What’s the difference between a startup and a startup carrier?

Simply put: distribution.

Many people remark on the rapid growth of the InsurTech used-to-be Unicorns. And, they attribute that growth to being able to hack direct-to-consumer digital distribution.

However, the real story is the untold story of startup carriers that have grown responsibly.

Palomar – Started in 2014, hit $251M in GWP in first year public (2019) at a 91% combine ratio
Transverse Ins. – Founded in 2019, acquired by MS&AD for an estimated $400M
Convex Ins. – Founded in 2019 by Steven Catlin, reached $2.1B in GWP in 2022

These startup carriers took a different approach. They leveraged long-term relationships from industry veterans like Steven Catlin and Erik Matson to jumpstart new brands optimizing traditional broker distribution.

Curious how you can combine lessons from both startup and legacy carriers / distributors? Then join us on August 25 in NYC at the Digital Distribution program.

Learn more at: https://digitaldistributor.eventbrite.com

ITC Vegas: Sep 20-23 + Our Happy Hour

Have you picked up your tickets for ITC Vegas?
If not, you can learn more and access discounted registration here.

Also, InsurTech NY is teaming up with The Financial Revolutionist to host a curated, invite-only happy hour on Sep 21. (Note: This is NOT an official ITC Vegas event). Carriers, brokers and investors can request invitations below:

Blue Bash Happy Hour Request

Upcoming InsurTech Community Events and Programs

The Digital Distributor
August 25 | 4:30pm – 8:00pm | NYC
– Speakers include: Insuritas CEO, SVP at Marsh, and Head of Growth Offerings at Travelers

Blues Bash Happy Hour Vegas
Sept 21 | 6:00pm – 9:00pm PT | Las Vegas
– Invitation Only Event

Underwriting Data: What Matters?
Nov 15 | 4:30pm – 8:00pm | NYC
-Panels discussing future of underwriting tables and new data

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

Sponsored Content (By Amazon)

Gain insights from open finance experts

Open finance enables secure, consent-based sharing of and access to financial capabilities, data, and account information. Listen to Jacob Morgan at Forrester, Shaheen Kanda at Amazon Web Services, Christian Ball at Yapily, and Betty DeVita at FinConecta as they talk about open finance trends, perspectives, and real-world success stories. Register here

InsurTech NY Sponsors

Thank you to our sponsors of our August event.

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

InsurTech News and Deals

Bento ($8.1M, Schooner Capital): Health: End-to-end dental coverage platform and provider for the group benefits market.

Reserv ($8M, Altai Ventures): Claims: Digital TPA for Property & Casualty adjusters providing real-time metrics and AI-driven solutions to complex claims.

Koffie Ins ($11M, Anthemis Group): P&C: Digital MGA focused on the trucking industry using machine learning and telematics for risk reduction and accelerated underwriting.

Ranger ($5.25M, Lerer Hippeau Ventures): P&C: Agent-focused platform designed to support accuracy in homeowner policy valuation and cross sales.

Partner Events and Programs

The Digital Insurer – World’s Digital Insurance Awards (Due Sept 1): Now accepting applications from Americas for Insurtech Innovation.

ITC Vegas (Sept 20-22): Use 200ITC787 for 200-off
The World’s Largest Gathering of Insurance Leaders and Innovators

Global Insurance Accelerator (Applications Close Sept 23)
Early stage companies are provided seed funding, networking with our mentors, 100-days of ongoing support and a final presentation to a large audience of insurance professionals.

DFS Exhcange – NY Department of Financial Services newly-launched engagement platform to foster the growth of responsible innovation in financial services in New York.

Columbia University Actuarial Science Career Fair (Employer Registration) (Sept 28)

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

CSAA Insurance Group – Sr. Associate – Venture Capital

InsurTech NY – Copywriter

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.

Recent press on Digital MGAs has soured the mood for Venture Capitalists outside of the industry. Everyone is concerned about how the public markets will impact earlier stage funding rounds and the viability of the next crop of Digital MGAs. But the full story remains unwritten.

“It is not in the stars to hold our destiny but in ourselves.”
― William Shakespeare

So we are launching two programs in July to support InsurTechs.

1. Growth Stage Accelerator Program

The InsurTech NY Accelerator is back for the 3rd cohort. Our corporate member driven accelerator is supported by nine insurance carriers eager to work with growth stage startups. The program is designed to help Seed to Series B companies find pilots and partnerships, acquire talent, and access investors.

Results speak for themselves. Over 50% of past cohort members have received follow-on funding for a total of $364 million post program, originated 400+ prospective partner meetings, and reached 4 exits – IXN, Breathe Life, Tower IQ, and Verikai.

