“There is no sign of this insurtech momentum slowing down”

“There is no sign of this insurtech momentum slowing down”

London-based accelerator Startupbootcamp InsurTech is on the search for the next wave of insurance-inspired start-ups to “take the industry by storm”.

Startupbootcamp InsurTech says the process of searching for and purchasing something on Amazon or booking peer-reviewed accommodations in a different country at the touch of a finger, condition people to “expect this fluidity and ease of experience with every transaction and interaction – including with our insurance”.

Sabine VanderLinden, global managing director of Startupbootcamp InsurTech, adds that new firms are “attracting significant amounts of funding now flowing into insurtech businesses” and “there is no sign of this insurtech momentum slowing down”.

To back this up, it cites some stats from CBInsights. Insurtech in 2015 saw $2.7 billion investment across 122 deals. 2016 saw $1.7 billion across 173 deals. And so far in 2017, the first two quarters combined have seen over $1 billion investment across more than 100 deals – over half of which went to early stage/seed/Series A start-ups.

Startupbootcamp InsurTech also points to its alumni as a sign of sweet success.

These include Buzzmove, which raised $8 million investment since leaving the accelerator in 2016 and launched buzzVault, a new service aimed at customers who want to “protect, manage and store” their belongings in a “digital vault”.

There is also CBien, a digital asset management platform that can value items and offer traditional coverage and/or help users to manage claims, and was the start-up-in-residence during the 2017 programme. It has raised an additional $10 million to fuel its international expansion plans.

Startupbootcamp InsurTech says it enables collaboration with over 200 mentors, 26 insurance brands, and hundreds of investors, in addition to support and advice from entrepreneurs, programme alumni and businesses. It offers hands-on sessions, workshops and “bespoke” classes. This programme is open to ten start-ups.

Applications are open until 29 October 2017 – and you can apply here.