This year’s Spring Conference was a success!

See what all the buzz was about…

MEDIA RECAP 2024

ON LINKEDIN – At InsurTech NY March 20-21, speakers on panels shared insights on embedded insurance, underwriting innovation, and innovating during core systems upgrades…

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IN PDF, March 22, 2024 – “Insurers had better get on board with artificial intelligence because it’s here to stay, say industry watchers. ‘I think that AI is already sticking,’ said Todd Rissel, CEO of e2Value, Inc., a property appraisal company in Stamford, Conn., who was speaking at the Spring InsurTech Conference in New York this week…”

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ON WEBSITE – InsurTech M&A seems to be showing signs of life. While there hasn’t been an influx of completed deals, more discussions have been taking place compared to last year, attendees at the Insurtech Spring Conference said…

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IN PDF, April 1, 2024 – “Regulations, I don’t see them as a roadblock,” said Nanditha Nandy, head of data-driven underwriting solutions for Swiss Re, speaking at the InsurTech NY conference in March. “They are the necessary gatekeepers. If we are able to explain the decision-making, we should be fine.”

See Article

VIDEOS, April 5, 2024 –
AM Best TV has covered the Insurtech 2024 Spring Conference thoroughly. Click here for a full breakdown of their content around the conference with topics like: “Insurtech Leaders Say a Strong Insurance Background Is Part of Successful Recipe”

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VIDEO, April 2, 2024 – “Root CEO Alex Timm has said the insurtech appreciates the recent recognition it has received for its performance among investors, and argued that the auto specialist’s technology advantage is starting to become more evident as it outperforms the industry.”

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ON WEBSITE, March 27, 2024 – “InsurTech NY — an insurtech community association, incubator, and investor — held its 2024 Spring Conference on March 20 and 21. Presentations and panels centered on the new wave of opportunities from AI and data analytics within insurance. We look at the key themes and use CB Insights data to dig into the underlying trends.”

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ON WEBSITE, April 5, 2024 – “InsurTech NY founders: Group aiming to provide “ecosystem” to foster community. InsurTech NY’s co-founders David Gritz and Tony Lew have outlined the group’s mission of fostering community within the segment and to leverage their insights and relationships to invest and incubate start-ups to help them get off the ground.”

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ON WEBSITE, April 11, 2024 – “Following InsurTech NY‘s Spring Conference, Arch’s Bryan Adams sat down with Michael Shashoua from Digital Insurance to discuss third-party data management. The pair explored both challenges and solutions for the insurance industry when it comes to handling third-party data. Bryan even shared two data-related trends on the horizon that have caught his interest.”

Watch Clip

Global Startup Competition Finalists Announced!

With Super Tuesday behind us, we are now turning our focus to the competitive spirit within our industry.

More than 30 VC and carrier judges have deliberated and selected the top nine startup competition finalists for our Global InsurTech Competition. With 149 applications, our selection process is on par with Princeton University’s acceptance rate.

Top Startups: Anansi, FutureProof Technologies, Invive, Lukango, Qumis, Samos Insurance, Vecto, Vellum Insurance, and Wuuii.

For the last startup, we invite you to be a part of the process. The final startup (wildcard) will be selected by popular vote. Check out the startups given a wildcard opportunity, review their videos, and submit your vote by March 8th.

Competition Wildcard: https://www.insurtechny.com/competition/

All finalists will present at our InsurTech Spring Conference. Don’t forget to register.

Spotlight: Insurance Innovation Playbook @ InsurTech Spring

Conning Research and InsurTech NY have been interviewing carriers to figure out the playbook for making innovation work. 10+ carriers have participated in in-depth interviews.

Our own Tony Lew will present the research at our InsurTech Spring Conference on March 20th.

Join us and benchmark your peers: www.insurtechny.com/insurtech-spring-conference

Upcoming InsurTech Community Events and Programs

InsurTech Spring Conference
Mar 20-21 | 2 Days | Pier 60
– 1000+ influencers, 100+ speakers, 10 startup presentations, + expo hall

The Sound of Underwriting
Jun 4 | Flatiron District, NYC
– Learn how underwriters think about entertainment + listen to an InsurTech musician

New Data Sources
Jun 12 | Sunnyvale, CA
– An InsurTech SF event, this Plug and Play Tech collaboration covers topics from IoT sensors and telematics to advanced analytics and machine learning

Spring Conference Partner Events

Caffeine Kickstart by Fenris Digital

March 20th 10am – 12pm | Bluestone Lane cafe at Pier 62

ITA After Conference Networking Event

March 20, 6:30pm-8:30pm | Porchlight

InsurTech NY Sponsors

Thank you to the sponsors of our upcoming InsurTech Spring Conference.