Learn more and apply here: www.insurtechny.com/accelerator

2. Digital MGA Lab

Designed from the ground up solely to support the next generation of digital MGAs, we are launching a stage agnostic program focused on helping with actuarial model, finding insurance capacity, and accessing retail distribution.

The program is backed by 20+ fronting carriers, program administrators, and reinsurers including Accelerant, Ambac, AmTrust, Greenlight Re, Hanover Re, Markel, Munich Re, Tokio Marine, Transverse, and more…

Learn more and apply here: www.insurtechfund.com/mga-lab

Upcoming InsurTech Community Events and Programs

InsurTech Rapids: Founders and Investors Forum
July 21-22 | 2 Days | Santa Fe, NM
– Investors Attending: Allstate Ventures, Ambrosia Ventures, Blue9 Capital, NM Angels, City Different Ventures, Sun Mountain Capital, Dangerous Ventures, Munich Re Ventures, and more…

The Digital Distributor
August 25 | 5:30pm – 8:00pm | NYC
– Topics include Sales Productivity, Digital MGAs, and Embedded Insurance

InsurTech NY Growth Stage Accelerator
Apply by July 29 | Hybrid Program for Seed to Series B

MGA Lab by InsurTech Fund
Apply by July 27 | Dedicated program for Digital MGAs

Sponsored Content (By Vymo)

Insurance Industry leader perspectives hot off the press! 

InsurTech NY Sponsors

Thank you to our sponsors of our August event.

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

InsurTech East Coast Deals, Opportunities, and Partner Events

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

InsurTech News and Deals

Ledger Investing (75M, WestCap): Risk Capital: Broker matching traditional and reinsurance risk securitizations with institutional investors.

Openly (75M, Advance Venture Partners): P&C: Algorithm-based distribution platform streamlining underwriting for premium homeowners coverage.

Pawlicy Advisor (12M, StepStone Group): Pet Coverage: Brokerage using a breed-specific data to quote costs and coverage for pets.

Partner Events and Programs

The Digital Insurer – World’s Digital Insurance Awards (Due Sept 1): Now accepting applications from Americas for Insurtech Innovation.

ITC Vegas (Sept 20-22): Use 200ITC787 for 200-off

Reuters Connected Claims (Nov 2-4): Nov 2-4 in Chicago

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

Jobs at carrier/broker innovation and venture teams

CSAA Insurance Group – Sr. Associate – Venture Capital

Equal Ventures – InsurTech/FinTech Associate

Global Insurance Accelerator – Program Manager

Starr Insurance Companies – Management Consulting Associate

Voom Insurance – Head of Sales & Customer Success

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

Talk of the town has been that the dynamics between venture capital and founders is changing. Gone are the days of grow premium at all costs. Now that actuarial science has caught up with high flying InsurTech IPOs, everyone is uncertain.

Will startups be able to hit their milestones? Will VCs have enough capital to fund the next crop of InsurTechs? Who is the new benchmark for growth, if it is not Lemonade?

Policygenius raised its Series E, then immediately followed it with layoffs. Next has raised nearly $1B to stay out of the public market. And, Coalition, another Series E company, has been out of the news.

In contrast, Branch just raised $147M at a $1B valuation. This was possible because of its recent accomplishments:

> It sustained 1300% YoY Premium growth
> It modeled how embedded distribution can work with partnerships like Homepoint Mortgage
> It took legitimate action for social causes by launching a nonprofit, SafetyNest

Branch gives optimism that with disciplined growth and realistic path to profitable premiums that founders will still be able to raise capital. If Branch can do it, the InsurTech readers of this newsletter can certainly hit their investor milestones.

Upcoming InsurTech Community Events and Programs

AI & Automation
June 21 | 5:30pm – 8:00pm | NYC
– Speakers include: Chief Pricing Officer, Legal & General and Chief Data Scientist at Prudential

InsurTech Rapids: Founders and Investors Forum
July 21-22 | 2 Days | Santa Fe, NM
– Investor + Startup tracks on: board structure, financial forecasting, and war stories

The Digital Distributor
August 25 | 5:30pm – 8:00pm | NY
– Topics include Sales Productivity, Digital MGAs, and Embedded Insurance

InsurTech NY Sponsors

Thank you to our sponsors of our June event.

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

Educate those New to Insurance with Primerli

Do you have team members or partners that could use a crash course on the insurance industry?

Primerli offers a streamlined and engaging primer that helps professionals understand the basics of the industry in just one hour. The primer covers key aspects of the industry, including: Insurance products, value chain, key players in the ecosystem, fundamental economics of the insurance business, how insurance companies are organized, and key industry trends.
Learn more about the Insurance Primer at: Primerli

InsurTech East Coast Deals, Opportunities, and Partner Events

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

InsurTech News and Deals

Branch ($147M, Weatherford Capital): P&C: Digital distribution using API and embedded options to reduce transactional friction in the purchase experience.

