InsurTech NY has opened the application window for its third annual InsurTech Early-Stage Competition (www.insurtechny.com/competition).
Three winning teams will split $200,000 in prizes. InsurTech startups will be selected as finalists based on their growth potential and market opportunity. The top teams will be invited to present at the InsurTech Spring Conference held on March 7th at the New York Marriott Marquis. Finalists from the previous years’ competitions gained broad industry recognition and were able to raise investment rounds shortly following the competition conclusion. Honeycomb Insurance (2020) and Delos Insurance (2021) raised $3.3M and $5.4M shortly after the competition.
“Growing Delos as a business has been a long path. Winning the InsurTech NY competition was a very important step along that journey and helped us get the exposure we needed to get to the next level,” said Kevin Stein, CEO of Delos and winner of the 2021 early-stage competition.
Competition judges will be looking for investment and proof of concept opportunities with the startups. The judging pool is composed of angel investors, insurance carriers, and venture capitalists. Highlighted judges include investors and business leaders from Avanta Ventures, CNO Financial, DealerPolicy, Gallagher, Lockton, Nationwide Ventures, New York Angels, Park City Angels, and Transverse.
“We are proud to be a catalyst for early-stage InsurTechs to gain recognition and relationships to scale their business,” said David Gritz, co-founder of InsurTech NY. “Each year we strive to make the competition better. This year, one of the winners will be awarded by InsurTech NY, and the winner will be strongly considered for investment from InsurTech Fund up to $50k.”
Early-stage InsurTechs are eligible to compete if they had less than $250,000 in revenue in 2021. The top finalists will present live at the InsurTech NY March Conference and will be announced in March 2022. The deadline for submission is January 28, 2022. Startups can apply to the 2022 competition at www.insurtechny.com/competition