The world of InsurTech moves fast.
Only ten months ago, in June 2016, Startupbootcamp InsurTech started scouting the world for the best InsurTech start-ups. Five months ago I joined them as they selected their final cohort and then took them through the gruelling acceleration process. Last week, on 26th April, the start-ups took to the stage at the O2 in London and pitched to over 850 insurers, investors, mentors and others to explain how they're going to change insurance.
The event kicked off with live music (fitting as the stage had recently been filled by Justin Timberlake) and then it was down to business as the start-ups began pitching their wares. I have no idea how they must have felt as they strode out into that cavernous venue, I was nervous just watching them! But none showed their nerves; the late, pizza-fuelled nights were worth it, as one by one the start-ups came out to showcase their ideas with skill, enthusiasm and precision.
It was a fantastic conclusion to the programme, and the buzz around the venue (and crowds forming around each of the start-ups) as networking began was further indication of the success of the day. I’m sure many of the conversations held on that day will lead to big and bright things!
A lot of people put in a lot of work to get to demo day but the event was not only testament to the tremendous efforts of the start-ups, Startupbootcamp team and their supporters but also to the meteoric rise of InsurTech itself. With over 850 people in the audience and many, many more tuning in live on Facebook it seems clear that hearts and minds have been won: the world recognises that InsurTech presents a huge opportunity.
For me personally, it has been a fantastic programme to be a part of. I have learnt a huge amount, been pushed out of my comfort zone and made some good friends too. Whilst I won’t be lucky enough to stay with the Startupbootcamp team for much longer one thing that certainly is here to stay is InsurTech. I’m looking forward to remaining a part of its journey as I turn my attention to writing a trend report that looks at how InsurTech has developed over the past year. Look out for it at the start of July.
If you missed it, feel free to watch the demo day aftermovie and a get a taste of what the day was like.
This is a companion discussion topic for the original entry at https://pwc.blogs.com/fintech/2017/05/insurance-accelerated.html