Sponsoring Agency: InsurTech Hartford
Type of Fund: Challenges, Competitions or Prizes
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 05/14/2021
Size of the Fund: Less than USD $50,000
InsurTech Hartford is seeking applications for its 2021 Global Insurtech Innovation Challenge to draw out ground-breaking ideas from entrepreneurs, students, and experienced professionals with intent to enable forward momentum beyond the end of the contest.
The mission of InsurTech Hartford is to incubate a robust insurance technology ecosystem by bringing people together, educating, and promoting startup growth in the Hartford region.
2021 Challenge Categories and Prizes
• Travelers Emerging Product – $10,000
o In an increasingly evolving landscape, Travelers is looking for InsurTechs championing new and emerging products within the insurance and risk services space.
• Judges All-Around Favorite Award – $10,000
o An open category which a panel insurance experts and InsurTech investors will choose based on problem statement, problem/solution fit, feasibility, and ability to disrupt.
• Best Emerging InsurTech – $7,500
o Being an early stage startup isn’t easy. This category is for new, emerging startups with less than $1m in combined revenue and capital invested.
Eligibility Criteria
The Challenge is open to any individual aged 18 years or older, or any company with gross revenues of $1 million or less, as of April 1, 2021 from anywhere in the world, except where prohibited by law, who are able to present live at an awards event. In the contest application, Contestants must identify a problem or challenge in the insurance industry and submit a well-defined written concept, with supporting documentation, for a product or service that addresses the solution to the problem or challenge. Finalists must be able to present the solution and a prototype for the product or service during a live pitch at the Challenge awards event. Owners, employees, directors, officers or agents of InsurTech Hartford, Sponsors, and members of their immediate families (parents, children, siblings and spouses) and households, are prohibited from entering the Challenge. The Challenge and eligibility are subject to all applicable federal, state and local laws and may be void where prohibited by law. No purchase is necessary to enter the Challenge.
Judging Criteria
Applications, prototypes, and live pitches will be judged by a panel of judges based on the following criteria (subject to change):
• Clarity of Problem
• Problem / solution fit
• Feasibility
• Disruption to the industry
Applications, prototypes, and live pitches should address each of the above categories and include the following:
• Identification of a problem or challenge in the insurance industry;
• A well-defined concept for a product or service that addresses the solution to the problem or challenge; and
• A prototype for the product or service
More information at: https://www.insurtechhartford.com/innovationchallenge/
