You might think the sky is falling in FL and CA as a homeowner.
- AAA stopped renewing packaged policies in FL
- AIG is limiting insurance in coastal FL
- Allstate stopped writing business in CA
- Farmers stopped writing homes in FL and limited coverage in CA
- Nationwide is making it harder to obtain coverage in 36 states
- State Farm stopped writing homeowners in CA
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 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/
Upcoming InsurTech Community Events and Programs
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 email@example.com.
InsurTech East Coast Deals, Partner Events, and Open Roles
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
Jobs In Carrier/Broker Innovation and Venture Teams
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
Looking to support MGAs?
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 firstname.lastname@example.org.