Insurtech NY, established in 2019, operates as an accelerator and resource hub for the insurance innovation community in the New York metropolitan area. The organization hosts bi-monthly seminars that facilitate collaboration among carriers, brokers, investors, and Insurtech companies. Its primary goals are to attract talent to the insurance sector, promote innovative regulatory practices, draw Insurtech firms to the New York region, and enhance access to financing for emerging technologies in insurance. By fostering a dynamic ecosystem, Insurtech NY aims to support the growth and development of the insurance technology landscape.
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RIC
Pre Seed Round in 2024
RIC is a digital insurance agency that focuses on providing affordable flood solutions by monitoring weather conditions. The platform is designed to help individuals insure their belongings against flood-related damages. In the event of heavy rainfall and resultant property damage, RIC offers immediate payment and bill reimbursement, making the process of securing insurance straightforward and efficient for users. By leveraging real-time weather data, RIC aims to protect its clients from the financial burdens associated with flooding.
Warranty Life
Pre Seed Round in 2024
Warranty Life is a company that specializes in product protection technology, focusing on usage-based mobile device insurance. Its innovative platform provides continuous coverage for devices, allowing consumers to manage and protect their purchases effectively over time. The technology enables post-purchase extended warranty offers, ensuring that customers can maintain protection seamlessly from one device to another each year. By empowering users to take control of their product protection, Warranty Life enhances the overall consumer experience in managing warranties and insurance for their devices.
ZenHedge
Pre Seed Round in 2024
ZenHedge provides financial risk management solutions for shippers and carriers. The company focuses on mitigating tender rejection risks, routing guide failures, and the impact of truckload freight rates. ZenHedge offers fintech-based insurance solutions to protect shippers and ensure smooth operations. The company aims to simplify risk management with easy-to-use and enduring value solutions.
RiskQ
Pre Seed Round in 2024
RiskQ is a developer of a cyber risk quantification platform that leverages artificial intelligence to automate cyber risk assessments and enhance regulatory compliance. The platform provides businesses with insights into their cyber vulnerabilities through advanced analytics and business intelligence, facilitating effective ransomware strategies and prioritizing remediation efforts. By improving cyber resilience, RiskQ enables its clients, including cyber insurance firms, to significantly cut costs, enhance profitability, and reduce potential fines associated with non-compliance. The use of RiskQ's solutions can lead to substantial improvements in cybersecurity compliance and financial outcomes, ultimately contributing to the overall profitability of organizations in the cyber insurance sector.
DLT Alert
Pre Seed Round in 2024
DLT Alert is a cybersecurity company that specializes in providing embedded warranty protection against ransomware and cyber-attacks. Its platform offers cyber insurance on a blockchain, utilizing artificial intelligence for automated claims approval and immediate financial payouts. This enables businesses to access affordable financial protection against cyber threats.
Sertis
Seed Round in 2024
Sertis is an insurance company that specializes in providing property and casualty insurance for multifamily operators. As a modern Managing General Agency (MGA), Sertis offers a range of coverage options, including property insurance, general liability insurance, and equipment breakdown insurance. Operating in 16 states, Sertis aims to deliver comprehensive insurance solutions at competitive rates, enhancing customer service and support for owner and professionally managed multifamily properties.
Jove
Pre Seed Round in 2023
Jove Insurance specializes in providing tailored business insurance solutions for contractors, consultants, advisors, and small to medium enterprises. The company's offerings are designed to protect businesses from compensation claims related to bodily injury, property damage, and financial loss when interacting with clients, contractors, or the public. In addition to traditional coverage, Jove Insurance has developed an innovative platform that automates the application of insurance for corporations, ensuring that liability, motor, and health coverage are accurately applied on a project-by-project basis. This system enables businesses to quickly identify under-insured workers and maintain compliance with insurance requirements. Legal support is also part of Jove's services, assisting clients in defending against claims.
Green Shield Risk Solutions
Pre Seed Round in 2023
Green Shield Risk Solutions provides a risk management platform that connects prevention, mitigation, and insurance services for property owners and their brokers. The company focuses on disaster-prone buildings, offering advanced risk reduction techniques to help mitigate losses from climate-related threats such as wildfires and hurricanes. By incorporating catastrophe modeling and sophisticated mitigation strategies, Green Shield aims to effectively reduce the loss exposure associated with these environmental challenges.
