InsurTech Hub Munich announces the 29 participants of the ‘NXT: Enterprise’ Innovation Programme, which kicks off end of April 2021
It always is a tough decision: About 250 promising startups from 40 countries had applied for admission to InsurTech Hub Munich’s (ITHM) seventh Innovation Programme, ‘NXT: Enterprise’. But the team couldn’t accept more than 29 of them to the brand new format focusing on Smart Enterprise solutions.
“We’re proud to announce the names of the startups we believe are the best fit for this programme and have the highest potential to enter into meaningful conversations with our network’s corporate and VC partners”, comments ITHM Managing Director Christian Gnam. “Our hub’s main objective is to cultivate collaboration at the crossroads of insurance and technology and leave an impact with our cross-industry partners.”
The selected startups hail from 15 different countries, with about two thirds of them based outside of Germany. “This already is the third programme in a row to be hosted remotely, which allows again for a very international crowd – the founders, but also high-caliber strategic mentors and experts – to participate”, explains Programme Director Esther Eva Prax.
“We have witnessed the insurtech innovation ecosystem thrive during the pandemic. With the Smart Enterprise focus we aim to really make it future-proof and cater to the specific challenges that our partners are continuously sharing with us. For this to happen we have defined four core fields for ‘NXT: Enterprise’: People, Process, Product and Tech. All four are interconnected and none is a virtue of its own. Insurers have the opportunity to become more than just the ‘necessary evil’ they are often seen as today, but a real partner to customers when they need it the most.” (also read: “What’s NXT:, Esther”).
Three months of serious business development
When NXT:Enterprise officially kicks off on April 26, the participating entrepreneurs will meet mentors, investors and decision-makers from ITHM’s more than twenty partners from the insurance and tech industries.
“It is three months of serious networking and business development, culminating in a large showcase on July 7”, says Tom Van den Brulle, Global Head of Innovation at Munich Re and Chairman of the ITHM Board, “and during all stages they get assistance by ITHM’s team.”
Prax adds: “We’ve even coined a term for that structured process: ‘Concierge services’. This means that we walk the walk with both parties, brief and prepare them before meetings as well as moderate the discussions to reduce friction and become concrete with POCs and pilots rather than being a merely inspirational activity. By encouraging regular follow ups and clear feedback we enable all sides to form meaningful relations that often last way beyond the programme.”
“It is great to see the evolution of ITHM during these demanding times, catering to the most timely and urgent challenges with the last Innovation Programme, H+, focusing on Digital Health and now NXT:”, endorses Johannes Wagner, Head of Startup Cooperation at Versicherungskammer Bayern and founding partner / board member of ITHM.
Gnam complements: “Our ever-growing network now consists of more than 25 venture capitalists, over 100 mentors and 200 alumni. But the most obvious validation for our work are the many collaborations between startups and our cross-industry partners, more than 75 of which we’ve been able to convey in 2020 alone”.
Adacta enables its clients build the ecosystems of the future but offering a digitalisation of insurance products and processes. We offer self-service tooling to empower insurance companies to do stuff on their own.
ambeRoad Tech GmbH
ambeRoad solves the problem of employees searching for information within large organisations for hours. We prevent the information from being “lost” within the server structures. With our solution we target every company with EMPL>50.
Apheris is a deep tech company on the mission to fundamentally change how
organizations collaborate securely and extract value from data. Our platform enables data scientists to train models and perform analyses on data owned by third-party organizations. Those organizations retain complete control over their data, and the privacy and intellectual property is fully preserved.
bsurance is a B2B2C InsurTech that enables insurers to provide fair and relevant insurance products at the Point of Sale of B2C partners. Our cloud-based insurance platform provides insurers with a seamless API connection to any B2C solution and takes care of the whole insurance management process.
Cauliflower provides a seamless understanding of high-volume multilingual customer feedback through an off-the-shelf web application and provision of technical interfaces to analyse content, sentiment and context in text data using Artificial Intelligence.
Hong Kong, Hong Kong
CoverGo’s fully configurable, modular, no code enterprise software solutions. Powered by 500+ insurance APIs, it allows companies (insurers, banks, MGAs and brokers) to improve policy admin & claims, build and configure insurance products faster, develop omnichannel distribution and more without a single line of code.
Credium offers a wide range of information on a specific property and its surroundings via a web interface (API) using an address or geocoordinates. For this purpose, 3D point clouds (LiDAR), aerial imagery (satellite or orthophotos), land registry data, cartographic data, and socio-economic statistics are processed in the background.
CyQuant provides SMEs and Corporations with a simple tool to understand, learn, and improve their cyber risk resilience. We use a risk-based approach to model cyber risk from company characteristics and vulnerabilities. Insurers will be able to connect to our platform to make an offer to their clients and non-clients.
Decentriq is a Swiss SaaS company, enabling secure data collaborations for enterprises. Using the latest advancements of Confidential Computing, the Decentriq platform bridges the existing trust gap between all data stakeholders in a fully secure, seamless and zero-trust manner.
