InsurTech NY has started accepting applications for its Global Startup Competition for early-stage InsurTechs.
The competition features a prize pool of $200,000 that will be selected by three judging groups – InsurTech Fund, carriers and brokers, and InsurTech investors. Startups will be judged based on their expression of the most commercial potential in the application. The top ten teams will present live at the InsurTech Spring Conference held on March 29 – 30 in NYC to the entire conference audience.
The 2022 finalists presented to an audience of more than 600 people at the NY Marriott Marquis. “The Global InsurTech Competition allowed us to raise awareness about the challenges in the market for roofing repairs post claim and our solution for the industry,” said Garrett Kurtt, CEO of OneClick Data and winner of the 2022 competition.
The judging pools are comprised of insurance carriers/brokers, venture capitalists, and angel investors. Judges will score each company based on their investment and market potential. The judges represent organizations including Avanta Ventures, Candid Insurance Investors, Founders Shield, Gallagher, Lockton, Park City Angels, QBE Ventures, Starr Insurance, TIAA, and Tokio Marine.
“Every InsurTech needs exposure and investment to grow,” said David Gritz, Managing Director of InsurTech NY. “Past competition winners have attracted more than $45 million in funding post-competition and had exposure to hundreds of insurance carriers and brokers.”
Contestants are eligible for the competition if they ended 2022 with less than $250,000 in revenue. The top ten finalists will be announced in early March and will present in person at the 2023 InsurTech Conference. The deadline for submissions is February 10, 2023.
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