Overalls ($4.6M , RPM Ventures): Life: Supplemental voluntary benefit distribution platform embedding financial guidance and planning into the user experience.

Nava ($40M, Thrive Capital): Health: Online benefits brokerage focused on reducing costs and implementation for smaller employers without dedicated HR depts.

Partner Events and Programs

Onramp Insurance Conference (June 15)

The Digital Insurer – World’s Digital Insurance Awards (Due Sept 1): Now accepting applications from Americas for Insurtech Innovation.

Insurtech Connect (Sept 20-22)

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

Jobs at carrier/broker innovation and venture teams

CSAA Insurance Group – Sr. Associate – Venture Capital

Equal Ventures – InsurTech/FinTech Associate

Global Insurance Accelerator – Program Manager

New York Dept of Financial Services – Deputy Superintendent for Property Bureau, Assistant Deputy Superintendent for Property Bureau

TIAA – Solutions Strategy Senior Analyst

See more information and apply via our blog: https://www.insurtechny.com/jobs-june-2022/

For years, the promise of AI and intelligent automation solutions in Insurance has been just that – a promise with only select practical, material applications to point to. There were many interesting early applications, though some felt a bit like the “Not a Hot Dog” scene from Silicon Valley. Great concept, but limiting in how valuable it could really be.

That has started to change lately. We are seeing far more applications that have real impact on results, whether in decisioning in underwriting and claims, transforming and digitizing the customer experience, greatly increasing the percent of work that can be straight through processed, and more.

In NYC alone, there has been $431 million invested in InsurTechs with AI focus with solutions across the valuechain Planck (commercial P&C), Nayya (benefits), Accern (no-code NLP), and Hyperscience (intelligent automation). These deals show real money is behind making the initial promises more of reality, and new possibilities are being opened up.

See what is happening firsthand, join us in NYC on June 21st to look at how AI is moving from being a hammer in search of a nail to something that is addressing genuine needs of the industry.

Event Info + Registration: https://aiautomation.eventbrite.com

Use AI to Assess your Personality

AI is not just for robots, it is also for humans to understand behavior and personality clusters. BestFit, our accelerator alumni will be presenting in June and has built a personality analysis platform that you can try yourself. Curious what personality cluster you fit into, find out today.

Take the BestFit Personality Assessment: BestFit Assessment

There is no cost to participate, results are immediately available.

The Open Finance Impact on Financial Services: A Panel Discussion

Join this webinar to hear a panel of open finance experts discuss trends, perspectives, and real-world open finance success stories. Register Here

Upcoming InsurTech Community Events and Programs

AI & Automation
June 21 | 5:30pm – 8:00pm | NYC
– Speakers include: Chief Product Officer, Legal & General, and Chief Data Scientist at Prudential

InsurTech Rapids: Founders and Investors Forum
Jul 21-22 | 2 Days | Santa Fe, NM
– Investor + Startup tracks on: board structure, financial forecasting, and war stories

The Digital Distributor
Aug 25 | 5:30pm – 8:00pm | NYC
– Topics include Sales Productivity and Embedded Options

InsurTech NY Sponsors

Thank you to our sponsors of our June 21 event.

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

InsurTech East Coast Deals, Opportunities, and Partner Events

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

InsurTech News and Deals

The Guarantors ($50M, Portage Ventures): P&C: Rental coverage for personal and commercial lease guarantees and security deposits.

Evolution IQ ($21M, Brewer Lane Ventures): Casualty & Liability: Predictive guidance claims platform using AI and data to lower claims costs and processing time.

EMMA ($6M, Luge Capital): Life: Family & household centric online brokerage for life products and cross-line referrals in the Canadian market.

Partner Events and Programs

Insurtech Denver: Women in Insurance (May 25): https://www.insurtechdenver.org/events

InsurTech Insights Americas (May 25-26): Learn more and use “InsurTechNY30” for reduced admission at: https://insurtechinsights.com/america/

The Future of Ins. (June 14-15): Learn more at: https://events.reutersevents.com/

Onramp Insurance Conference (June 15): Use code (INSURTECHNY22) for 100-off: Register Here

Insurtech Connect (Sept 20-22): Use code (200ITC787) for 200-off: Register Here

Details and registration for these events at: https://www.insurtechny.com/upcoming-insurtech-conferences/

Jobs at carrier/broker innovation and venture teams

Pacific Life – Sr. Digital Marketing Specialist

Nationwide – Innovation Product Manager (P&C)

See more information and apply via our blog: https://www.insurtechny.com/jobs-april-2022/

With InsurTech funding reaching a new record in 2021, $15.4B (CB Insights), the sources of investment have diversified. One of the most important source so far is corporate venture capital (CVC) from insurers. Carriers have been LPs in venture funds since the inception of venture, but now there are more than 40 active CVCs.

