With dozens, if not hundreds, of insurtechs jockeying for attention from investors, carriers and more, founders and employees have to be ready to sell their solutions as innovative with a moment's notice. At the recent Insuretech Connect conference in Las Vegas, Digital Insurance editors asked several startup representatives to give their best "elevator pitch" -- or, summation of the brand that can fit in an elevator ride and pique an executive's interest. Here are some of the answers:
“MassUp is about specialty insurances. We develop our own product for gadgets, bikes, pets and many other personal goods. We operate as a digital MGA to fulfill everything you need from buying and paying for a policy to settling claims.” –Fabian Fischer, Founder & CEO
Player's Health
“We created a clinical risk management platform for sports organizations. Is the organization, i.e. amateur sports, soccer club, football club, managing the health and wellness of their athletes properly? We have a platform that tracks if the organization is following best practices—such as safety guidelines around concussion management. Our platform tracks all of that and then we share that data with insurance companies to better underwrite what we call the small business organization market.” – Tyrre Burks, Founder & CEO
“We provide custom managed claims through a white labeled software-as-a-service platform. So you as a consumer can go to your insurer’s website, click a button and launch a full digital claim. You can upload pictures, documents and there are three key metrics we deliver on. We take a claims journey that on average takes 20 days and we can shorten it to less than three hours, depending on your documentation. Our average is taking a claim from 20 days to five. Claims handlers within the insurer are 10 times more productive using our platform than the current platforms they use. They pay out less and they increase customer renewals by 62%.”—Graham Blaney, Co-founder & COO
“Mobileye is the global leader in advanced driver assistance systems. We supply both the OEMs as well as an after-market fleet product to retrofit existing vehicles. Our aim is to reduce collisions and crash costs among fleets and any individual with a vehicle. For the insurance side of things, we partner with companies to provide packages that include our product bundled with premiums.” –Travis Sanders, regional sales manager
“Appian is a low code platform on which organizations can rapidly configure applications that dramatically improve how you work and function. [Our] applications integrate and leverage your systems of record for purpose of making that information visible and actionable.” –Matt Workman, account executive
"We are an insurtech platform using on-demand live video, and we make claims easy -- Lionel Ritchie style." --Jen Friel, CMO