual Prize)

First Prize: $100,000 in Prize Value

Second Prize: $40,000 in Prize Value

Third Prize: $10,000 in Prize Value

Prizes Awarded By

We are continuously updating our prize providers and they are subject to change.

• Livegenic: Application Development
• Startup Owl: Product, Growth-Hacking and Financing strategy
• RCI: Technology Implementation
• Horton International: Executive Search
• Stanton PR: Public Relations Strategy
• CH&Co: Business Startup Integration
• Integrity ACLM: Employee Search
• Pro-Global: Staffing
• VirtualForce: Application Development
• Microsoft: Azure credits
• McCarter & English: Startup Legal Advice

Terms & Conditions

For terms & conditions for startups participating in the competition, please click here to see details.

About InsurTechNY

InsurTechNY’s mission is to bring together carriers, brokers, startups, and investors to help accelerate digital transformation of the Insurance industry in greater New York region. We do this by facilitating new relationships and sharing insights from influencers within the industry through hosting 6 educational and networking events a year (est. every 2 months). Please visit our website, www.InsurTechNY.com for more details.

Last InsurTech NY event

Our last InsurTechNY event was on Dec 5th, and we hosted over 120 people for a sold-out event on War Stories working with InsurTech Startups. Influencers from Carriers/Brokers such as NY Life, Prudential, and Everest Re and InsurTech startups such as Hyper Science and Livegenic and investors from Finvenstudio and Overlook Rock attended the event from the greater NY region and beyond.

Video and pictures from the event below:

Video: Full event on Youtube

Photos: Flickr Event Album