Meet the five female-led startups set to pitch at InsureTech Connect on September 23
For the second year, Quesnay with support from CSAA Insurance Group through its venture arm, Avanta Ventures, and RGAX, searched for women-led startups with solutions for insurance for the Female Founders in InsurTech competition.
The 2019 InsurTech competition, the fourth in the Female Founders in Tech series, continues to see a variety of solutions reflecting emerging trends in insurance. The leading categories of solutions were P&C, Auto, and Health insurance - a new category for this year’s competition. Applicants are focused on cutting edge trends including usage-based and on-demand insurance, blockchain, and IoT.
This year’s competition saw an even larger global reach than 2018 with 53 percent of the applications coming from outside of the US. Applicants represented 25 countries in total including Brazil, Mali, Netherlands, Nigeria, Pakistan, Palestine, and Singapore.
As insurance carriers continue to integrate technology, the opportunity for collaboration with insurtechs is stronger than ever. But, in an industry where only 12% of top officer positions are held by women, there is still a strong desire to see more women highlighted. In an effort to help move the initiative forward, we are proud to announce the 2019 Female Founders in InsurTech finalists.
Meet the Finalists
Washington, DC, USA
ANOVA Intelligence finds sophisticated cyber threats by scanning where other solutions can't reach. They've leveraged AI & deep learning to automate deep memory forensics--the same process the FBI uses—at scale, cost effectively and no expertise is required to run the software.
Los Angeles, CA, USA
DropIn, Inc. provides an on-demand, live video platform that enables more precise underwriting risk assessments, speeds claim resolution, enhances damage estimate accuracy, & reduces indemnity and loss adjustment expenses. Users can utilize streaming video and photos captured directly by customers or via a crowdsourced independent contractor network to achieve better insight into the intricacies of damage for enhanced decision-making.
ClaimSpace’s web-based, data-driven engagement platform delivers a more efficient, collaborative and digital claims experience for customers, claims staff and stakeholders alike. Using open APIs to connect with existing systems, it improves data & analytics capabilities and the customer experience across the claims journey.
Ramat Gan, Israel
LeO is a a white label solution for insurance companies and insurance agencies. A Conversational AI platform designed specifically for the insurance industry, LeO automates insurance processes while ensuring alignment with industry regulations through integration with insurance legacy systems. LeO builds human-like, intelligent conversations by applying complex NLP models tailored for industry needs.
Cambridge, MA, USA
Surround builds technology-powered insurance to protect modern consumers in an uncertain world. The shift from owned assets to shared access gives them the flexibility to work, live, and move on their terms. It also leaves them exposed to an unprecedented level of financial uncertainty. Surround is reinventing age-old insurance products to serve these new consumers.
Naming a Winner
Finalists will present their solutions to a panel of judges live at InsureTech Connect, the world’s largest gathering of insurance leaders and innovators. Included in this year’s pitch event judges are executives from sponsors CSAA Insurance Group and RGAX, as well as Jennifer Fitzgerald, co-founder and CEO of Policygenius.
In preparation for their pitches, finalists will work with executives from around the insurance industry during a 4-week mentorship phase. During this period finalists will also have access to a regulatory & compliance in insurance education session from Boost Insurance, office hours with a past Female Founders in Tech winner, a Q&A session with an investment expert, and an Insurance 101 learning session.
The top 3 pitches will receive a combined $25,000 cash prize, complimentary access to co-working space at Upward Hartford, and an Innovation Women membership. The first place winner will also receive additional mentoring from QBE Ventures. New to this year’s program, a “people’s choice winner” will also be selected. Voted by the audience at the final pitch event, this recipient will be awarded a spot in the innovation showcase during ITC.