DeepOpinion is a deep-tech startup, that offers a low-code text intelligence platform for enterprises based on proprietary deep-learning frameworks with which DeepOpinion managed to set a new state-of-the-art for various text classification problems.
Den Haag, Netherlands
Draivn is making UBI/BBI for fleets possible by introducing fully data agnostic product, capable of collecting vehicle/mobility data from any data source and converting it into advanced analytics and mobility tools for motor insurance companies, brokers and OEMs.
Evermood is a B2B SaaS solution that helps organizations to create a culture where employees feel valued and supported at all times. Our scalable, low-cost and data-based approach enables HR departments to efficiently promote the development, health and wellbeing of their workforce.
Insaas is a software platform based on AI, linguistics and industry knowledge. We aggregate available customer voices from different sources to analyse and generate valuable insights to optimise the customer experience of products and services.
Keyless zero-knowledge biometrics solution eliminates the need to store and manage sensitive data, enabling businesses and financial institutions to adopt passwordless authentication, protect their remote workforce and enable strong customer authentication with just a look.
Kymatio is located in the pre-incident phase, strengthens the personnel of the companies, identifies risks, points out the most critical areas and provides recommendations for mitigation actions minimizing potential internal risks.
Delaware City, United States
LISA Claims is a technological platform in the cloud for the automated settlement of insurance claims using Artificial Intelligence for insurance companies and Banks that increases policyholder satisfaction (NPS), accelerating settlement time by 80% and decreasing by 60 % handling costs, incorporating Artificial Intelligence for fraud control and automated evaluation of economic adjustment.
Lovys offers an all-in-one protection platform to consumers. We already cover over 90% of consumers needs in insurance, from home-, car-, pet- to smartphone insurance. Our customers can subscribe, manage their policy and manage claims 100% digitally through Lovys website and App.
Loyee.io leverages Nobel-prize-winning behavioral science and machine learning to make employees thrive on change.
Lumnion develops AI based Insurance pricing and customer management Platforms. Our Risk Calculation Tool – Cheetah is designed to overcome the unseen and overlooked link between variables by human mind and empower decision making with multiple advanced machine learning algorithms for today’s challenging World.
Metta Space is a deep tech, B2B platform on a mission to eradicate sexual harassment from the workplace, through better reporting, case management and NLP. It includes a reporting app for employees, where they can report any type of workplace misconduct (in compliance with the EU Directive 2019/1937), but with a focus on sexual harassment. Hand in hand with the reporting app, there is a case management system for the company to have an overview and resolve reports. The third technology is an NLP algorithm to detect written harassment in real time in workplace communications.
Ninebarc provides data points through digital estate management. User are enabled to plan their inheritance, store date, and set up legal documents such as a patient decree or a will. Thus, creating an additional channel to boost sales and enhance the user journey.
Frankfurt am Main
Nuclicore enables insurers to build custom software much faster, less expensive and more reliably than with current approaches. Business employees can build software with our visual interface in days, not months or years. Key advantages: (i) projects can be realized despite cramped IT pipelines, (ii) existing insurer systems are used as they were, and (iii) no setup period/integration project is necessary.
Penni.io provides a technological platform that enables insurance providers to sell any insurance product online through any distribution partner. The platform is white-labelled and offers embeddable insurance, customer onboarding, sales reporting and conversion optimization.
London, United Kingdom
Photocert specializes in developing applications for insurers with the aim of automating processes while preventing fraud. More and more insurers are automating processes relying on visual information. We use best-in-class technologies, like object & text detection, AI for damage & value estimation, to enhance processes, along with our proprietary photo authentication technology.
Pulsifi provides enterprises with Predictive Analytics and AI to improve quality and efficiency in hiring and developing their people. Based on organizational psychology and data science, Pulsifi’s platform unifies multiple sources of data to understand each person holistically across hard skills and soft traits, and predict performance and fit to role and culture with over 90% accuracy.
Qantev has developed proprietary technologies to leverage historical claims data and deliver high impact decision making insights to insurers’ operational teams. From building high performing network of providers to helping in real time on complex claim adjudications, we have made large impact on the insurers capability to reduce their claim leakage.
Text 2 Knowledge
T2K brings together Artificial Intelligence and Natural Language Procesing to automatically and quickly extract knowledge from texts. By doing so, T2K allows businesses to integrate the results of cutting-edge AI research into their workflows and processes.
Vadis Technologies transforms public and private data to help its clients gain insights about counterparty risks. With our unique Data-Analytics-as-a-Service approach, we offer visibility on group structure through UBO, financial and non-financial risk scoring tools, insights on AML and fraud cases.
Virtual I Technologies
Virtual i lets insurance industry see the risks. We believe EACH risk should be seen and assessed before it is insured. We do Remote Inspections & Data-Driven (AI) Risk Assessment for Property Insurers with an intelligent platform for insurance underwriting and risk engineering (called Virtual Risk Space™ – VRS™). VRS™ is a B2B, SaaS-type solution for all players: insurers, reinsurers, brokers, agents and risk engineers.
Text: Markus Walter