Startupbootcamp InsurTech brings insurance industry together to celebrate end of third accelerator program

Startupbootcamp InsurTech yesterday celebrated the end of its third annual program in front of an audience of 500+ insurance industry experts, investors and entrepreneurs, hosted at 8 Northumberland Avenue in central London

The 10 startups that took to the stage showcased technologies applicable to the insurance industry, with propositions ranging cyber security, digital health, risk prediction and prevention, customer engagement, the sharing economy, and beyond.

During the program, our startups have created impact, establishing pilots and partnerships with leading names in insurance, including our program partners, as well as companies relevant to their industries:

  • CyStellar, a cloud-based big-data analytics platform that improves data driven decision making, is developing several pilots with a major global reinsurer; and has secured key agreements with satellite data providers;
  • Deemly, a reputation and social verification software platform, has increased its user base by 29%, and has signed partnership agreements with two InsurTech businesses focused on the sharing economy;
  • Flowenum, an incident prediction and prevention platform for commercial real estate owners and insurers, is working with a leading multi-line insurer to implement a predictive maintenance model for a UK-based clients;
  • ForestCar, a sharing economy platform that offers car owners free airport parking in exchange for renting out their vehicles while they’re away, has partnered with leading telematics company Trak Global to reduce risk; and has agreed a pilot with one of the biggest national parking operators in the UK to launch ForestCar later in 2018;
  • PicUP, an AI-based visualization, optimization and personalization platform for phone calls, is in advanced talks with 11 leading European banks and insurers; is in discussions about integration with one of the world’s largest tech companies; and is finalizing pilot discussions with a leading pan-African insurer and a major direct European insurer;
  • Polywizz, an AI powered platform that analyzes a client’s entire insurance portfolio to provide potential cross-sell opportunities, is working with AIG in Israel to integrate the platform across a number of business units;
  • vDexi, a Vehicle Data Exchange platform designed to enable vehicle manufacturers to provide standardized connected vehicle data to a diverse range of data consumers, is in advanced discussions with a large US insurer and their tech provider to give access to OEMs, and is now supported by the European Automobile Manufacturers Association;
  • vHealth Lab, an AI-powered platform that supports cardiovascular patients to better manage their health, is engaged in pilot discussions with a leading life insurer; has partnered with ITH telemedicine center in Spain to provide AI services & access ECG data; and has joined the Microsoft Partner Network, to develop cloud-based AI solutions;
  • Zasti, an AI-technology platform that helps insurance companies and their clients predict risks, is working with four insurers in commercial property and aviation insurance; is expanding into marine insurance; and has joined the Microsoft Partner Network, to develop edge-based AI solutions;
  • Zeguro, cyber insurance provider and virtual cybersecurity officer for small to mid-sized enterprises, has signed a partnership with Hartford Steam Boiler part of Munich Re, to underwrite, and offer comprehensive and customized cyber insurance, across all 50 US states.

Tshidi Hagan, Program Director, said: “It’s been fantastic to witness the growth of the startups over the last few months, and see the progress that they have made. As InsurTech matures, there is a growing demand to engage startups more meaningfully and we have witnessed this first hand during the program, welcoming partners, investors and mentors from around the world.”

Over the last three years, Startupbootcamp has accelerated more than 50 startups relevant to InsurTech, who have achieved 300+ pilots and partnerships, and raised a total funding of more than €48 million.

Sabine VanderLinden, CEO of Startupbootcamp InsurTech, said: “This year, we have seen great talent join us from around the world, and the startups on stage in London yesterday should be immensely pleased with their achievements so far. We look forward to continuing to work with them closely after the program.

We are extremely proud of the impact our startups have made and the success stories we hear every day from the startups that have been through our program, since we launched in 2015. After three years of engagement through the InsurTech accelerator program, our partners have matured. This is the reason why we are launching our Colab program for InsurTech.”

Colab is an innovation program designed for fast-evolving markets. It provides established industry players early access to relevant growth stage companies. Through a theme-based approach, the co-creation lab equips corporates in markets, like London and New York, with the capability and experience to create engagement and solve real business problems. Colab runs in waves throughout the year with each cycle targeting a different industry theme. This allows the partners and growth companies to tackle specific industry problems of most importance to them.

More details will be announced shortly. For more information on Colab and to get involved, sign up here.

The INSURTECH Book: The Insurance Technology Handbook for Investors, Entrepreneurs and FinTech Visionaries, is a ground-breaking guide to the disruptions, innovations and opportunities that technology affords the insurance sector. Co-authored by Startupbootcamp InsurTech CEO Sabine VanderLinden, pre-order your copy from Amazon now. The INSURTECH Book has already been listed on Amazon’s Bestseller List.

Author: Yash Hirani

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