First of all, a huge „Thank You“ to all startups that signed up to be part of our W1 Forward InsurTech Accelerator Program.
We where overwhelmed by the high amount of participants we received from all over the world. Germany, Australia, Ireland, Canada, USA, China, Spain… Over 40 startups send us their ideas and work and every single one of them had an incredible potential.
Unfortunately, only a small amount could be chosen for Selection Day and only 5 could be finalists and take part in the program.
It was a tough choice, but it had to be made.
8 startups were invited last week to our Selection Day, where our insurance partners sat down in front of the stage to listen carefully to their pitches. Each pitch was followed by a 5 minute question round in which the insurers could ask the startups any questions ,doubts or unclear issues.
Once the question round finished, the insurers would send us their vote.
One and a half hours later, both startups and insurers could enjoy a bite and a few drinks while networking and engaging in conversation. During this time, it was up to us, the WERK1 team, to sum all votes together, so that we could announce the 5 startups that would move into WERK1 and take part in the program.
These are the 5 finalists:
Leonhard-MacDonald Ventures specializes in real-time big data business intelligence solutions that provide instant insights and predictions using our proprietary combination of machine learning algorithms and state of the art big data technologies. We enable our customers to leverage all their data to make faster, more informed decisions to maximize returns and minimize risks. ADA Insur enables insurance professionals to perform fraud detection, advanced risk modelling and real-time predictive analysis in a powerful and intuitive way.
MotionsCloud provides mobile claims solutions for insurers & claims expert in space of property & household insurance.
Using Machine Learning based algorithms and the “Power of Parallelization” huge amounts of risk related data is automatically used to give an insurance company a deeper insight in their risks. Due to the detailed insight in the risk structure marketing, sales as well as other insurance business processes will be improved. But not just the available data in the portfolio is used, furthermore also external data like for example social media and retail is used to improve the quality in risk assessment, underwriting and other business processes. All this is done in real-time.
With Snapsure, the users make snapshots of those things that they want to insure. After that, we analyse the objective and subjective user-data automaticaly in an image recognition, product matrix and product calculation API. As a result, Snapsure presents the user the best insurance-offers for his snapshots. This all only in a few minutes. Now the user can select the best insurance solution for his product and close the contract online in the app. Snapsure – quick, easy and uncomplicated.
Unica is a highly secured digital privat box for personal confidential and complex data. All data can be transfered with only one single personal number. It simplifies the conclusion of contracts. Also the digital verification will be increased by a new developed Trust Level.
Only thing left to say is „Welcome“!
We are looking forward to have them in our building and see the amazing things they are creating to revolutionise the Insurance industry in the coming 6 months!