The Global Insurance Accelerator (GIA) has announced the eight insurtech startups that will make up the 2020 cohort in Des Moines, starting on January 14.
“This year’s cohort of companies is solving big and important problems, each of which continues to align with the GIA’s mission of driving innovation in the insurance industry,” said Nicole Gunderson, managing director of the GIA, in an announcement. “Our mentors, largely insurance professionals, are looking forward to engaging with these insurtech innovators in the months to come.”
The selected companies will each receive a $75,000 investment and participate in the GIA’s mentor-driven program by engaging in 1:1 meetings with insurance professionals, site visits to insurer offices, networking events, discussions with insurtech founders, education sessions and investor introductions.
The eight companies participating in this year’s cohort are:
- Caregiven: An Oregon-based startup enabling providers to offer real time, curated guidance to individuals and families managing end-of-life care for an aging or ailing loved one.
- Denscore: A Michigan-based startup using existing claims data to support dental insurers’ pay-for-performance initiatives to derive value-based scores for participating dentists.
- Gerald Tech: A New York-based startup offering a life event engagement and cross-sell platform for insurance providers.
- InsureVite: A Singapore-based startup aiding insurers in reducing friction in the insurance process and revolutionizing customer experience through social messaging apps.
- Kiwi: A New York-based startup focused on bringing episodic on-demand injury insurance to market by using social media analytics to meet customers wherever they are.
- Summary Medical: A Wisconsin-based startup employing artificial intelligence to automate the review of medical records for life insurance companies.
- TCARE: A Missouri-based startup reducing long-term-care (LTC) claims by providing an evidence-based, family caregiver support program which can help delay or prevent nursing home placement.
- UDoTest: A Massachusetts-based startup (via South Africa) providing a business-to-business at-home disease testing software platform which helps enterprises improve insurance outcomes.
“We evaluated a strong and growing application field and were especially impressed by the quality of these founders and their solutions in terms of industry need, product-market fit, and degree of innovation,” said Jeff Russell, president of Delta Dental of Iowa and board chair for the GIA.
GIA will conclude the 2020 program with final presentations as part of a “demo day” at the Global Insurance Symposium on April 22.
To celebrate and introduce the accepted startups into the community, GIA will be holding a welcoming reception on Jan. 29 at the Northwestern Hotel building, from 4:30-6:30 p.m. Registration for the event is free.
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