Insurtech Hartford convening worldwide entrepreneurs for innovation contest

Insurtech Hartford next week will award $50,000 in cash and prizes to entrepreneurs trailblazing new technologies in the insurance industry.

The organization founded and run by local insurance professionals will hold its annual Innovation Challenge virtually on Thursday, June 18, at 11 a.m., to crown winners in three categories, in addition to an audience favorite award. 

The categories include best emerging insurtech innovation, best self-service award and most innovative Beazley Breach Response (BBR) product, which is a services-based solution to data breaches.

Insurtech Hartford said the contest had nearly 100 submissions from entrepreneurs, students and other innovators from both inside and outside the insurance industry. Ten out-of-state finalists were selected from Massachusetts, New York City, New Jersey, Florida, Iowa, Canada, Australia and Israel to compete for the prize money next week.

More than 20 representatives from 10 insurance companies will judge the finalists and provide feedback. Program sponsors include Beazley, Hartford Steam Boiler, Travelers Cos., Launch, UConn Connecticut Center for Entrepreneurship and Innovation, the Connecticut Insurance Department and Amica. Nassau Re, University of Hartford and Upward are partners. 

InsurTech Hartford founder Stacey Brown said the program further elevates innovation and entrepreneurship in the Capital City, which is commonly known as the insurance capital of America.

“We have rich, diverse finalists and this is our opportunity to support their entrepreneurial spirit while showcasing the work in this sector,” Brown said. “It is amazing to see how well the Hartford insurance community came together in support of this initiative.”

Finalists for the Innovation Challenge include: 

Beazley Breach Solution:

• Gamasec, Herzelia Pituach, Israel
• Infiniqo Inc., Skillman, N.J.
• Tide Foundation, Randwick, Australia

Best Emerging: 

• Anodz Inc., Miami, Fla.
• Benekiva, Des Moines, Iowa
• iPill Inc., Rowland Heights, Cal.
• Tide Foundation, Randwick, Australia

Best Self Service:

• HL Acquisition Inc (dba Hosta Labs Inc), Cambridge, Mass. 
• Mitigateway, Toronto
• Sigo, New York City

Click here to register and view the program.