insurtech news insurance news 06 Oct 2022
By: Eliza Victorio
Newsletter
Comments: No Comments

InsurTech NY News: The Start of our MGA Lab & ITC Highlights

In this issue of the InsurTech NY Newsletter (The Start of our MGA Lab & ITC Highlights):

  • Read about how to start an MGA
  • Spotlight: the best of the Blues Bash Happy Hour at ITC Vegas
  • See upcoming InsurTech Community Events and Programs
  • Follow the latest InsurTech East Coast Deals
  • See open roles in the industry

Subscribe to receive the InsurTech NY Newsletter monthly 

The Start of our MGA Lab & ITC Highlights

September 15 marked the start of a grand experiment, our MGA Lab.

With the right environment and nurturing, can you grow an MGA in a Lab?

Founders of aspiring MGAs met in NYC to learn the essential elements of an MGA business model and how to prepare to present to capacity providers. We are excited to welcome the first MGA Lab Cohort:

Boardwalk Insurance
Fursure
Lynxight
Pablow
Possum Insurance
Quantumerge
SingleKey
Sola
Zenployers

If you are interested in meeting the cohort or are a capacity provider that wants to be involved in the program, please reach out at contact@insurtechny.com.

Spotlight: Blues Bash Happy Hour at ITC Vegas

On September 21st, we connected the rock stars of the Insurtech world with a unique networking happy hour. This invite-only event joined 350+ professionals for a night of music and libations at the Las Vegas House of Blues.

It was a unique chance for insurance carriers, brokers, and startups to network while listening to a Grammy-nominated musician. We enjoyed seeing so many familiar faces and building new connections that will endure long beyond the conference.

Thank you to The Financial Revolutionist & Caliber Corporate Advisers and our sponsors Appian Corporation, Boost, Haven Technologies & Vymo for making Blues Bash Happy Hour a memorable night.

Upcoming InsurTech Community Events and Programs

Underwriting Data: What Matters?
Nov 15 | 4:30pm – 8:00pm | NYC
-Speakers include executives from Hippo, Instabase, and Planck

Resilience and Claims (Insurtech SF)
Dec 8 | 5:00pm – 8:00pm PT | Bay Area
– Topics include Property and Climate Change, Single Day Claims Cycle

InsurTech Spring Conference: Competing on Collaboration
March 29-30 | NYC (Chelsea – Pier 60)
1,000+ attendees – Parallel tracks for: Life & Health and Property & Casualty
Speakers include: Grange, Munich Re, American Family, & Employers
More Info and Join Waitlist

InsurTech NY Sponsors

Thank you to our sponsors of our November and December events.

If you are interested in sponsoring our events, send us a note at contact@insurtechny.com.

InsurTech East Coast Deals, Opportunities, and Partner Events

Discover a curated mix of August and September InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.

InsurTech News and Deals

  • Modern Life ($15M, Thrive Capital): Life: Only brokerage supporting life agents with end-to-end capabilities for the sales and support process.
  • Ledgebrook ($4.2M, Brand Foundry Ventures): Reinsurance: Excess and Surplus MGA using data-driven tech stack to serve the wholesale brokerage market.
  • Fairmatic ($42M, Foundation Capital): P&C: Fleet insurance using predictive risk model based on mobile phone data and AI gathered in stealth.
  • Planck ($23M, Vintage Investment Partners): Commercial: Automated underwriting platform designed to provide instant risk insights for commercial insurers.
  • ProNavigator ($10M, Graphite Ventures): SaaS: Knowledge-sharing platform driven by AI to allow frontline insurance professionals to access detailed data in a simplified format.
  • Pie Insurance ($315M, Centerbridge Partners): Workers Comp: Carrier for small business coverage using online platform combined with diverse data sets to more accurately assess risk.

Partner Events and Programs

  • DFS Exhcange – NY Department of Financial Services newly-launched engagement platform to foster the growth of responsible innovation in financial services in New York.
  • Climate and Insurance Risk Forum – Innsure – October 6th, cambridge, Mass
  • Chubb Studio Innovation Challenge – Compete for $15k in prizes by designing and developing business proposals, APIs, and solutions with Chubb Studio technology. (Due Oct 7)
  • The Reuters Insights Report: Overcoming Supply Chain and Inflationary Pressures with Technology

For more information and registration for these events and programs, visit our website: https://www.insurtechny.com/upcoming-insurtech-conferences/

Jobs at carrier/broker innovation and venture teams

  • Employers Ins – Senior Product Manager
  • Employers Ins – IT/Product (SDLC) Roles
  • Verisk – Actuarial Associate
  • Verisk – Senior Actuarial Associate Property and Casualty

For more information and applications visit our blog: https://www.insurtechny.com/jobs

Looking for Additional Capacity Providers

Does your organization provide capacity for Digital MGAs? Whether you have a delegated authority program, a fronting business, or provide reinsurance, we are looking for additional capacity providers to join us on Oct 13 for Capacity Day in NYC to meet new Digital MGAs.

For more information reach out at contact@insurtechny.com.