The insurtech startup ecosystem continues to adapt to the coronavirus pandemic with virtual version of their collaboration programs and contests.
Des Moines' Global Insurance Accelerator, a Des Moines, Iowa-based business accelerator focused on fostering innovation in the insurance industry, has announced its seventh cohort will launch in a virtual environment on January 19, with seven companies working for 100 days. Meanwhile, InsurTech NY announced a less immersive competition for 10 early-stage startups, which will culminate in an award for the best in show at its March 2021 virtual conference.
InsurTech NY’s contestants will gain access to a prize pool of $200,000 in value, exposure to more than 10 investors and insurance leaders, and have the chance to present. Judges come from companies New York Angels, Park City Angels, Anthemis, Sure Ventures, Transverse, Nationwide, GreenlightRe, and Grange Insurance.
Itai Ben-Zaken, CEO of Agilius and winner of the 2020 early-stage competition, shared, "The InsurTech NY competition has been a tremendous opportunity for us to get many more people excited about our unique offering.”
Meanwhile, the GIA has announced its seven cohort members. Their 100-day virtual program will culminate at the Global Insurance Symposium, which may be an in-person event depending on how the pandemic evolves, according to the GIA. The companies are:
- Vaartani: An artificial intelligence risk management platform to help insurers sell on e-commerce marketplaces, such as Amazon and Shopify.
- Anodz: An enterprise intelligence platform for businesses.
- Jayde: Providing subscription-based coverage products for small business owners.
- Rainwalk: An API-driven, platform to help carriers expand into pet insurance.
- Reeske: A digital life insurance shopping platform.
- Sola: A supplemental insurance plan for homeowners that experience natural disasters such as tornadoes.
- Solar Insure: A provider of extended warranty and protection plans for homeowners who install residential solar energy systems.
“The startups selected as part of our 2021 cohort have solutions for all lines of business which, with time, dollars, and development, will help make the small commercial segment more accessible, allow insurers to launch pet insurance programs easily, transform the insurance purchasing experience, enable a faster response to catastrophic losses, and much, much more," says Nicole Gunderson, managing director of the GIA.
