Hartford InsurTech Hub’s accelerator program is more than halfway done with their 2019 accelerator program. The next few months will be extremely challenging, and the ten startups that are residing in Hartford will have to be dedicated to the accelerator process in order to extract as much out of the program as possible. Nonetheless, the teams have been eagerly anticipating what is planned for the next few months and have been learning new tactics to help their business like never before.
The journey to Demo Day is a period when entrepreneurs from across the globe come together with a common goal and embark on a journey that they will never forget. New friendships will form and innovative ideas will spark. Everyone involved in the accelerator program has a lot to gain from the program, so watching these startups participate is an exciting time for everyone here in Hartford.
The 10 startups that have gone through the program went through a rigorous scouting and application program, as well as an intense Selection Days event in late November. They have arrived in Hartford early February and have spent the first month, and will spend the remaining few months, scaling their businesses and perfecting their propositions.
For the entire three months that the startups will be residing in Hartford, their schedule will be jam-packed. These teams know they must be prepared for the weeks ahead, but they are also aware that this period will be a highly rewarding time. There will be workshops led by industry leading experts focused on everything from Growth Hacking to Product Validation and Financial Modeling. The startups will also have invaluable meetings with corporate partners and mentors, as well as evening socials to relax and unwind.
Demo Day, the program ending event, will happen on April 26th. This event will be a culmination of all the startups’ hard work, drive, and persistence as they will have the opportunity to showcase their ventures to the world.
On April 26th, Demo Day will be held at the Bushnell Theater in Hartford. Make sure to register to save the date. Hartford InsurTech Hub partners include: Aetna, Travelers, Capgemini, The Hartford, USAA, Cigna, White Mountains, Clyde & Co, and CT Next.
Our scouting process was conducted from July to September in 2018. Overall, hundreds of startups were scouted in order to find the top InsurTech startups, showcasing the program’s truly global reach. In total, our scouts conducted over 800 hours of mentoring at the 23+ events that we hosted and attended.
Without a doubt, our team’s scouting efforts colossal, but all the hard work paid off as we now a hugely talented group of InsurTech startups from around the world joining us in Hartford.
2019 Cohort Trends
InsurTech has become exceedingly popular in recent years as the insurance industry finally embrace the rise of digitization. Many major incumbent insurers are turning to startups as a source of innovation as they seek methods to remain relevant to modern day consumers.
Among the 10 startups in our 2019 cohort, three are from the United States, two are from Australia, two are from Canada, one is from South Africa, one is from Switzerland and one is from Israel. This demonstrates that Hartford is becoming a major hub for InsurTech startups, and not only is Hartford appealing to domestic companies, but also to international InsurTech startups.
From optimizing the claims process and increasing retention rates to analyzing behavioral models and reducing cost, the 10 startups selected to exhibit a wide variety of the most popular InsurTech trends that we are seeing in 2019.
2019 Hartford InsurTech Hub Startups
- Pineapple: Pineapple offers a fair, transparent, and affinity-based P2P insurance and they’re coming to Hartford from South Africa.
- handdii: Coming from Australia, handdii is a digital platform that automates the property insurance claim process from FNOL through to claim finalization.
- Dream Payments: Dream Payments is a Fintech startup from Canada that powers digital and mobile payment services for business customers.
- Pitch Gauge: Pitch Gauge, from Georgia, is a roofing estimating application using mobile devices to do property inspections.
- Medyear: From New York, Medyear is a social network for healthcare collaboration. They connect consumers to over 190 health systems and 700k doctors for real-time chat, secure email, microblogging, and personal health records.
- Voom: Voom is targeting those who use on-demand mobility services episodically, providing cover for accidents that affect themselves, third parties, and properties. They’re originally from Israel.
- Talem Health Analytics: Coming from Canada, Talem Health Analytics provides data-driven insights on bodily injury claims cost.
- See Your Box: See Your Box provides Industrial IoT tools to digitize supply chains. SYB is a tech-service platform that collects, analyses and extracts information related to goods across all steps of the supply chain and is coming to Hartford from Switzerland.
- ClaimSpace: Coming from Australia, ClaimSpace is a platform that bridges the communication gap between customers, insurers, and stakeholders during the claims process.
- CareValidate: Powered by a life-saving light bulb called SafeLight, CareValidate provides health, safety, and quality of care telematics to transform workers’ compensation, senior living, long-term care, life, and health insurance products with plug-and-play insurtech solutions. Their founder is from Georgia.
As mentioned earlier, be sure to save the date for Demo Day, on April 26th at the Bushnell Theater, Hartford.