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 InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.

InsurTech News and Deals

Coverdash ($13.5M, Nyca Partners): NYC-based SMB-focused embedded insurtech solution

Healthee ($32M, Sequoia Capital): Harnessing AI for a better user experience, providing insurance answers

intenseye ($64M, Lightspeed Venture Partners): Workplace safety solutions leveraging existing infrastructure

Partner Events and Programs

• InsurTech Hartford Symposium (Apr 17-18)
• NY DFS Exchange (Jun 30)
• RevTech Labs – NYC Fintech Pitch Event (Apr 11)
• RevTech Labs – Fintech + Insurtech Generations (Jun 12-13)

See more information about our partner events here

Jobs In Carrier/Broker Innovation and Venture Teams

Anansi – Strategic Account Manager
Gallagher – Client Service Positions
Lockton – Personal Risk (High Net-Worth) Sales Executive
Tokio Marine – Head of Red Team and Intelligence

See more information and apply via our blog: https://www.insurtechny.com/jobs

Sponsor InsurTech NY Community Activities

Has the InsurTech NY community helped you make a lasting connection? Do you want an opportunity to get your brand out there? InsurTech NY has many ways to support your marketing needs: community events, podcast, newsletter, webinar and more. To learn more, reach out to contact@insurtechny.com

Best,
David, Tony, and the InsurTech NY Team

InsurTech NY News: Going Bare on Homeowner’s Insurance

Carriers dropping out of markets and approval of new rate increases are having unintended consequences on the homeowner’s insurance markets.

Homeowners are now deciding to “go bare” and forego homeowner’s insurance completely. According to Axios, almost 40% of homes in the US are mortgage-free, so they don’t have lender requirements. As a result, data from III shows that 12% of homeowners are not covered with insurance, more than double the 5% rate just a few years ago.

This change in the market is an opportunity for startups.

It is an opportunity because startups that are selling into difficult markets like Greenshield Risk, SPIN, and Sola – graduates of our MGA Lab – can capture market share and benefit from high rates while incumbents stay out of the market.

Beyond broadening the market, our hope is we can take long-term view and focus on risk mitigation. Solutions like creating defensible space and hardening properties will allow homeowners to rest assured and afford protection.

If you are curious about some of the startups shaking up the space, join us to meet some of them at our InsurTech Spring Conference.

As a regular newsletter subscriber, you can save 10% off tickets with code “Go-Bare”.

Register and learn more at: https://www.insurtechny.com/insurtech-spring-conference/

Spotlight: InsurTech Slopes 2024

On Jan 31, 20 founders and investors gathered in Montana to forge new relationships. This event was the sixth in a series of small group events we have been holding under the InsurTech Founder and Investors Forum Series.

The summer edition, InsurTech Rapids has just been announced; learn more and join the waitlist: InsurTech Rapids.

Upcoming InsurTech Community Events and Programs

InsurTech Spring Conference
Mar 20-21 | 2 Days | Pier 60
– 1000+ influencers, 100+ speakers, 10 startup presentations, + expo hall

The Sound of Underwriting
Jun 4 | Flatiron District, NYC
– Learn how underwriters think about entertainment + listen to an InsurTech musician

InsurTech NY Sponsors

Thank you to sponsors of our upcoming InsurTech Spring Conference.

If you are interested in sponsoring our events? Make a request here

InsurTech East Coast Deals, Partner Events, and Open Roles

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

InsurTech News and Deals

• Buddy ($7M, Sequoia Capital): VA-based insurance gateway for software companies.
• Cake ($1.3M, Markd): IN-based transactional marketplace for independent insurance agents
• Kin ($15M, Activate Capital): IL-based home insurance provider

Partner Events and Programs

• Data Innovation in Insurance (Mar 5-6)
• InsurTech Hartford Symposium (Apr 17-18)
• NY DFS Exchange (Jun 30)
• InsurtechLIVE 24 Conference (Feb 13)
• RevTech Labs – NYC Fintech Pitch Event (Apr 11)
• RevTech Labs – Fintech + Insurtech Generations (Jun 12-13)