For an Insurance Carrier, corporate venture can provide more than just financial returns.

John Grogan, CIO at Northwestern Mutual, shared on the Future of Insurance podcast, “The real beauty of the venture investing work that we’ve done is that it gives us insights into these emerging trends . . . and it has opened the door to a whole host of strategic partnerships . . . .”

Curious to learn more about the latest trends in InsurTech Investment?

Hear from corporate venture units at: Northwestern Mutual, Nationwide, Avanta Ventures, MS&AD, Prudential, and SiriusPoint.

Join us in Palo Alto, CA on May 12 for our Summit on Investing in InsurTech.

Event Info + Registration: https://investingininsurtech.eventbrite.com

Announcing InsurTech Rapids: Founders & Investors Forum

After the success of InsurTech Slopes, we have partnered with InsurTech Hartford for InsurTech Rapids on Jul 21-22. The program is limited to 30 founders and investors that will gather in Santa Fe, New Mexico for a day of educational content and a day of networking on the Rio Grande in Whitewater Rapids.

Previous investors attending included: Anthemis, MunichRe Ventures, AmFam Ventures, SiriusPoint Ventures, QBE Ventures, FF VC, Manchester Story, Distributed Ventures, and more.

Learn more about InsurTech Rapids: https://rapids22.eventbrite.com

Upcoming InsurTech Community Events and Programs

Insurtech SF: Investing in Insurtech
May 12 | 5:30pm – 8:30pm | San Francisco
-Panels Include: Attracting Investors to Pre-Seed/Seed Deals & Being a Strategic to a VC

AI & Automation
June 21 | 5:30pm – 8:00pm | NYC
– Speakers include: Chief Product Officer, Legal & General and Chief Data Scientist at Prudential

InsurTech Rapids: Founders and Investors Forum
Jul 21-22 | 2 Days | Santa Fe, NM
– Investor + Startup tracks on: board structure, financial forecasting, and war stories

InsurTech NY Sponsors

Thank you to our sponsors of our upcoming May and June events.

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

InsurTech East Coast Deals, Opportunities, and Partner Events

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

InsurTech News and Deals

Covr Financial Technologies ($15M, Stone Point Ventures): Life/Health: AI-driven white label distribution platform for the financial industry

Afficiency ($7M, IA Capital): Life: API platform connecting digital distributors to carriers for a completely digital policy cycle.

Policygenius ($125M, KKR): Life/P&C: Digital broker using API and live agents to provide guidance and quotes to consumers within a single application.

Flume Health ($30M, Optum Ventures): Health: API-driven health platform creating a digital process for managing TPAs.

Partner Events and Programs

Insurtech India Annual Event (April 23): Learn more at: IIA Annual Event

InsurTech Hartford Symposium (April 26-27): Learn more at: insurtechhartfordsymposium.com/

AI and Innovative Tech (April 26-27): Learn more at: https://events.reutersevents.com/

InsurTech Insights Americas (May 25-26): Learn more and use “InsurTechNY30” for reduced admission at: https://insurtechinsights.com/america/

The Future of Ins. (June 14-15): Learn more at: https://events.reutersevents.com/

Onramp Insurance Conference (June 15): Use code (INSURTECHNY22) for $100 off: Register Here

Insurtech Connect (Sept 20-22): Use code (200ITC787) for $200 off: Register Here

Jobs at carrier/broker innovation and venture teams

Pacific Life – Sr. Digital Marketing Specialist

Nationwide – Innovation Product Manager (P&C)

See more information and apply via our blog: https://www.insurtechny.com/jobs-april-2022/

On March 7th we asked a simple question: should insurers prioritize customer-first or digital-first initiatives?

650+ conference attendees joined us full day to discuss.

Here is what our keynote speaker, Tom Troy, had to say:

“I would have to pick customer; I have worked at companies that built either a great product or a great concept before and it didn’t work [or] it didn’t sell. Because they forgot to ask if any customer wanted it. So I think you’ve got to understand the customer first . . . And if you focus on the customer, first, . . . [you realize] the need to build our strong digital capabilities for your future… “

A special thank-you to everyone who joined us in NYC.

