Announcing Top 22 Startups Invited to Startupbootcamp InsurTech Selection Days 2018

Announcing Top 22 Startups Invited to Startupbootcamp InsurTech Selection Days 2018

06-Dec-2017 by Kristin Bell

It’s our third program year at Startupbootcamp InsurTech London, and we are witnessing startups emerging with more sophisticated and wide-ranging value propositions that augment and supplement the entire insurance value chain. This is a step away from the skewed focus on distribution that was initially the case when InsurTech exploded onto the scene. InsurTech startups are now tackling more complex and wide-ranging insurance problems that are closer aligned to insurers’ needs.

This year, we scouted over 4,000 startups from 96 different countries and selected the Top 22 startups, which are from 14 different countries. These talented startups have been invited to our London offices where they will partake in Selection Days, which kick off today, Wednesday, December 6th. On Friday, December 8th we will choose the Top 10 finalists that will take part in our 2018 cohort. To watch the live announcement of those 10 teams, like our Facebook page and tune in at 4:30 p.m. GMT on Friday for the brief, 10 minute announcement:
https://www.facebook.com/sbcInsurTechLondon

Over the last 5 years, InsurTech has increasingly garnered interest from investors and insurers, and we are specifically seeing this materialize in two areas: investment and partnerships. So far in 2017, $1.6 billion has been invested into InsurTech with increasing international activity. Notably, early stage (Seed/Series A) transactions comprise 67% of total transactions in the most recent Q3 2017.1 Additionally, insurers are increasingly looking outwards to innovate and their engagement with startups is becoming more positive and advanced. In 2016, just 28% of insurers surveyed had begun exploring partnerships with InsurTechs. However, by 2017, 45% said they were directly engaging.2 And while successful collaboration between insurers and InsurTech requires both sides to overcome process and culture challenges, it remains one of the best ways to drive value in the future.

It is an exciting time for InsurTech, and there is no doubt that insurance is changing, and we can’t wait to see how these companies will contribute to that transformation.

Meet the top 22 InsurTech startups:

Aenduo

Location: Italy
Website: www.aenduo.com
Description: Aenduo reinvents the way insurance companies understand life-behavior. They introduce an innovative health service platform that tracks the full spectrum of biometrics, nutritional and activities data: glycemia, cholesterol, blood pressure, oxygen saturation, heart rate, EGC, temperature, flow and respiratory rate, calories burnt, diet, sleep quality, physical activities and sports such as daily steps, running, swimming, tennis, cycling, etc.

AnnexSure

  Location: South Africa
Website: www.annexsure.com
Description:  AnnexSure combines real world experience with machine learning to support insurers in improving customer retention.

Coverholder

Location: Itlay
Website: www.coverholder.it
Description:  Coverholder is helping insurance brokers achieve their full potential through an innovative approach with digitally enhanced processes.

CyStellar

Location: Sweden
Website: www.cystellar.com
Description: The CyStellar AgTech cloud-based decision platform integrates geo-referenced information from a variety of sources including satellite imagery, drone-based surveillance, weather forecasts, ground-based sensors, and other social, societal, political, and economic information in order to provide actionable intelligence to farmers – large and small – at a reasonable cost.

Deemly

Location: Denmark
Website: www.deemly.co
Description:  Deemly is a reputation and social verification tool for P2P marketplaces and sharing economy businesses helping them build trust for their community, ultimately allowing users to take their reputation with them across all their online activity.

Derma 4.0

Location: Germany
Description:  Derma 4.0 are developing an algorithm-powered app, which enables customers to perform their regular skin cancer check-ups without visiting a GP/dermatologist.

FinChatBot

Location: South Africa
Website: www.finchatbot.com
Description: FinChatBot offers an AI-enabled customer servicing chatbot which enables financial institutions to serve their customers through a chat-based interface. The chatbot can be deployed across web and mobile app channels and uses machine learning algorithms to classify, identify and understand customer needs.

Flight Guard

  Location: Israel
Description: Flight cancellations instantly throw passengers into a hassle-filled and stressful situation they have no control over. Flight Guard is a digital-based, attractively priced insurance plan, which enables passengers to instantly take control of the situation when flights are cancelled.

