HARTFORD INSURTECH HUB WRAPS UP THIRD AND FINAL ACCELERATOR PROGRAM
Hartford, 29th April, 2019 – Hartford InsurTech Hub, powered by Startupbootcamp, hosted its third Demo Day virtually Tuesday morning. 11 startups presented virtually in front of an audience of over 793 who joined remotely from 36 countries to virtually celebrate the achievements of the cohort. Many of the startups graduating from the cohort have already secured pilots or are in discussion with several leading insurance companies including the Hartford Insurtech Hub’s core partners: Aetna, Capgemini, Cigna, The Hartford, Travelers, USAA, and White Mountains.
The 11 startups showcased technologies that help amplify health, life, and property/casualty insurance, with propositions ranging from at home health tools, rideshare auto coverage, commercial lines safety and more. Gaining momentum from last year, this year’s theme “IMPACT” is especially relevant given that 3 of the startups are directly adapting to, and providing relief in this changing COVID-19 situation.
Each startup relocated to Hartford for a period of six weeks, completing the rest of the three month accelerator virtually. Eight of the startups are from the United States, while the remaining three hail from Canada, India, and South Africa.
Beyond securing pilots within Hartford Insurtech Hub’s corporate partners, the startups have also been highly engaged with the local community. All the startups in the cohort worked with student interns from the University of Connecticut and the University of Hartford throughout the program. Both universities have established a joint InsurTech course as a result of the Hartford Insurtech Hub’s program and these interns are participating in the course.
Dawn LeBlanc, Managing Director for the Hartford Insurtech Hub stated: “Over three years ago the program was designed to build Hartford as a global InsurTech capital where young ventures directly could engage with the rich local ecosystem of insurers, market players, as well as the local community, city representatives, and regulators. We set out to leverage Connecticut and Hartford’s strengths as the startups built their businesses.
The three year commitment that the sponsors made to this program has allowed us to establish a reputation for Hartford, as a place to come to get things done. And, as we wrap up our program deliverables towards that effort, we are excited about what’s possible in the next phase of the growth and evolution of Hartford’s innovation ecosystem.
Startups involved in the program have had the opportunity to engage with our strong insurance ecosystem that includes a deep investor network, broad mentor group and robust program content. Startupbootcamp’s global network and name recognition attract the newest and brightest startups to the Hartford InsurTech Hub. As a program, we help identify trends and make the most relevant connections while growing the insurance ecosystem.”
The eleven innovative teams that were showcased during the 2020 Demo Day were:
- Stable Insurance: (stableins.com) Stable Insurance is a distribution and analytics platform for consumers of commercial auto insurance. Stable focuses on the rideshare and on-demand economy/mobility segment of the commercial auto space. They allow customers to quickly get a policy for any vehicle in their fleet and offer risk analytics to better understand their risk profile. Stable Insurance will be moving to Hartford from New York City.
- Digisure Insurance Solution: (digisure.ai) Digisure’s technology platform provides Insurance-as-a-Service to digital platforms that have trust, safety or liability factors. Their APIs provide identity authentication, generates risk profiles for participants, develop risk scoring, a decision engine for underwriting rules and dynamic pricing for individual transactions, delivers protection packages, and handles claims. Digisure is based in San Francisco, California.
- iPill: (ipilldispenser.com) The iPill is a digital health, mHealth, and hardware system. The App controls a secure storage safe disposal dispenser to prevent opioid abuse and diversion. An integrated wearable sensor calls 911 if respiratory distress is detected. A CBT module distracts opioid use and iPill uses blockchain for data storage. iPill is based in Los Angeles, California.
- EDLORE: (edlore.com) EDLORE is a platform to view 3D images that provide a platform for O&Ms, 3D/AR, part numbers, videos, pictures, animations, etc. EDLORE is based in Dana Point, California.