See our photo recap on Linkedin: Recap

Global InsurTech Competition Champions

121 InsurTechs applied from more than 20 countries. The top 11 finalists presented at our Spring Conference. Our carrier / broker judges and angel investor judges deliberated and selected two champions:

Carrier and Broker Choice: Healthee (Presented by Guy Benjamin)

Angel Investor Choice: OneClickEstimate (Presented by Garrett Kurtt)

Upcoming InsurTech Community Events and Programs

Insurtech SF: Investing in Insurtech
May 12 | 5:30pm – 8:30pm | San Francisco
-Panels Include: Attracting Investors to Pre-Seed/Seed Deals & Being a Strategic to a VC

AI & Automation
June 21 | 5:30pm – 8:00pm | NYC
– Panels Include: AI + Core and Longevity of AI vs Expert Networks

Sponsored Content (By AWS Marketplace)

With the rise of the insurtech era, insurers face pressures to innovate to meet rapidly changing customer expectations. Join us to learn how AI, data, and no-code solutions enable innovation across the value chain. Hear insurtech solution leaders and Amazon Web Services talk about trends, perspectives, and success stories. Register Now

InsurTech NY Sponsors

Thank you to our sponsors of our upcoming May and June events.

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

InsurTech East Coast Deals, Opportunities, and Partner Events

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

InsurTech News and Deals

Plum Life (5.3M, ManchesterStory): Life: Digital platform for agents to attain company appointment and issue/manage policy production.

Rialtic (28M, F-Prime Capital): Health: Claims payment intermediary focused on reducing redundancy in the payout process.

Kin (82M, QED Growth): Personal P&C: Startup home ins. carrier built for the modern world.

Stable (3.3M, MLTPLY): Commercial P&C: Usage-based vehicle coverage platform for the rideshare, carshare, and independent delivery driver industry to cover off-platform usage.

Partner Events and Programs

InsurTech Hartford Symposium (April 26-27): Learn more at: insurtechhartfordsymposium.com/

AI and Innovative Tech (April 26-27): Learn more at: https://events.reutersevents.com/

InsurTech Insights Americas (May 25-26): Learn more and use “InsurTechNY30” for reduced admission at: https://insurtechinsights.com/america/

The Future of Ins. (June 14-15): Learn more at: https://events.reutersevents.com/

Best Business Minds Webcast (Mar 18): Eventbrite Page

Jobs at carrier/broker innovation and venture teams

Avanta Ventures – Head of Studios – Principal

Avanta Ventures – Senior Associate – Venture Capital

ManchesterStory – Marketing/Communications – PT, Contract, Small Agency

Nationwide – Innovation Product Manager (P&C)

See more information and apply via our blog: https://www.insurtechny.com/jobs-march-2022/

Everyone always says our industry is a relationship business, and that means building a community is critical to your growth individually and for your business. But what does community really mean?

For InsurTech NY, we think about community as the networks we build together, with colleagues and peers across and around the industry, to support each other, learn from each other, and grow. Building that kind of community doesn’t happen by accident, and it doesn’t happen simply by attending events.

Community to us is about the in-between moments that happen at conferences where peers network and deeper conversations happen over dinner.

That’s why we have been putting together many different opportunities to engage and build community together. Some recent examples include (1) a women leaders dinner we co-hosted in San Francisco in December; (2) InsurTech Slopes in Utah with InsurTech Hartford; (3) a dinner we are helping CT Innovation coordinate for CT leaders attending our Spring Conference.

What does community mean to you?
We want to know what community means to you. Take a few seconds and vote on our LinkedIn Poll to share your favorite industry-specific community activity!

LinkedIn Poll

Less than 2 Weeks to InsurTech Spring Conference

We will be hosting more than 400 ins. leaders in NYC on March 7th. Many have asked who will be there. Below is a shortlist of the carriers and brokers that will be in attendance.

Accelerant, AF Group, Alliant, AWAC, American European Ins., American Family, AmTrust, Berkley Environmental, BerkleyRe, Clements, CNA, CNO, CSAA, DLI, Employers, Gallagher, Graham Co, Guy Carpenter, Hippo, HIscox, HSB, Lincoln, Lloyds, Lockton, Markel, Marsh, MunichRe, Mutual of Omaha, Nationwide, Newfront, Next, PacLife, Philadelphia Ins., Prudential, Reliance Standard, SiriusPoint, Sompo, Starr, State Auto, Swiss Re, The Hartford, Tokio Marine, Transverse, Travelers, Unum, and USAA.

Networking on Brella will start on March 1st.

See the Entire Agenda: https://digitalorcustomerfirst.eventbrite.com

Upcoming InsurTech Community Events and Programs

Digital First or Customer First – Insurtech NY Spring Conference
Mar 7 | 8:00AM – 6:30PM | NYC Marriott Marquis (Broadway)
– 400+ influencers, 40+ speakers, 10 startup presentations, + expo hall
– Featuring: CEO of CSAA, Hiscox SVP of Strategy, QBE Chief Actuary, Munich Re Head of Data Hunting, Transverse CEO, Travelers Head of Growth offerings, and more.