See more information about our partner events here: https://www.insurtechny.com/upcoming-insurtech-conferences/

Jobs In Carrier/Broker Innovation and Venture Teams

Anansi – Strategic Account Manager
Extend – Actuarial Manager
Gallagher – Client Service Positions
Lockton – Personal Risk (High Net-Worth) Sales Executive

See more information and apply via our blog: https://www.insurtechny.com/jobs

Consider Sponsoring InsurTech Spring

Has the InsurTech NY community helped you make a lasting connection? Do you want an opportunity to get your brand out there? Show your support for InsurTech NY by sponsoring our Spring Conference on March 20-21. To learn more or request information reach out to contact@insurtechny.com

InsurTech NY News: Reflecting on 2023 + 3 InsurTech CEOs to See

Some people make New Year’s Resolutions, but even with the best intentions don’t make it past March. Others create a vision board to hang in their bathroom that gets marked up with your latest skincare regime. At InsurTech NY, we decided for 2024 the safest thing we can do is to reflect on 2023. No letdowns and no mess.

2023 Investments in Insurtech

Since it will be our second full year of being an investor, we reviewed data on the state of 2023 new investments in InsurTech. We reached out to 20 InsurTech investors and asked them two questions; How many new investments did you make in 2023? How many partners are in your fund? Here is what we found (data updated to mid-Oct):

• Total investments across all 20 funds: 100
• Median number of investments: 3.5
• Median investments per partner: 1.3
• InsurTech NY’s Fund Pacing: 3rd Most Active

11 of the 20 Funds allowed to publish their data individually. You can see the specific data points on our website: InsurTech VC Reflections.

Now if you are like us, you probably want to make 2024 better than 2023. To that effect, we are launching our 5th global early-stage startup competition to raise awareness for the next crop of InsurTechs and create investment opportunities for InsurTechs (Carriers + VCs do the judging).

If you want exposure for your start or have a friend who is pre-seed, please help us get the word out about the competition to make 2024 a better year for investment.

Competition details: www.insurtechny.com/competition

Insurtech Early Stage Competition

Contestants will gain access to a prize pool of $200,000 in value, exposure to 10+ early-stage investors and insurance leaders, and have the chance to present in front of 400+ InsurTech influencers live in New York.  Applications are open until Feb. 5, 2024.

Spotlight: 3 Leading InsurTech CEOs to Speak at InsurTech Spring Insurance Conference

We are excited to announce that we have secured three of the most successful InsurTech CEOs to speak about journeys and their path to profitability at our InsurTech Spring conference on March 20-21. Come join us to hear:

Alex Timm – CEO of Root
Rick McCathron – CEO of Hippo
Jack Kudale – CEO of Cowbell Cyber

Learn more and register at: https://www.insurtechny.com/

Upcoming InsurTech Community Events and Programs

InsurTech Spring Conference [Fast Mover Special if booking in January] Mar 20-21 | 2 Days | Pier 60
– 1000+ influencers, 100+ speakers, 10 startup presentations, + expo hall

InsurTech Slopes USA Jan 31-Feb 1 | Big Sky, MT
– Founder and Investor program. Past partners attended from: AmFam, Anthemis, Altamont, Cameron VC, QBE

InsurTech NY Sponsors

Thank you to our sponsors of our InsurTech Spring Conference.

If you are interested in sponsoring a future InsurTech event, send us a note at contact@insurtechny.com.

InsurTech East Coast Deals, Partner Events, and Open Roles

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

InsurTech News and Deals

• Digital Owl ($12M, RGA): Health: Document digitization and case summarization platform for health insurance
• Mile Auto ($4.2M, Ulu Ventures): P&C: Consumer usage-based automobile coverage using computer vision and decision analytics.

Partner Events and Programs

• InsurTech Hartford Symposium (April 17-18)
• NY Dept of Financial Services DFS Exchange (Engagement Platform for Stakeholders)

See more information and register via our website: www.insurtechny.com/upcoming-insurtech-conferences

Jobs In Carrier/Broker Innovation and Venture Teams

Anansi – Strategic Account Manager
Extend – Actuarial Manager

See more information and apply via our blog: https://www.insurtechny.com/jobs

Consider Sponsoring InsurTech Conference this Spring

Has the InsurTech NY community helped you make a lasting connection? Do you want an opportunity to get your brand out there? Show your support for InsurTech NY by sponsoring our Spring Conference on March 20-21.  To learn more or request information reach out to contact@insurtechny.com.

