11 Teams have been selected for third Startupbootcamp InsurTech program to kick-off in February
Cyber security, digital health, AI first insurance, customer engagement and the sharing economy take centre stage in the top 11 InsurTech start-ups chosen to participate in the third annual Startupbootcamp InsurTech program.
Big data sources and analytics, Artificial Intelligence (AI), and Internet of Things (IoT) are just some of the technologies behind the solutions that the selected InsurTech start-ups are building.
In the last few years, InsurTech has become a global phenomenon. A clutch of key hubs including Berlin, Cologne, Munich, Singapore, New York, and San Francisco have emerged as well as our new program in Hartford, Connecticut, and London is still sitting at the top. An Insurance Nexus report from earlier this year summarized that Europe is “not so much the most disrupted of our key regions, [but] the longest disrupted…” making it harder for up and coming InsurTech start-ups to cut through and really make a difference. The successful teams, selected from 1,000 startup applications, have been chosen based on the diverse nature of their businesses and what most resonates with the needs of the industry.
The teams will relocate to Startupbootcamp InsurTech’s new home at RocketSpace in London, ready for the start of the program in February and will remain for the program’s three-month duration. For the start-ups joining the program, they will benefit from unrivalled support, resources, and the industry and investor connections they need to help grow their businesses. Working closely with the experienced team at Startupbootcamp, led by Sabine VanderLinden, the startup companies will be provided with access to an extensive range of partners, mentors, and investors from across its global network.
The 11 startups that will join the program are:
- CyStellar, from Sweden, is an AgTech cloud-based decision platform that 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, from Denmark, 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, from Germany, is developing an algorithm-powered app, which enables customers to perform their regular skin cancer check-ups without visiting a GP/dermatologist.
- Flowenum, from Finland, 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, from the UK, 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.
- PicUp, from Israel, is a system that optimizes Business to Consumer phone call performance. The system improves agents call success rates in the service and claims departments, and also enables sales agents to gain phone responses from those clients they need to access the most.
- Polywizz, from Israel, analyses a client’s entire insurance portfolio through deep learning, then cross-analyses 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.
- vDexi, from Sweden, in co-operation with the worlds vehicle manufacturers is collecting data from connected cars and delivers data parameters 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, from Croatia, is a smart telemedicine platform supporting a multitude of portable, FDA-approved ECG devices that is empowered by machine learning technology.
- ZASTI, from India, provides a scientific and proven way of predicting component or mechanical failure within commercial and industrial environments 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, from the United States, offers a customer- and data-centric cyber insurance platform that helps small to medium enterprises mitigate the risk of loss. It provides insights into ways to manage digital risks, while allowing businesses to get the right insurance coverage. It also connects customers with service providers for quick claim service management.
Sabine VanderLinden, CEO at Startupbootcamp InsurTech, says: “Technology has always been a key enabler within the insurance sector, and insurers do invest in those areas that support their growth and deliver operational efficiencies through innovative solutions, making it ever more important that we identify those startups that will most benefit the industry. These will range from delivering fully digitized products and services to re-shaping the insurance value chain. I am thrilled to be welcoming some truly inspiring teams into this year’s program, as we continue to build the hub for InsurTech to thrive in London.”
After five months of scouting start-ups from 96 different countries, the announcement comes after 22 talented InsurTech startups met in London last week for three intensive Selection Days with Startupbootcamp InsurTech’s corporate partners, mentors, and investors.