Insurtechs showcased innovative ideas

Last week the second Demo Day organised by the StartupBootCamp InsurTech was held in London. The 700 or more guests also included several colleagues from Munich Re, ERGO and ERGO Direkt. ERGO and Munich Re are both partners of StartupBootCamp InsurTech.

Start-ups from South Africa, Sweden, Spain, France, the USA and the United Kingdom all presented their businesses and business ideas in a five-minute pitch. These newcomers are specifically targeting the insurance market and focussing on potential future models. One such example is the use of on-demand insurance using mobile apps (Tikkr) or insuring the emotion of events, like music gigs (Sharenjoy). These start-ups are based on new technologies, such as AI (Artificial Intelligence) or Blockchain.

Managing Director Sabine VanderLinden opened the event by saying that now over 100 million US dollars have been invested (globally) in start-ups by StartupBootCamp. This was proof that activities and commitment at an early stage in the establishment of new start-ups was a successful concept.

Becky Downing, alumni from last year’s event, opened the pitches. She is founder and CEO of Buzzmove. Downing called up on the participants to “embrace the new digital reality”: “Emerging technologies, such as AI-inspired machine learning techniques, Block chain and other new innovations, open up huge opportunities.”

Cbien was a more mature start up represented on the programme to offer advice and share knowledge with colleagues.” Cbien is a digital asset management platform, which evaluates consumer goods and offers traditional insurance, encouraging users to insure niche single items, unusual or expensive personal belongings, like camera, antiques or watches. Cbien also offers real-time market value price evaluation. David Gascoin, CEO and co-founder of Cbien, described the start up as a “digital inventory platform, which provides for joint use by clients, insurance firms and businesses.”

Following the presentations, all participants had the opportunity to get to know the start-ups better on their stands.

The complete line-up of start-up companies:

• Adapt Ready
• Aerobotics
• AIMO
• Emerge
• Insure A Thing
• NuvaLaw
• Port
• Sharenjoy
• Tikkr
• TrackActive
  

By Christian Riepe