Insurtech SF: Investing in Insurtech
May 12 | 5:30pm – 8:30pm | Plug & Play Tech Center (San Francisco)
-Panels Include: Attracting Investors to Pre-Seed/Seed Deals & Being a Strategic to a VC

AI & Automation
June 21 | 5:30pm – 8:00pm | Barclays Rise (23rd St)
– Panels Include: AI + Core and Longevity of AI vs Expert Networks

InsurTech NY Sponsors

Thank you to our sponsors.

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

InsurTech East Coast Deals, Opportunities, and Partner Events

Discover a curated mix of January InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast: https://insurtechinsights.com/america/

InsurTech News and Deals

Ascend (30M, Index Ventures): Payments: API driven payment platform introducing BNPL to the ins. market.

Safekeep (Acquisition, CCC Intelligent Solutions) P&C SaaS: AI driven subrogation management platform.

Sayata (35M, Hanaco Ventures) Small Commercial P&C: Platform to streamline the bind-issue process for SMB ins.

Partner Events and Programs

InsurTech Hartford Symposium (April 26-27): Learn more at: insurtechhartfordsymposium.com/

AI and Innovative Tech (April 26-27): Learn more at: https://events.reutersevents.com/

InsurTech Insights Americas (May 25-26): Learn more at and use “InsurTechNY30” for reduced admission: https://insurtechinsights.com/america/

The Future of Ins. (June 14-15): Learn more at: https://events.reutersevents.com/

Jobs at carrier/broker innovation and venture teams

Arch Capital Group – AVP, Digital Partners

Nationwide – Consultant, Innovation Product Manager

Transverse – Program Manager

See more information and apply via our blog: https://www.insurtechny.com/jobs-feb-2022/

2021 InsurTech funding grew with a vengeance over 2020 levels, with more funding raised by Q2 than in the full prior year. One reading the data might assume finding capital got easier than ever.

But digging deeper into the numbers, we see that a large proportion of that funding was in later-stage rounds for larger players. These mega-deals of over 100M made up 2/3 of the funding in the first half of the year alone, meaning early-stage funding may not be as buoyant as the topline figure suggests. And without a healthy early-stage pipeline, we will not have those late-stage companies to fund in the future.

That’s why accelerators and early-stage-focused programs are so critical to keeping the energy and momentum going in InsurTech, and why InsurTech NY is hosting our third annual Global InsurTech Competition with a specific focus on early-stage companies.

If you’re an early-stage InsurTech, you can compete for awards totaling 200K in value and share your idea with over 400 leading investors, influencers and advisors in the InsurTech space. If you are not an InsurTech, you can root for your favorite founder teams.

Global InsurTech Competition – Early Stage
Applications close Jan 28: https://www.insurtechny.com/competition/

InsurTech Carriers the Next Dotcom? Find out at InsurTech Spring Conference

Digital First InsurTech Carriers are struggling. Root is down from 20 a share to less than 2. Lemonade, once considered a meme stock, is below its public offering. With the carnage in the public markets for InsurTech Carriers, founders and legacy carrier leaders need to do some soul searching.

Is an exclusively digital first agenda the right way to build an insurer of the future?

Hear from the CEO of CSAA, Tom Troy, and QBE CTO, Kean Pandit, how insurers and InsurTechs should balance a customer first and digital first agenda on March 7th in NYC.

See the Entire Agenda: https://digitalorcustomerfirst.eventbrite.com

Upcoming InsurTech Community Events and Programs

Digital First or Customer First – Insurtech NY Spring Conference [Early-Bird ends 1/31]
Mar 7 | 8:00AM – 6:30PM | NYC Marriott Marquis (Broadway)
– 400+ influencers, 40+ speakers, 10 startup presentations, + expo hall
– Featuring: CEO of CSAA, Hiscox SVP of Strategy, QBE Chief Actuary, Munich Re Head of Data Hunting, Transverse CEO, Travelers Head of Growth offerings, and more.

InsurTech Slopes: InsurTech Investor & Founder Forum [Apply on Waitlist]
Feb 17-18 | 2 Days | 1 Day Content + 1 Day of Snow Sports | Park City, UT
– Partners attending from: QBE Ventures, SiriusPoint Ventures, FF VC, Anthemis, Cameron VC, Altamont Capital, and more.
– Attendance restricted to 10 founders and 10 investors

InsurTech NY Sponsors

Thank you to our sponsors of our June event.

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

InsurTech East Coast Deals, Opportunities, and Partner Events

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

InsurTech News and Deals

Sayata ($35M, Pitango Growth) Employee Benefits: Marketplace tool for brokers to search for plans for small and medium businesses and create custom marketing materials.

