InsurTech NY News: Is a Super Bowl Ad worth it?
The Super Bowl is an excellent time for family and friends to bond over sports or maybe just an excuse to consume excessive amounts of snacks and yell at the TV (you choose).
Beyond personal experience, it is big business for marketing organizations. According to AdAge, a 30-second spot costs $7 million and is expected to reach 100 million viewers. That translates into $70 for every 1,000 viewers (CPM). AdStage benchmarked the median CPM at $41 in a 2019 study.
So if it is not the most cost-effective, it must certainly expand brand value. Let’s check 7 advertisers from 2022 and their Year-over-Year change in market capitalization to see if that rings true.
Budweiser (CPG) : (4%)
Amazon (Tech) : (35%)
T-Mobile (Telecom) : 19%
General Motors (Auto) : (19%)
Planet Fitness (Fitness) : (7%)
FTX (FinTech) : (100%) / Bankrupt
Rocket Mortgage (Banking) : (16%)
Excluding FTX, the average impact on market cap was (10%). Including FTX, it was (23%). Compared to the S&P 500 at (8%), a Super Bowl ad is not guaranteed to boost your brand.
There is good news in all of this. Zero insurers advertised in the 2022 Super Bowl.
And, if you are a new startup and you are still itching to pitch in a competition our Global InsurTech competition applications are open until February 10th. Best of all, making a video ad is totally optional.
Apply or share with your friends: http://www.insurtechny.com/competition
Spotlight: Embedded Insurance Webinar with InsureMO
Embedded Insurance is expected to exceed $70B in GWP by 2030.
The challenge is today most embedded insurance offerings exist for non-complex lines of business like mobile phone warranties or mobility products. For embedded insurance to reach its full potential, it requires the right infrastructure and experience to build a working system.
Learn from Volvo Financial Services and InsureMo on how to build an embedded insurance system that works with more complex lines of business.
More info and Register: https://www.insurtechny.com/event_program/embeddedinsurance/
Upcoming InsurTech Community Events and Programs
Embedded Insurance with InsureMO
Feb 16, 2:00pm-2:30pm ET | Webinar
Speakers: Director, Volvo Financial Service; Head of North America Operations, InsureMO
Learn how to build embedded systems for complex lines
More Info and Registration
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 firstname.lastname@example.org.
InsurTech East Coast Deals, Partner Events, and Open Roles
Discover a curated mix of January InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.
InsurTech News and Deals
Walnut Insurance ($4M, ATB Financial): Life, P&C: API-driven embedded distribution infrastructure providing businesses with streamlined incorporation of insurance products into their products.
Wunderite ($7.2M, Insider Spark Capital): SaaS: Automation platform for agencies to streamline policy issue through a fully digital process.
Dayforward ($25M, AXA Venture Partners): L&H: Full-stack digital carrier driven by automated underwriting and streamlined front-end for customized policies.
Coverdash ($2.5M, Bling Capital): P&C: End-to-end digital broker focused on small businesses offering binding and payment of multiple lines in one transaction.
Partner Events and Programs
insureNXT Congress and Expo (April 26 & 27)
InsurTech Hartford Symposium (May 2-3)
OnRamp Insurance Accelerator (Applications Due April 10)
OnRamp Insurance Conference (June 21-22)
RevTech Labs Class 18 Accelerator (Applications Due Feb 17th)
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
Jobs In Carrier/Broker Innovation and Venture Teams
AAA Mid Atlantic – Senior Insurance Analyst – Digital Transformation
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
Want to Judge our Early-Stage Startup Competition?
Do you run a VC fund, angel syndicate, or corporate venture unit? If so, we are looking for judges who can review the applications for our early-stage startup competition. Judges are required to register for the event. If you would like to be considered as a judge, please reach out at email@example.com.