On Dec 5th, four debaters took the stage – an AI startup founder, a VC venture partner, a solution provider partner, and a law firm partner. They debated on whether the government should reduce barriers for AI and Analytics platforms to access data.

One side made the case that the use of unrestricted data in AI models improves lives. The other side argued that humans have a basic need for privacy and security. The same debate is taking place in corporate boardrooms, among startup founders, and by venture capitalists.

Together as an industry, one that holds trillions of records, our industry leaders must put in the intellectual work to decide where balance exists between total privacy and unrestricted access.

To help you do that thinking and to continue the conversation on all topics related to AI, we have decided to make the theme of the InsurTech Spring Conference (Mar 20-21) – The AI and Analytics Advantage. We will discuss across each functional area from distribution to underwriting to claims and how to ethically maintain your data advantage to be a profitable insurer. Like last year, we have dedicated halls for P&C and L&H.

Learn more and register: www.insurtechny.com/insurtech-spring-conference [Early bird special]

Upcoming InsurTech Community Events and Programs

InsurTech Spring Conference [Save 20% with Code Nov-News – Ends Nov 30] Mar 20-21 | 2 Days | Pier 60
– 1000+ influencers, 100+ speakers, 10 startup presentations, + expo hall

InsurTech Slopes EU Jan 16-17 | Switzerland
– Founder and Investor program, 1-day education + 1-day networking

InsurTech Slopes USA Jan 31-Feb 1 | Big Sky, MT
– Founder and Investor program. Past partners attended from: AmFam, Anthemis, Altamont, Cameron VC, QBE

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 contact@insurtechny.com.

InsurTech East Coast Deals, Partner Events, and Open Roles

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

InsurTech News and Deals

• BirdsEyeView (European Space Agency): P&C: Parametric MGA offering automated underwriting and climate-driven analytics.
• Pontera ($60 Million, ICONIQ Growth): Finance: NYC-based SaaS providing advisors a platform for managing held-away accounts.
• Zyla Health ($4 million, Exfinity Venture Partners): Health: AI-based healthcare management platform connecting patients and providers dealing with chronic conditions.

Partner Events and Programs

• BrokerTech Ventures Accelerator (Applications open until Dec 18)
• InsurTech Hartford Symposium (April 16-18)
• NY Dept of Financial Services DFS Exchange (Engagement Platform for Stakeholders)

See more information and register via our website: www.insurtechny.com/upcoming-insurtech-conferences

Jobs In Carrier/Broker Innovation and Venture Teams

Anansi – Strategic Account Manager
Extend – Actuarial Manager

See more information and apply via our blog: https://www.insurtechny.com/jobs

Consider Sponsoring InsurTech Spring

Has the InsurTech NY community helped you make a lasting connection? Do you want an opportunity to get your brand out there? Show your support for InsurTech NY by sponsoring our Spring Conference on March 20-21.  To learn more or request information reach out to contact@insurtechny.com.

Last week was the Investor Demo Day for our Growth Stage InsurTech Accelerator. We had 39 startups present including current cohort companies, MGA Lab startups, and a few accelerator alumni.

We are happy to announce the 2023 cohort of 41 startups by primary line of business:

Life, Health, and Benefits Lines:

Aerogami, Annuities Genius, Future Capital, Hammurabi, iGuard Fire, Insured Normads, Jove, Knudge, Lazarus AI, Medical Second Opinion, Nestimate, Neutrinos, SortSpoke, Planswell, ScoreData, Triyo, and Uniblox

Property and Casualty Lines:

Agtools, Allium Data, altumAI, Batteryze, Billy, Claim Genius, DocLens, Draftrs, Edify, Floatbot, Gigaforce, Kita, Kwant, Kyber, Modjoul, Mac Intelligence, Optimalex, Otonomi, Previsico, Property Scout, Salient Predictions, Stere, ThingCo, and Voxel

Spotlight: Partner Event with Plug and Play – AI Solutions

We are excited to usher in our first partner event with Plug and Play in Sunnyvale, CA. Thanks to Alex Tran and his team, we are able to host our InsurTech SF event as part of the Plug and Play Winter Summit on Dec 5th.