Flowenum

Location: Finland
Website: www.flowenum.com
Description:  Flowenum is a predictive AI solution for insurance companies. Their B2B offering is an end to end solution that enables insurance companies to build connected, individualized, smart insurance services and products for customers in the digital age.

ForestCar

Location: UK
Website: www.forestcar.co.uk
Description:  ForestCar is a car sharing service for airports. The business offers car owners free airport parking in exchange for renting out their vehicles while they’re away on a trip. ForestCar’s mission is to create a global community of travelers who want to explore the world and contribute to a sustainable future and as such donates a share of their revenues to reforestation.

iClaim Solutions

Location: UK
Website: www.iclaimsolutions.net
Description:  iClaim Solutions offers a digital claims validation and settlement engine that enables insurers to efficiently handle claims internally.

Kippie

Location: UK
Website: www.kippie.co
Description:  Kippie is an Artificial Intelligence powered, smart onboarding solution for insurers, reinsurers and brokers with relevant in-chat up-sells and analytics. 

PicUp Mobile

  Location: Israel
Website: www.picup.io
Description:  A system for optimizing B2C phone call performance and increasing sales.

Piggymind

  Location: Singapore
Website: www.piggymind.com
Description: Piggymind is building a platform that enables clients to save toward their insurance every time they spend. Anytime consumers make a purchase anywhere, Piggymind rounds up the amount spent to the nearest dollar and adds any spare change to the customer’s virtual insurance wallet. The virtual wallet pays premiums directly to the customer’s insurance provider.

PolyWizz

Location: Israel
Website: www.poly-wizz.co.il
Description:  Through deep learning PolyWizz analyzes a client’s entire insurance portfolio, then cross-analyzes it with the information the carrier has on the customer to determine when a customer is over/under insured, giving the insurance agent/broker a better tool to cross-sell to existing customers.

SaveSarah

  Location: Hungary
Website: www.savesarah.org
Description: With automated drone inspections SaveSarah enables insurance companies to have high-quality pre- and post-loss imagery and more accurate risk assessments – eliminating human errors and performed in minutes at a fraction of traditional cost.

The Cyber Fish

Location: UK
Website: www.thecyberfish.com
Description:  Intelligent Cyber insurance underwriting platform providing quick and precise cybersecurity risk assessment for brokers and insurance companies.

vDEXI

Location: Sweden
Website: www.vdexi.com
Description: In co-operation with the worlds vehicle manufacturers, vDEXI are collecting data from connected cars and delivers dataparameters to service providers in a variety of market verticals. The platform fetches data from the Connected Car and delivers it to the Service Provider in a standardized format, regardless of Car Manufacturer and Car Model.

vHeart

Location: Croatia
Website: www.vheart.io
Description:  vHeart is a smart telemedicine platform supporting a multitude of portable, FDA-approved ECG devices that is empowered by machine learning technology.

Willowi

Location: Spain
Website: www.willowi.com
Description:  Willowi is an online platform for insurance management and contracting. It is based on the idea that each person is unique. Willowi instinctively creates personalized policies through a simplified process that takes just over a minute.

ZASTI

Location: India
Website: www.zasti.io
Description:  The ZASTI platform provides a scientific and proven way of predicting component or mechanical failure using a transparent SaaS model. ZASTI’s Deep Learning algorithm, trained and tuned for prediction, allows analysis of wide array of data from multiple sources (sensors, legacy systems, maintenance records).

Zeguro

Location: USA
Website: www.zeguro.com
Description:  Zeguro offers a customer- and data-centric platform for businesses to manage risk and insurance. It provides insights into managing risk, while allowing businesses to get insurance as needed. It also connects customers with service providers for quick claim service management.

 

After five months of scouting and over 800 hours of in-depth conversations, we are ready to meet our cohort!

Follow us throughout the next couple of days on Twitter @sbcInsurTech.


1CB Insights Quarterly InsurTech Briefing: Q3 2017 with Willis Towers Watson

2Trend Report in partnership with PwC: Ready for Takeoff: How InsurTechs are poised to transform insurance

 

Kristin Bell

Head of Marketing, Startupbootcamp InsurTech