Hammurabi
Pre Seed Round in 2023
Hammurabi develops technology to provide insurance services. It predicts health risks and uses conversation tools on dealing with clients. Hammurabi is based in California, USA.
SPIB Insurance Agency
Pre Seed Round in 2023
SPIB Insurance Agency provides insurance solutions for businesses
StartSure
Seed Round in 2023
StartSure is a software platform that focuses on simplifying the acquisition of business insurance for small businesses, startups, entrepreneurs, and independent contractors. By streamlining the process of obtaining, reviewing, and purchasing comprehensive insurance, the platform allows users to receive tailored quotes with minimal effort. StartSure aims to provide affordable insurance plans that meet the specific needs of its clients, thereby making it easier for them to secure the coverage necessary to protect their businesses.
Otonomi
Seed Round in 2023
Otonomi operates a blockchain-enabled parametric platform that revolutionizes cargo insurance by converting traditional policies into efficient digital products. This innovative platform utilizes proprietary technologies such as data-activated triggers, smart contracts, and integrated digital wallets to significantly enhance the insurance process. Otonomi reduces claim resolution times from 45 days to just 45 minutes and lowers administrative costs by 75%. Additionally, its dynamic pricing and advanced risk scenario capabilities open new market opportunities while maximizing profitability. By improving the speed and transparency of the insurance claim process, Otonomi fosters greater trust among clients and helps insurance companies increase sales.
LossPay
Pre Seed Round in 2023
LossPay is an insurtech company that specializes in providing diminished value insurance for high-end vehicles, specifically those valued at $50,000 and above. It operates as a managing general agent (MGA), offering a range of services including diminished value coverage, accelerated total loss, and a vehicle replacement program. These services aim to ensure that car owners are fully compensated for any loss in value following an accident.
Quantee
Seed Round in 2023
Quantee is a provider of ActuAI, a software-as-a-service platform tailored for the insurance and reinsurance sectors. This innovative platform leverages artificial intelligence to enhance actuarial processes, allowing companies to build and manage competitive pricing models significantly faster than traditional methods. By utilizing automated machine learning algorithms, Quantee's solution streamlines workflow, reduces operational costs, and saves substantial time for actuarial teams. Through user-friendly and flexible features, ActuAI empowers insurance companies to adapt quickly to market demands and improve their overall pricing strategies.
Kayna
Pre Seed Round in 2023
Kayna is an insurance distribution company that specializes in embedded insurance solutions for carriers and brokers. By integrating their platform with vertical SaaS applications, Kayna enables the seamless embedding of insurance products into various business models. The company's technology leverages business data to accurately price risk and update policies in real-time, ensuring that clients maintain appropriate coverage. This approach not only enhances the value offered to customers but also allows businesses to generate additional revenue through insurance services.
Chaiz
Pre Seed Round in 2023
Chaiz operates as an online marketplace specializing in extended car warranties, addressing the financial burden of car repairs for many Americans. With a significant portion of the population unable to cover unexpected repair costs, extended warranties become essential for vehicle owners. Traditionally, these warranties were available only through call centers or in-person transactions, often at inflated prices due to middlemen involvement. Chaiz revolutionizes this process by allowing consumers to purchase warranties directly from protection providers through a streamlined digital platform. This not only enhances the shopping experience but also reduces costs by approximately 40%, making extended warranties more accessible and affordable for car owners.
Eleos
Pre Seed Round in 2023
Eleos is an insurance firm that focuses on digitizing the insurance process to enhance accessibility and efficiency. The company partners with consumer brands to seamlessly integrate income protection and life insurance into their online platforms. By offering instant life and health insurance without the need for health checkups, Eleos aims to provide individuals with essential financial security in the event of illness or death. This innovative approach facilitates a more streamlined experience for users seeking insurance coverage.
Boardwalk Insurance
Pre Seed Round in 2022
Boardwalk Insurance offers agents superior services and advices to businesses.