At the Summit, we will be hosting a panel on the Impact of AI on Claims. And, we will hold the first-ever 2-vs-2 debate to discuss the balance between generative AI data sources and privacy needs. The debate will feature an AI startup founder who has previously run a debate camp.

Learn more and register: AI Solutions Event (Dec 5)

Upcoming InsurTech Community Events and Programs

InsurTech Spring Conference [Save 20% with Code Nov-News – Ends Nov 30] Mar 20-21 | 2 Days | Pier 60
– 1000+ influencers, 100+ speakers, 10 startup presentations, + expo hall

AI Solutions for Insurance Dec 5 | Sunnyvale, CA (Bay Area)
– Featuring Live 2-vs-2 Debate on AI & Data Privacy

InsurTech Slopes EU Jan 16-17 | Switzerland
– Founder and Investor program, 1-day education + 1-day networking

InsurTech Slopes USA Jan 31-Feb 1 | Big Sky, MT
– Founder and Investor program. Past partners attended from: AmFam, Anthemis, Altamont, Cameron VC, QBE

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 contact@insurtechny.com.

InsurTech East Coast Deals, Partner Events, and Open Roles

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

InsurTech News and Deals

• Reserv ($20 million, Altai Ventures): P&C: NYC-based claims platform for Carriers and MGAs
  Boundless Rider ($4.25 million, American Family Ventures): Auto: Massachusetts-based MGA focused on the motorcycle and power sports market.
• Layr ($10 million, Cota Capital): Broker Tech: Atlanta-based solution provider serving small to medium commercial brokerage operation needs.

Partner Events and Programs

• BrokerTech Ventures Accelerator (Applications open until Dec 18)
• Plug and Play Winter Summit (Dec 5-7)
• NY Dept of Financial Services DFS Exchange (Engagement Platform for Stakeholders)

See more information and register via our website: www.insurtechny.com/upcoming-insurtech-conferences

Jobs In Carrier/Broker Innovation and Venture Teams

Anansi – Strategic Account Manager
Fenris Digital – Financial Operations
Fenris Digital – Marketing Manager

See more information and apply via our blog: https://www.insurtechny.com/jobs

Consider Sponsoring InsurTech Spring

Has the InsurTech NY community helped you make a lasting connection? Do you want an opportunity to get your brand out there? Show your support for InsurTech NY by sponsoring our Spring Conference on March 20-21.  To learn more or request information reach out to contact@insurtechny.com.

InsurTech NY is proud to make two big announcements.

First, InsurTech NY has partnered with the Lloyds Launchpad program to allow the Lloyds network to participate in the Digital MGA Lab.

Second, the Digital MGA Lab Cohort 2 has now been selected. Meet our cohort of 12 companies with their associated line of business

• 5×5 – General Aviation
• Agtools – Crop Contract Cancellation
• Batteryze – Battery Warranty
• Flora – Fertility
• Green Shield Risk – CAT exposed homeowners
• Hammurabi Insurance – Medical Stoploss
• Invive – Term Life
• Jove – Small Business
• LossPay – Luxury Auto Residual Value
• Otonomi – Air Cargo
• SPIN – Florida homeowners
• StartSure – Small Business

Read more about the participating startups: https://www.insurtechny.com/digital-mga-lab-cohort-2023/

Spotlight: Blues Bash at ITC

Blues Bash Happy Hour is back again at ITC, and you won’t want to miss it. Hosted in partnership with Financial Revolutionist and sponsored by Pinpoint Predictive, Federato, Haven Life, and E2Value, this is your chance to unwind and network with industry leaders during ITC.

The happy hour takes place on November 1st from 6-9 PM at B-Side at House of Blues.

Join the waitlist: https://www.insurtechny.com/event_program/blues-bash-happy-hour-2023/ 

If you have not yet registered for ITC, you can get discounted tickets here: https://www.insurtechny.com/upcoming-insurtech-conferences/ 

Upcoming InsurTech Community Events and Programs

InsurTech Spring Conference [Join the waitlist]
Mar 20-21 | 2 Days | Pier 60
1000+ influencers, 100+ speakers, 10 startup presentations, + expo hall..

Capacity Connect at ITC
Oct 31 | 1 pm – 5 pm | Las Vegas
Best place for MGAs and program administrators to meet at ITC.

