Swiss insurance company Zurich Insurance Group has announced the eight finalists that will go through to the final round of its Innovation World Championship. The global insurtech competition saw more than 450 insurtech startups from 49 different countries enter the ring in the hope of winning financial and marketing assistance from Zurich to bring their unique individual offerings to market.
The finalists were: Zesty.ai from the US, which utilises machine learning to model catastrophic and attritional loss events for property insurance purposes; Canadian startup Chisel, which applies AI and natural language processing to insurance documents and other unstructured data sources; Nubihome, an Argentinian company that analyses customer data collected from smart devices; Colombian LifeNome, which produces personalised wellness programmes based on DNA analysis; Shayp from Switzerland, which assesses water loss from homes, buildings and infrastructure so that insurers and maintenance personnel can be alerted; Portuguese Habit Analytics, an analytics program developed for Internet of Things devices in order to aid in underwriting and improve customers’ insurance experience; Vymo, an Indonesian startup that provides a virtual personal sales assistant to aid sales representatives; and Soldier.ly, an Australian app for smart watches that tracks biometric data, looks for signs of stress and provides the user with calming exercises accordingly.
“The ZIWC startups presented truly ground-breaking ideas and technologies in all four corners of the world,” said Zurich. “In the area of digital health, we have been presented with a consumer smart watch initiative to help people experiencing mental stress or to provide personalised lifestyle recommendations. Furthermore, we have seen how through the latest advancements in computer vision and deep learning on over one hundred billion data points on residential and commercial properties, key risk factors for loss events can be modelled. And even an inspiring, ambitious goal to save 100 billion litres of water by 2020, complimenting our flood resilience programme.
“The eight startups, with products and services that could help to revolutionise Zurich’s business, are due in Zurich at the end of January for the final Global Round, when they pitch their ideas to global executives and stakeholders. We plan to announce the three well-deserved winners of our inaugural global startup tournament on 30 January, and wish our eight finalists the best of luck as they enter the Global Round!”