InsurTech NY News: Four Years into One

Once life adapts to the new normal, December 2020 will be remembered as a special month. The month of the vaccine. Prior to December, Mumps was the fastest vaccine to make it to the market that was developed by a vaccine savant, Maurice Hilleman. (Full NPR Story) This process was functionally manual, using a live virus and evolving the virus via chicken embryos.

Fortunately for us, vaccine science has evolved since 1967, and a once theoretical technique of using mRNA to develop a vaccine may now become the new standard.

That brings us back to insurance. Imagine how the world could change if 4-year processes could be done in 11 months. If the entire industry came together for change. In a way, that is happening. The InsurTech community is driving change, but many of us are still caught up in low-interest rates and the next six months.

To help you get beyond 2021, InsurTech NY has decided to use March as an opportunity to look out four years to 2025. And, we have partnered with InsurTech Hartford, in the spirit of bringing the industry together. Join us on March 10-11 for a discussion on 2025, for our InsurTech Spring Conference, themed Catering to the Customer of 2025.

Upcoming InsurTech Events and Programs

InsurTech Spring 2021 Conference: Catering to the Customer of 2025 (Pre-registration)
Mar 10 – 11 | 2 Full-Days | Educational Content, Virtual Expo, and Networking | Virtual
– 75+ speakers, 20+ startup pitches, 2 global competition
– Two most active InsurTech communities in North

InsurTech NY Sponsors

Thank you to our sponsors for supporting the community: E2Value, EY, ClarionDoor, Locke Lord, Britecore, Guidewire, Eversheds Sutherland, EIS

InsurTech New York Area Deals and Opportunities

Discover a curated mix of November and early December insurance financings, exits, partnerships, and opportunities in the New York area.

Smartvid.io ($5M, IA Capital) Commercial Lines: AI-powered construction safety platform to help companies identify their highest risk projects and to act to prevent incidents from occurring.

Battleface ($12M, Greenlight Re) Personal Lines: Speciality travel insurance for travelers visiting or working internationally.

Centivo ($34M, B Capital Group) Health Lines: Administrator of self-funded health plans for employers.

Novidea ($15M, JAL Ventures) Multi-Line: cloud-based agency management system (AMS)

OneShield (Undisclosed, Bain Capital) P&C Lines: A portfolio of core system platforms for policy management, billing, claims, rating, and business intelligence.

CAIS Group ($50M, Eldridge) Wealth Management: financial technology platform for financial advisors who seek improved access to and education about alternative investment strategies.

DataRobot ($320M, Altimeter Capital) Multi-Line: Enterprise AI platform democratizing data science with end-to-end automation for building, deploying, and managing machine learning models.

FinPay Holding ($5M, Montreux Growth) Health Lines: Automating patient engagement to deliver cost transparency, education, and affordable payment options for patients.

Openly ($40M, AVP) Personal Lines: A technology-enabled, high-end home MGA.

Jornaya (Acquisition amount undisclosed, Verisk): Proprietary behavioral data to help marketing teams improve consumer engagement through an understanding of buying journeys.

Interested in Volunteering?

InsurTech NY is actively looking for individuals looking to connect deeper into the InsurTech community. If you are interested, email us at contact@www.insurtechny.com.

Best,
David and Tony
InsurTech NY Team