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InsurTech Rising 365

Bringing you the best interviews, webinars and podcasts with InsurTech pioneers

Start-up Spotlight: The InsurTech Rising Demoers

This year at InsurTech Rising International, we welcome more demos to the stage to showcase their latest insurtech innovation in 7 minutes or less. 

Ahead of the event, we caught up with our demoers to find out a little more about them and the technology they'll be bringing to the stage.

distriBindExplain your start-up in 2 sentences or fewer.

distriBind aims to remove the pain of error and delay caused by bordereaux by delivering intelligent validation and reconciliation to the Delegated Authority market.

What has been your biggest success so far, and with hindsight what might you have done differently?

We received a grant from Innovate UK to further develop our AI-powered capacity utilisation prediction tool. This grant award was a great validation of the benefits this tool and the wider distriBind platform can deliver to the insurance industry, and of our capability to deliver cutting-edge solutions.

As a start-up, the biggest lesson we've learned in terms of doing things differently is to target and challenge prospects more, avoiding 'tyre-kickers' and window shoppers. There is a temptation in the very early stages to consider organising any meeting a success, rather than taking time to identify a key prospect profile and focussing efforts more narrowly.

Where does distriBind want to be in 2 years’ time?

We want to be at the forefront of a new and better way of doing Delegated Authority. We want to question the existence of the bordereaux - too many solutions tinker at the edges - but distriBind can deliver an ecosystem where the bordereaux is a quaint relic, and monthly reporting is a thing of the past. Delegated Authority is an essential part of the insurance industry, and distriBind wants to help everyone do it better.

Getsafe

Explain your start-up in 2 sentences or fewer.

We help people identify, organise and protect what they care most about in life with a completely new, delightful insurance experience on the smartphone. We currently offer renters and liability insurance in Germany with more products and European markets coming soon.

What has been your biggest success so far, and with hindsight what might you have done differently?

Our biggest success has been our persistence and strong believe that in insurance we can build a business that can last more than a hundred years. Getsafe is the only neo-insurance provider designed to offer insurance products in all lines of business: property, health and life. In five years, we will be a serious global challenger, putting insurance giants like Allianz and AXA under pressure with our highly efficient processes, our digital insurance experience and our clear customer promise. The future of the industry is digital.

Looking back, we should have been more courageous in some decisions in the past.  It can never move fast enough.

Where does Getsafe want to be in 2 years’ time?

We will be the go-to insurance brand for all millennials in Europe. With Getsafe, we offer an easy-to-use, flexible and fully digital insurance experience for the smartphone generation. With our technological approach, Getsafe is currently the premier insurance brand for Millennials in Germany, with a market share of almost 10% - followed by giants such as Allianz and AXA. With our new funding, we will offer our products in three more European countries by 2020, thus defending our pioneering role against direct competitors from Europe or the US. And we will offer more products, and also enter the life and health insurance sector.

Neener analytics

Explain your start-up in 2 sentences or fewer.

What if you could sit each customer down with a psychologist and just ask them, "How much of a risk are you REALLY?" We've automated risk decision-making to a 1-click of the consumers social media profile and/or a little as a 3-minute chat with ARIA: Autonomous Risk Information Assistant. This is the world's first augmented AI chat-based risk decision-making tool.

What has been your biggest success so far, and with hindsight what might you have done differently?

I wish we had conceived of our backtesting methodology sooner. We missed some opportunities early on. No one is doing what we are doing, so it took a while to come up with that process. In the end, the process is exceedingly simple.  

Where does Neener Analytics want to be in 2 years’ time?

We have taken a seed round investment from FIS Global and are going to start our first larger raise this year. Because our solution works every time, we are very open to conduct a quick backtest or comprehensive pilot for our customers. Those that do so, become customers or partners because the results are so compelling.

Meet the future of insurance technology at InsurTech Rising International at Station F in Paris this October >>