Gigaforce
Seed Round in 2022
Gigaforce is a software company that offers a patent-pending Software as a Service (SaaS) platform aimed at streamlining complex subrogation and recovery claims in the insurance industry. The platform utilizes artificial intelligence-driven predictive models alongside specialized expertise to enhance the efficiency of subrogation, recovery, and salvage processes. It serves a range of stakeholders within the insurance ecosystem, including insurers, law firms, and third-party adjusters, facilitating secure financial transaction sharing among all authorized participants.
Atidot
Non Equity Assistance in 2022
Atidot is a technology company that provides a cloud-based platform designed to assist life and annuity insurers in optimizing their business operations. Founded in 2016 in Ramat Gan, Tel Aviv, by Dror Katzav, Barak Bercovitz, and Assaf Mizan, Atidot leverages artificial intelligence, machine learning, and predictive analytics to deliver data-driven insights. The platform allows insurers to transform complex models into actionable strategies, helping them identify new audiences, experiment with product offerings, drive growth, and improve capital management. By enabling precise client targeting and risk assessment, Atidot empowers insurers to make informed business decisions and develop new revenue streams.
Quantumerge
Pre Seed Round in 2022
Quantumerge is a specialized insurance company focusing on transactional and representations & warranties (R&W) insurance for small technology acquisitions. It operates an AI-driven mergers and acquisitions insurance platform, designed to simplify and expedite the insurance placement process for brokers and underwriters. The platform facilitates communication among all parties involved in the transaction, providing tools and resources to make the process efficient and predictable.
Stere.io
Seed Round in 2022
Stere is a digital platform designed to assist businesses in launching, growing, and managing insurance programs. Founded in 2021 and based in Dover, Delaware, the company connects capacity seekers, such as banks and insurance partners, with capacity providers, including carriers and reinsurers. By offering a comprehensive infrastructure, Stere equips businesses with essential tools and services, including digital platforms, data analytics, and access to a network of capacity providers. This enables companies to effectively develop and enhance their insurance offerings.
SureBright
Pre Seed Round in 2022
SureBright is an insurance-as-a-Service platform that facilitates the integration of insurance and warranty products into various websites. By streamlining the merchant setup process and offering efficient management and claims handling, SureBright allows businesses to enhance their service offerings with minimal effort. The platform aims to simplify the last mile of insurance distribution, making it easier for companies to provide their customers with embedded insurance solutions directly on their sites.
RemitRix
Grant in 2021
RemitRix, founded in 2017 and headquartered in Ramat Gan, Tel Aviv, develops an actuarial and risk management platform that leverages machine learning to enhance compliance and efficiency for insurance companies. The platform offers a comprehensive tool for managing assets and liabilities, automating complex manual processes, and facilitating seamless collaboration among organizational departments. By utilizing data analytics, RemitRix improves model accuracy and reduces costs, ultimately enabling insurers to make informed predictions about capital and risk. This holistic approach not only accelerates reporting processes but also mitigates required capital, thereby enhancing profitability for its clients.
Delos Insurance
Grant in 2021
Delos is a digital property insurance provider for homeowners in catastrophe areas. Insurance is difficult to find in high risk regions; few insurers write in these areas and the ones that do are expensive and slow. One main cause for this problem is low resolution catastrophe models, which have caused regular insurers to pull out of high risk areas. Our team has extensive experience in data science and aerospace engineering and is creating new, higher-resolution catastrophe models. We use these models to create a new home risk rating system. We will also use our models to innovate on product, actively managing our client's risk and helping them prepare for their likely perils.
Loadsure
Grant in 2021
Loadsure UK Ltd, established in 2018, is a London-based company with an additional office in Denver, Colorado. It operates as a subsidiary of Loadsure Ltd. The company specializes in developing freight cargo insurance software, offering a cloud-based, end-to-end digital platform that automates manual operations and employs predictive analytics. This platform, known as Holistic Freight Protection, is designed to predict, prevent, and protect, enabling autonomous risk management, accurate pricing of freight insurance, and transparent, automated claims handling. The solution caters to the needs of freight brokers, shippers, and carriers, helping them reduce per-load insurance costs and expedite claims settlements.
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