Blues Bash Happy Hour 
Nov 1 | 6:00pm – 9:00pm | Las Vegas
Join us for an amazing evening at the House of Blues

InsurTech NY Accelerator Demo Day
Nov 9 | 8:00 am – 6:00 pm | NYC
Watch the top 40 startups present from the growth stage accelerator and MGA Lab

InsurTech Slopes
Jan 31-Feb 1 | Big Sky, MT
Founder and Investor program. Past partners attended from: AmFam, Anthemis, Altamont, Cameron VC, QBE and more.

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 contact@insurtechny.com.

InsurTech East Coast Deals, Partner Events, and Open Roles

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

InsurTech News and Deals

• Openly ($100 million, Eden Global Partner): Homeowners: MA-based homeowners insurance solution
• Authentic ($5.5 million, Slow Venture): P&C: New York-based embedded insurance startup
• Kin ($33 million, QED Investors): Homeowners: Chicago-based DTC home insurance company
• Frontier Risk Group ($3.1 million, Casa Verde): Cannabis: Westport-based commercial insurance startup
• Irys Insurtech ($3.5 million, Markd): BrokerTech: Tampa-based insurance management system,

Partner Events and Programs

• BDA’s Fifth Annual Bermuda Tech Summit (Oct 8-10)
• InsurTech Connect Last Vegas (Oct 31-Nov 2) (Promo Code on our site)
• Venture 135 (Nov 15-16) (Apply to Pitch)
• NY Dept of Financial Services DFS Exchange (Engagement Platform for Stakeholders)

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
Fenris Digital – Marketing Manager
MS&AD Ventures – Analyst/Associate/Sr Associate

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 contact@insurtechny.com.

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 Home insurance limitations in Florida and California are affecting potential policyholders.

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 contact@insurtechny.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 contact@insurtechny.com.

InsurTech NY News: It’s Wildfire and Accelerator Season

In this issue of the InsurTech NY Newsletter:

• Read about how to support InsurTechs that help predict, prevent, and mitigate wildfires
• 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

It’s Wildfire and Accelerator Season

14,722,000 acres have burned.  That’s nearly the size of West Virginia.

As of mid-June, there were 330 active wildfires in Canada. With apocalyptic burnt red pictures of Manhattanhenge and regular citing of red on the air quality index, it makes you wonder: What can I do?

It is clear: “If you don’t burn it when you want to, nature burns when it wants to . . .” said Ivan O’Neill, CEO of Wuuii, on the InsurTech Amplified Podcast. “If you don’t tend the land . . . it accumulates and a catastrophic fire happens.”

Now is our time to step up and support InsurTechs like Wuuii that predict, prevent, and mitigate wildfires and other related perils (and tune into InsurTech Amplified).

You can do your part by supporting the upcoming InsurTech accelerators that help startups to predict, prevent, and mitigate property risks.

Early Stage: Pre-Seed – Seed
> Lloyds Lab (Apply til 7/9)

Growth Stage: Seed – Series B
> InsurTech NY Growth Stage (Apply til7/15)

MGA Focused: Any Stage
> Digital MGA Lab (Apply til 7/15)

Upcoming InsurTech Community Events and Programs

InsurTech NY Growth-Stage Accelerator (Applications Open until July 15) Program Oct-Nov 2023
Helps startups looking to partner with leading carriers and brokers  by providing them mentorship, education, and introduction to industry players who can support their organizational objectives.
More Info and Apply: https://www.insurtechny.com/accelerator/

InsurTech NY MGA Lab  (Applications Open until July 15) Program Sept-Nov 2023
Works with startups looking to become MGAs.  The lab program condenses the time it takes for startups to develop their MGA product and gain capacity and distribution.
More Info and Apply: https://www.insurtechny.com/mga-lab/

InsurTech Amplified Podcast – Just launched this month.  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 contact@insurtechny.com.

InsurTech East Coast Deals, Partner Events, and Open Roles

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

InsurTech News and Deals

SageSure ($250M, Amwins): P&C: MGU serving coastal markets with quoting and binding through their own platform and risk modeling.

Westhill ($13.5M, Eos Venture Partners): P&C: Claims support platform aiming for increased efficiency by matching contractors to carriers and policyholders.

Faye ($10M, Munich Re Ventures): Travel Ins.: App-based comprehensive travel coverage offering single platform coverage purchase, management, and claims.

