Since the beginning of the InsurTech wave in 2015, one theme has remained constant: “Distribution is King.”
The first InsurTech Startup Showcase in Silicon Valley at SVIA in 2015 featured Embroker (digital broker), Trov (embedded insurance), and Jumpstart (Earthquake focused MGA). In 2016, InsureTech Connect highlighted Lemonade’s CEO Daniel Schreiber as its keynote speaker.
The distribution thread continued as insurers like AXA, MunichRe, American Family, and SCOR developed labs and Corporate Venture groups to partner with and invest in evolving distribution models. American Family invested in Coverhound’s Series C. SCOR backed many of the rising stars including Branch and States Title. MunichRe incubated Tenzy, an internal project for embedded home insurance. And, AXA XL partnered with Slice to release an on-demand, cloud-based cyber insurance product.
Today, the Hudson Structured InsurTech Index (HPIX), which currently tracks 18 publicly traded InsurTechs, has become a bellwether for established InsurTechs. Of the 18 companies in the Index, 15 are primarily involved in distributing insurance.
To support the trend, InsurTech NY will be hosting an event focused on distribution on Oct 21. Learn about the evolution of distribution through marketplaces, internal innovations, cross-selling, and upgraded workflows. This event will take place in person in NYC and will be live streamed.
Full Event Details: https://distribution2021.eventbrite.com
Spotlight: See Us at InsureTech Connect (ITC)
The largest event in InsurTech is coming up in October. Everyone who is allowed to travel is planning on attending. You can find us at ITC in 2 places.
Innovation Alley – Find InsurTech NY Village in the Expo hall in the middle of Innovation Alley. Stop by and visit our startups who will have expo kiosks: BobTrak, Daylight, Gigaforce, Goose Insurance, OneClick Code, Pinpoint Predictive, Sensely, Stable Insurance, Verikai.
VIP Happy Hour – Join the number one ranked (on Google) ITC Happy Hour co-hosted by Airkit, Appian, Boost Insurance, Daylight, EIS Group, Microsoft, Relay, and Vymo. The Happy Hour will be at the Las Vegas Golf Center and Rockstar Bar. It includes unlimited food, drinks and golf at the range for attendees. You can only attend the event by receiving invites from the co-hosts listed above.
We have a couple remaining spaces for additional co-hosts. If you are interested please reach out to firstname.lastname@example.org.
Upcoming InsurTech Community Events and Programs
Building Digital Distribution Channels
Oct 21 | 1:00PM – 6:00PM | New York (335 Madison Ave) + Virtual
– Featuring: CEO of Kin Insurance, CUO of Hippo, CMO of Nassau, and CEO of iptiQ Americas
– 4 High impact panels: Selling via InsurTech Marketplaces, Building Internal InsurTechs, Accelerating DIgital Workflows, and Reaching the Incremental Last Customer
Integrating Data to Save Lives – Wellness, Safety and ESG
Nov 16 | 5:30PM – 8:30PM | New York (23rd and 5th Ave) + Virtual
– Featuring: SwissRe Head of U/W Propositions, Marsh SVP, Casualty Advisor
InsurTech NY Sponsors
Thank you to our sponsors for supporting the community: Advantage Go, Appian, Avanta Ventures, Boost Insurance, Eversheds Sutherland, e2Value, EY, F-Secure, Levvel/Endava, and Locke Lord.
InsurTech New York Area Deals, Opportunities, and Partner Events
Discover a curated mix of August insurance financings, exits, partnerships, opportunities, and partner events on the East Coast.
InsurTech News and Deals
BriteCore ($20M Raised, Warburg Pincus): P&C. Web-based workflow management platform for agents and brokerages.
Sproutt ($26M Raised, MoreTech Ventures): Life Insurance. Wellness-based life insurance platform for fully underwritten products also offering simplified issue, and guaranteed issue life products.
Kalepa ($14M Raised, Inspired Capital and IA Ventures): Commercial Lines. AI based underwriting platform focused on decision support for existing underwriters.
DealerPolicy ($110M, Goldman Sachs): P&C Insurance: Embedded F&I platform providing automobile dealers a unified solution to cross sell additional products during the financing process.
Trustlayer ($15M, Craft Ventures): RPA and AI: Business focused automated verification system for reviewing insurance coverage and licenses.
Blueprint Title ($16M, Forté Ventures): Title Insurance: Native software platform offering streamlined title searching, documentation, underwriting, and policy issue.
Insurtech Pathways: How insurtech can scale into the US market (Sept 28): Register for virtual event hosted by InsurTech Australia here.
InsureTech Connect (Oct 4-6): Save $200 off published tickets, register here.