Bennie ($33M, Silverton Partners) Employee Benefits: AI platform automating broker process, policy maintenance, and supplemental products.

Belong Health ($40M, New Enterprise Associates) Health: Data and AI driven platform focused on streamlining Medicare/Medicaid regional plan coverage product options.

Partner Events and Programs

InsurTech Hartford Symposium (April 26-27): Learn more at: insurtechhartfordsymposium.com/

Reuters AI and Automation (April 26-27): Learn more at: https://events.reutersevents.com/

InsurTech Insights Americas (May 25-26): Learn more at and use “InsurTechNY30” for reduced admission: https://insurtechinsights.com/america/

Jobs at carrier/broker innovation and venture teams

Arch Capital Group – AVP, Digital Partners

Nationwide – Intern – Innovation and Digital Strategy

See more information and apply via our blog: https://www.insurtechny.com/jobs-jan-2022/

Insurers must make a choice.

They can focus on optimizing the front-end of their business creating a seamless customer experience, building customer-centric products, and helping their channel serve the customer.

Or, they can rebuild the core, strengthen APIs, implement artificial intelligence and machine learning in underwriting, and replace manual processes with robotic process automation (RPA).

There is simply not enough talent, time, or financial resources to do both simultaneously. So, that begs the question: should insurers focus on becoming customer-first or becoming digital-first?

At InsurTech NY, we seek to answer that question with senior leaders from Hiscox, Gallagher, Legal and General, Transverse, Travelers, MunichRe, QBE, and leading InsurTech founders.

Join us in that discussion on March 7, 2022, along with 400+ insurance influencers at the Marriott Marquis in NYC.

Customer First or Digital First – InsurTech Spring Conference
Register Today: https://digitalorcustomerfirst.eventbrite.com

What you Missed in San Francisco: December Recap

On December 7, more than 75 carriers, brokers, InsurTechs, and investors joined together for the reboot of InsurTech SF. We heard from the Hippo CMO, Rhino Co-founder, Boost CEO, Prudential VP of Affinity, Nationwide Senior Counsel, and six other speakers on the State of Embedded Insurance. Here are some of the highlights:

“What embedded insurance to me is expanding access to our products to other people . . . usually you could just buy insurance from an advisor, but that is not going to work for everyone . . . and for us, as an industry, to bring protection to those who need it most, embedded insurance is [the answer].”
– Cade Cherry, AVP Digital Distribution, Pacific Life

“At Anthemis, we have been investing under the embedded finance thesis for a decade . . . we look at financial services as the central nervous system of our society . . . that has to be accessible and healthy for society to thrive.”
– Kate Sampson, Managing Director, Anthemis

“In the early days, we went in with the assumption that no one likes to shop for insurance . . . [so] we wanted to take the burden off the customer. . . “
– Andrea Collins, CMO, Hippo

The full video recording will be posted on our Youtube channel next week. Subscribe to the youtube channel so you don’t miss it when it is posted: InsurTech NY Youtube channel

Upcoming InsurTech Community Events and Programs

Digital First or Customer First – Insurtech NY Spring Conference [Early-Bird until Dec 31]
Mar 7 | 8:00AM – 6:30PM | New York Marriott Marquis (Broadway)
– 400+ insurance influencers, 40+ speakers, 10 startup presentation, + expo hall
– Featuring: Hiscox SVP of Strategy, QBE Chief Actuary, Munich Re Head of Data Hunting, Transverse Insurance CEO, Travelers Head of Growth offerings, and more.

InsurTech Slopes: InsurTech Investor & Founder Forum [Only 20 spots]
Feb 17-18 | 2 Days | 1 Day Content + 1 Day of Snow Sports | Park City, UT
– Highlighted investors participating: Anthemis, Manchester Story, PruVen Capital, Park City Angels
– Attendance limited to 10 founders and 10 investors 

InsurTech NY Sponsors

Thank you to our sponsors: AdvantageGo, Appian, Ascend, Boost, Eversheds Sutherland, EY, Goodwin, ICEYE, InspectConnect, Kiteworks, Locke Lord, Neptune Flood, Safekeep, Thinktum, and Vymo. If you are interested in sponsoring, send us a note at contact@insurtechny.com.

InsurTech East Coast Deals, Opportunities, and Partner Events

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

InsurTech News and Deals

InsurMedix ($65M, A-Labs Advisory) Health: AI foundation platform providing alternative comprehensive coverage and servicing for fertility treatment, CAM, and Outbound Medical Tourism.

The Demex Group ($9M, Anthemis Group) Business Risk: Blockchain-enabled modeling technology to give businesses risk analysis on current climate-change related operation interruption.