- TauruSeer: (tauruseer.com) The archaic Governance, Risk, and Compliance approach to risk management are insufficient as companies grapple with myriad ‘point solutions’ and tools amid a false sense of security. Instead, they need an Integrated Risk Management Platform that aligns with modern cybersecurity architecture, their management objectives of Secure DevOps, and next-gen governance to deliver business goals. TauruSeer is based in Jacksonville, Florida.
- UDoTest: (udotest.com) UDoTest is a B2B at-home disease testing SaaS Platform. UDoTest can detect disease risk early, improve the consumer experience, cut costs, improve the underwriting process and increase sales. UDoTest is based in Boston, Massachusetts.
- Allganize: (allganize.ai) Insurance companies are getting millions of calls, and over half of those are ‘how-to’ questions, many of which are answered in the documentation. Customers rather not do something that takes time and effort, like reading instructions, manuals, FAQ documents. Allganize’s AI automatically finds the answer from myriads of documents. Allganize is based in Oakland, California.
- Mitigateway: (mitigateway.com) Engineers are employed to physically inspect properties only for insurers of large specialty risks with high premiums. Engineer’s reports are used to reduce claims. Mitigateway is applying the specialty insurers model to the commodity insurer market. Mitigateway is based in Toronto, Canada.
- Wysa: (wysa.io) 1 in 4 people will suffer mental distress. Wysa is an early intervention for high-risk populations (students, maternal health, high-stress workplaces). Similar to a journal, Wysa builds insights and shares techniques with its users and Wysa also offers real therapists for further support. Wysa is based in Bangalore, India.
- InvestSure: (investsure.info) InvestSure created a world-first insurance product supported by global reinsurer Hannover Re. The product is parametric and protects investors from losses in the share price which are caused by allegations of management dishonesty (including accounting fraud, bribery, etc). InvestSure is based in Johannesburg, South Africa.
- Livind: (livindi.com) Livindi is a platform of software, sensors, and services that enable seniors to live independently. Livindi is based in Wayland, Massachusetts
Michelle Cote, Director of Launc[H]artford, said, “It has been gratifying to see technology startups from around the world continue to benefit from mentorship and coaching from Hartford’s insurance community, despite disruptions to our usual way of doing business.
The Startupbootcamp team delivered incredible value, in spite of challenging circumstances, and our community has also gone above and beyond to help participating teams recognize new opportunities in a rapidly changing marketplace.
We’re looking forward to finding ways to continue to support these teams, even now that the program is over. And, we look forward to finding new ways to grow Hartford’s InsurTech community, together with our corporate partners in the year ahead.”
Beth Marez, SVP, Customer, Strategy and Innovation at Travelers said: “The Hartford Insurtech Hub has been instrumental in developing the region’s innovative startup ecosystem,” said Beth Maerz, Senior Vice President of Customer Experience and Innovation at Travelers. “As a founding partner, we are proud of what the Hartford Insurtech Hub has been able to accomplish. Over the past three years, a diverse group of entrepreneurs has helped to expand the city’s Insurtech expertise, and we look forward to seeing the next set of exciting ideas from presenters on Demo Day.”
For more information about the event visit: demoday.hartfordinsurtechhub.com
To keep up to date with Hartford InsurTech Hub visit: hartfordinsurtechhub.com or follow on Twitter, Facebook, Instagram and LinkedIn.
About Hartford InsurTech Hub
The Hartford InsurTech Hub, powered by Startupbootcamp, is an initiative established in 2017 by Hartford insurance companies, the City of Hartford, and CTNext. Focused on addressing the need for attracting new technologies and talent in insurance and technology into the City of Hartford and the local ecosystem. Program partners include Aetna, Capgemini, Cign a, The Hartford, Travelers, USAA, White Mountains, Launc[H]artford, Conning, LKP Global Law, Locke Lord LLP, and InsurBot. The accelerator’s work drives growth throughout the region and state to create a thriving spirit of collaboration and innovation between our partners, entrepreneurs, and investors while leveraging Startupbootcamp’s global network of capabilities and delivery approach.
For more information, visit: hartfordinsurtechhub.com