According to InsurTech NY, the competition will award $200,000 in prizes to three winning teams. Startups will compete for the title of the company with the most commercial potential.
“The finalists from last year’s competition gained investment and broad exposure to their business as a result of the competition. “The InsurTech NY competition has been a tremendous opportunity for us to get many more people excited about our unique offering,” said Itai Ben-Zaken, CEO of Agilius and winner of the 2020 early-stage competition.”
Judges for the competition will be evaluating startups for potential investment or pilot opportunities. The judges consists of angel investors, venture capitalists, and insurance carriers including New York Angels, Park City Angels, Anthemis, Sure Ventures, Transverse, Nationwide, GreenlightRe, and Grange Insurance. David Gritz, Co-Founder of InsurTech NY, stated:
“The hardest part for any InsurTech is gaining the initial traction and relationships necessary to get to a first customer. By supporting the next crop of early-stage InsurTechs, we can create a sustainable ecosystem for insurance innovation.”
Top teams will have the opportunity to present their business to a panel of judges at the InsurTech Spring Conference held March 10th-11th, co-hosted by InsurTech NY and InsurTech Hartford. . The deadline for submissions is January 29th.