Nirvana Health ($7.5M, Inspired Capital) Health: Automation platform allowing independent mental health professionals to accept mainline insurance with streamlined claims and billing.

Partner Events and Programs

Networking Meet and Greet with Insurtech Israel (Nov 15): Register for event hosted by InsurTech Hartford here.

Ecosystems and Platforms (Dec 9): Register for event hosted by InsurTech Hartford here.

InsurTech Hartford Pitch Event (Feb 10): InsurTech Hartford is seeking startups for Pitch Night VIII. Startups interested to present in-person can contact stacey.brown@insurtechhartford.com.

Insurtech Munich H+ Digitial Health Programme (Feb 2022): Insurtech Munich is seeking digital health startups looking to expand in the German market to be part of this collaborative program. Apply at: https://www.f6s.com/hdigitalhealth/apply

Open roles in carrier/broker innovation and venture teams

American Enterprise – Innovative Senior Associate

Avanta Ventures – Senior Associate – Venture Capital

Nationwide – Intern – Innovation and Digital Strategy

See more information and apply via our blog: https://www.insurtechny.com/jobs-dec-2021/

Be a Judge in our InsurTech Competition?

We are looking for active angel investors or individuals interested in startup investing to judge our competition. Each year we receive 100+ applications globally. If interested please message contact@insurtechny.com.

A hub is only as powerful as the spokes that support it.

When we first set out to build InsurTech NY, our vision was to fill the gap of an organic community for insurance innovation in the NYC Metro area. As we built the community, we realized the power of our community was based on our ability to connect the global insurance ecosystem and NYC was just a place for that to happen.

Now, we are excited to announce the next community we plan to support is San Francisco. The San Francisco Bay Area is known for InsurTechs including Next Insurance, Hippo, States Title, Trov, Ethos, and more. The San Francisco market is also home to more than 30 venture capitalists funding InsurTechs.

By forging the NYC-SF InsurTech connection, we hope to be able to build a national platform of capital and carriers to support the next generation of InsurTechs.

Join us for our first restart of InsurTech SF on December 2nd, hosted by our founders in SF, Hanna Wu of Amplify and Hannah McQuaid of PruVen Capital. More events to come in 2022.

Future of Embedded Insurance

Learn more at: https://futureofembeddedinsurance.eventbrite.com

Save the Date: InsurTech Summit on March 7, 2022

Looking ahead to 2022, InsurTech NY will be hosting its annual full day Summit on March 7th. The theme will be Customer First or Digital First. 

Hear from over 40 insurance influencers on how to balance the drive to go fully digital with the need to be customer centric. Each topic during the summit will test assumptions from a digital-first or customer-first perspective. The program will also feature presentations from the top 10 finalists of the 2022 Global InsurTech Competition.

Our space is limited and we expect to sell out. Make sure you hold your spot by joining the pre-registration waitlist. 

Pre-register by: Register > Join Waitlist (orange button) > Enter your details

Join today at: https://digitalorcustomerfirst.eventbrite.com

Upcoming InsurTech Community Events and Programs

Future of Embedded Insurance
Dec 2 | 5:30PM – 8:30PM PST | San Francisco (50 California St)
-Featuring: CMO of Hippo, CSO of Ethos, and Co-founder of Rhino

Digital First or Customer First – Insurtech NY Spring Conference [Pre-registration list]
Mar 7 | 8:00AM – 6:30PM | New York Marriott Marquis (Broadway)
– Join our pre-registration list to hold your spot

InsurTech NY Sponsors

Thank you to our sponsors for supporting the community: AdvantageGo, Appian, Boost, Neptune Flood, EY, ICEYE, Inspect Connect, Locke Lord.

InsurTech East Coast Deals, Opportunities, and Partner Events

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

InsurTech News and Deals

Billy ($3.5M, MetaProp) Commercial: Construction industry insurtech focused on contractors ensuring subcontractors on specific projects are fully covered for liability and workers comp.

GetCovered.io ($7M, RET Ventures) Rental Insurance: Insurtech combining COI tracking and embedded policy issue and renewals for renters and smaller-scale properties.

Slide Insurance ($100M, Gries Investment Funds) P&C: AI and machine learning platform utilizing cached underwriting data to build custom homeowner and rental policies.

Partner Events

Ecosystems and Platforms (Dec 9): Register for an event hosted by InsurTech Hartford here.

Volunteer For An Event?

InsurTech NY is looking for volunteers who will receive complimentary access to our upcoming in-person events and networking opportunities in return for helping us with some logistics like registration check-in and ensuring the event runs smoothly. If you are interested, please send us a message at: contact@insurtechny.com.