Against the backdrop of the Global Insurance Accelerator’s 5th Annual InsurTech Week, nearly 200 insurance company executives, InsurTech startup founders, and industry influencers spent the better part of a week talking about innovation.
Conversation centered not only what innovation looks like today in the insurance industry, but how to bring more innovation to market in the future.
Held October 14-18 in the insurance hub of Des Moines, Iowa, InsurTech Week brought together founders from 17 invited startups, as well as mentors from the GIA’s insurance company investors, various venture capital companies interested in early-stage investments, program mentors, and cohort alumni. The invited startups applied to be a part of this week-long program during the summer and traveled to Des Moines from eight U.S. states, Argentina, Canada, Israel, and the U.K.
InsurTech Week offers these companies a unique opportunity to get in front of contacts that are willing to help them accelerate their position in the U.S.
In addition to the opportunity for InsurTech founders to engage with Iowa’s active insurance community, the week is always a place where industry trends become evident as well. A couple of the more prevalent trends and discussions worth noting included:
In terms of emerging technologies under the microscope, this year’s InsurTech Week attendees were talking about agent enablement, analytics, and artificial intelligence (AI).
However, as carriers continue to struggle with digital modernization initiatives, InsurTech companies without the ability to integrate easily into existing IT infrastructures will find it nearly impossible to gain traction.
Original article in Carrier Management: https://www.carriermanagement.com/features/2019/11/25/200762.htm
(Editor’s Note: AI vs. Intelligent Automation. While definitions vary, the author uses the term AI refer to software that can continuously learn better ways to mimic human behavior—intended to eventually replace humans. She views intelligent automation as being about using a combination of humans and technology to create the best possible workflows—working smarter, not harder.)
Startups invited to GIA’s InsurTech Week were: Aerialytic, Avolanta, Bell Analytics, Inc., BOUND, Breathe Life, DeepVisionAI, EasySend, HazardHub, InDoW Technology Company,KASKO, MākuSafe, Optimity, Protosure, Relativity6, Relay, Talage, Inc., UDoTest Inc. For more information on the 13 startups in this group with offerings for the property/casualty insurance industry, see related article: “Now Presenting: 13 InsurTechs for P/C Carriers to Know“
InsureTech Connect 2019 (ITC) has grown to become the insurance industry’s biggest conference, bringing together more than 7,000 attendees. This year’s event kicks off on Monday, September 23rd, at the MGM Grand in Las Vegas.
We are thrilled for the opportunity to support 18 of our alumni companies, comprising of 30 insurtech founders, CEOs, COOs and Heads of Sales, to participate in ITC programming this year. You can find a majority of the companies in the ITC exhibit hall (K39 – K53), where you can have one-on-one conversations to learn more about the solutions, as well as the industry problems these startuare solving. Additionally, you can schedule conversations with the founders through the ITC conference app.
Those alumni with kiosks include:
Those alumni who are attending and participating in ITC but without a kiosk in the exhibit hall include:
There are two opportunities to see our alumni in action. Cowbell Cyber has been selected as a top-three finalist to present at the Resiliency Challenge on Wednesday from 2:00-2:50 p.m. That same day from 3:40-4:15 p.m. you can hear from Roland Chan, CEO of Findbob, on a panel “Your Pilot is Doomed, And You Don’t Even Know It Yet”.
Heading into selection for our sixth cohort and our Fall InsurTech Week program in October, the GIA has an established network of startups and stakeholders attending ITC. This conference is a great opportunity to connect with these amazing startups. Please reach out to GIA Managing Director Nicole (Cook) Gunderson at email@example.com, or GIA Program Manager Megan Brandt at firstname.lastname@example.org, for more information or to be connected directly to any of the startups mentioned above.
See you in Vegas!