HARTFORD, Conn. (PRWEB)
December 01, 2017
Hartford InsurTech Hub, powered by Startupbootcamp, unveils the 2018 cohort of startups for its inaugural acceleration program. Artificial Intelligence (AI), Big Data Analytics and Natural Language Processing combined with Cyber Security, Smart Home and Health Insurance, to name but a few, display the diverse range of technologies and insurance types that are exhibited by the group of 11 companies that have been selected.
The U.S. insurance market remains the largest globally and offers more growth potential than any other. Nowadays, in order to stay on top, insurers must embrace InsurTechs within their business and be able to adapt to a rapidly changing business environment, with consumers and agents wanting more and technologies becoming more pervasive. Fortunately, the U.S. continues to be the frontrunner in the InsurTech market with over 40% of InsurTech startups originating there, though the gap between the U.S. and European markets looks to be narrowing slightly. With the U.S. being the best place to raise capital and build ‘Unicorns’, programs, such as Hartford InsurTech Hub, basing themselves in the country means that the U.S.’ hold on the InsurTech market is secure.
The 11 successful teams, selected from an initial aggregation of 1,000 applications, will relocate to Hartford ready for the start of the program in January, and will remain for its three-month duration. For the startups themselves, joining the program means they will receive the support, resources, and industry and investor connections they need to help grow their businesses. With support from Startupbootcamp, the teams will be provided with access to an extensive range of partners, mentors, and investors from across the accelerator’s global network.
The 11 startups who will join the first Hartford InsurTech Hub acceleration program and work closely with Hartford InsurTech Hub’s insurance corporate partners: Cigna, The Hartford, Travelers, USAA, White Mountains and CTNext are:
Aureus Analytics, from India, is working to improve customer retention, loyalty, and lifetime value through the use of Artificial Intelligence & Machine Learning.
- Boundlss, from Australia, has developed an analytics platform that analyzes data from wearable devices and apps to…