Sixfold AI ($6.5M, Bessemer Venture Partners): Saas: Underwriting automation platform built to collect and examine 3rd party data for more timely quote and coverage recommendations.

Precedent ($9M, Adir Ventures): SaaS: Carrier technology utilizing AI, ML, and LLM to streamline communication between carriers and attorney-represented damage claims.

Partner Events and Programs
Reuters Future of Insurance USA (June 27-28)
Surplus Lines Insurance for InsurTechs Webinar (June 28)
NAIC InsurTech Forum (Sept 13)
InsurTech Leaders Summit (Sept 20-21)
Reuters Connected Claims (Sept 26-27)

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: www.insurtechny.com/upcoming-insurtech-conferences

Jobs In Carrier/Broker Innovation and Venture Teams

Fenris Digital – Financial Operations Lead
Fenris Digital – Marketing Manager

See more information and apply: 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 contact@insurtechny.com.

InsurTech NY News: The X-Date is Coming

In this issue of the InsurTech NY Newsletter:

• Understand why June 1 matters for insurance & adjacent industries
• 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 X-Date is Coming: Why it Matters for Insurance & Adjacent Industries

Why June 1 Matters.

Every year the US Government spends more money than it takes in. To fund all of that spending, the government borrows money. Only Congress has the power to limit how much debt is taken on. Right now that limit is $31.4 Trillion. To spend more money, Congress must raise or suspend the debt limit.

Flashback to 2011, a political standoff on the debt limit brought the government within days of defaulting on its debt, resulting in a credit downgrade. At the time, the date of default was nebulous.

That year, a policy researcher at the Bipartisan Policy Center, Shai Akabas, coined the X-Date. The X-Date is the last day the US Government can meet its obligations. The day after it will default.

This time, the X-Date is projected to be June 1 by the Treasury. And, the bond market shows signs of worry. 1 Month T- Bills are trading 100 basis points higher than a week ago.

A government default could have a serious impact on insurers, which hold around 3% of the domestic debt holdings.

This situation demonstrates that the insurance industry does not exist in a bubble. We must be regularly vigilant about other adjacent industries like public service, health care, and real estate. To help you stay informed, we are hosting our next event on InsurTech Adjacencies in Palo Alto on May 16th.

Learn more and register: InsurTech Adjacencies

Upcoming InsurTech Community Events and Programs

Investing in InsurTech Adjacencies (Bay Area – Palo Alto) – May 16 | 5:30pm – 8:30pm
– Panels Include: Health & Wellness Investment Trends, Spotting PropTech opportunity in a declining market
More info and Join Registration

The Art of Distribution (NYC) – June 8 | 4:30pm – 8:00pm
– Event Highlights: Art Exhibition, Zen & the Art of Insurance, How to Distribute to Underserved Markets (proceeds go to non-profit orgs)
More Info and Join Registration

InsurTech Trails 2023 (Aspen) – June 20-21
-Founder and Investor Event – 2 days of outdoor activities, Programming and Startup Pitches
More Info and Join Registration

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 contact@insurtechny.com.

InsurTech East Coast Deals, Partner Events, and Open Roles

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

InsurTech News and Deals

The Guarantors ($35M, CIBC Innovation Banking): P&C: Rental coverage for personal and commercial lease guarantees and security deposits.

Marble ($4.2M, Distributed Ventures): Distribution: Policy management and distribution platform integrating loyalty program with a digital wallet and policy comparison.

Novidea ($50M, Battery Ventures): AMS: End to end agency management system using  cloud-native, data-driven technology to manage customer and policy data.

Partner Events and Programs

Israeli Wine Tasting and InsurTech (June 6)
Insurtech Insights (June 7-8)
OnRamp Insurance Conference (June 21-22)
Surplus Lines Insurance for InsurTechs Webinar (June 28)
Reuters Future of Insurance USA (June 27-28)
InsurTech Leaders Summit (Sept 20-21)
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

Enterprise Ireland – Senior Market Advisor
TIAA – Director, FW Solutions
Verisk – Actuarial Associate

See more information and apply via our blog: https://www.insurtechny.com/jobs

Looking to become an MGA?

We open applications for our MGA Lab, a program to help startups become MGAs, in about 2 months. If you want to find out if the program is a fit for you, please reach out to contact@insurtechny.com.

Subscribe to receive the InsurTech NY Newsletter monthly