South Africa’s three startups Aerobotics, Emerge Analytics and Nuvalaw are among the 10 insurtech startups selected to join the 2017 cohort of Startupbootcamp InsurTech, the leading accelerator focused on early-stage, insurance technology startups and corporate innovation.
South Africa beat the US, which only had one startup accepted in the program among the top 10 technologically diverse startups working with drones, telematics, artificial intelligence, and other emerging technology to support and strengthen the insurance value chain.
Among the startups that will take part in Startupbootcamp InsurTech’s 2017 accelerator program and work closely with its insurance corporate partners are:
- Adapt Ready, is a US-based startup delivering risk intelligence and analytics to global corporations by using big data and predictive analysis.
- Aerobotics, is a South African drone technology startup working in the agricultural, logistical, and mining industries to acquire better data analysis using AI algorithms, and to help farmers farm more efficiently.
- Emerge Analytics, is a South African big data, artificial intelligence, and a scoring platform set to solve complex business problems, such as sales/marketing and fraud prevention.
- Insure A Thing, is a UK startup building a scalable platform that fundamentally reverses the operating model by charging payments in arrears and by taking a fixed fee on settled claims, to protect the things customers love.
- LifeSymb, from Sweden, is using an artificial intelligent health robot that uses multiple sensors, such as 3D depth cameras and accelerometers, to collect movement data about a person in order to provide automatic health and fitness recommendations.
- NuvaLaw, is a South African digital negotiation platform between motor vehicle insurers facilitating Online Dispute Resolution information exchange and Legal Process Outsourcing to qualified lawyers and mediators.
- Port, is a UK personal information cloud datastore for insurance business and people making it sy for companies to acquire, store, and manage personal information in a legally compliant way, while using the consented information to deliver new personalized products and services.
- Sharenjoy from Spain, is using artificial intelligence to offer collaborative micro insurance for people attending public or private entertainment events.
- TikkR, from Sweden, is providing short-duration and on-demand insurance protection to insure specific moments, mainly targeting Millennials.
- TrackActive, from the United Kingdom, is reducing cost of claims through better outcomes by using a telehealth assistant platform proposed to provide better care at lower cost through technology that detects engagement, reports on adherence and outcomes, and places accountability on the patient and their health practitioner.
According to Sabine VanderLinden, Managing Director of Startupbootcamp InsurTech, “This year has seen a dramatic increase in the number of mature InsurTech startups, especially those utilising emerging technology to change the way insurers work.”
The 10 were picked from the top 23 InsurTech startups which met in London after a three intensive Selection Days with Startupbootcamp InsurTech’s corporate partners, mentors, and investors.
After five months of scouting over 2,500 startups from 43 different countries and going through three intense Selection Days with the top 23 startups, Startupbootcamp InsurTech has selected the 10 most talented insurance technology startups that will enter its cohort beginning in January 2017.
Launched in 2015, Startupbootcamp InsurTech is a global accelerator based in London that focuses on disruptive and collaborative insurance innovation. More than 330 startups have been accelerated by Startupbootcamp worldwide, raised over €150 million and achieve a combined valuation of more than €500 million. 80% of these startups are still active.
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