Annual innovation competition will award cash prizes up to $10,000
HARTFORD, CT, September 14, 2022 – InsurTech Hartford, an InsurTech ecosystem with global startup, agent/broker, insurer, solution provider, and investor constituents, today announced entries for the annual Innovation Challenge, presented this year in conjunction with ACORD, the standards-setting body for the global insurance industry, are being accepted via the website.
The Innovation Challenge is designed to draw out groundbreaking ideas from entrepreneurs, students, and experienced professionals from around the insurance industry. Innovators worldwide are invited to submit insurance technology companies (InsurTechs) for consideration by a panel of industry experts. An eight-week process of gathering and reviewing submissions will lead to pitch sessions in front of a judging panel. Finalists will present to a global audience at a virtual awards event on Thursday, November 10, where the challenge winners across several different categories will be announced.
The winners of each category will be awarded cash prizes up to $10,000. Insurers, brokers, and other stakeholders from across the industry are able to engage in the process by sponsoring customizable prize funds, which allow them to tailor a winning innovation to solve specific business needs and those of the wider insurance industry. Last year’s winners in each category were CoverHero (Best Emerging InsurTech), PainWorth (Travelers Emerging Product), and Otonomi (Judges’ All-Around Favorite).
Since its inception, InsurTech Hartford’s annual Innovation Challenge has received hundreds of submissions, and past winners have collectively raised over $25 million in venture capital following success in the competition. Since 2015, ACORD has also brought together hundreds of industry innovators in global InsurTech Innovation Challenges, in order to seek out, promote, and nurture sustainable technological innovation in the insurance industry. Recent ACORD InsurTech Innovation Challenge winners include handdii, Intelligent AI, Micruity, and Virtual i Technologies.
Submissions for the 2022 Innovation Challenge are open through October 14. To learn more about the Innovation Challenge or to sponsor the event, visit insurtechhartford.com.
About InsurTech Hartford (ITH)
InsurTech Hartford (ITH) is a thriving InsurTech ecosystem founded in 2016 with global startup, agent/broker, insurer, solution provider, and investor constituents. With a proven track record of creating industry engagement and collaboration through high-impact networking events, conferences, virtual education, and innovation initiatives, ITH draws a dynamic, executive-level audience from all lines of the (re)insurance business. For more information, please visit www.insurtechhartford.com.