Bunker (Broker)

Bunker saw a pain point and found an opportunity.  Most contractors get GL policies when they have to, and let them lapse when they're no longer needed.  It's a headache for most institutions, companies, etc., to make sure their contractors have polices in place as well.  Bunked provides on-demand coverage for contractors and small buisnesses, and makes it easy for institutions to see who is covered and who is not.

Here's what they say about themselves on LinkedIn:

Removing Barriers to Business Relationships by Embedding Insurance into the Contracting Process. 

Bunker is a technology platform that automates insurance certificate tracking, in addition to a licensed digital broker that delivers the exact insurance a small business or freelancer needs, at the moment they need it. We're able to reduce the time needed to comply with complicated insurance requirements by days - and in many cases it only takes minutes through our proprietary usage-based business insurance policy. 

Here's thier website:

buildbunker.com

Jetty (Personal)

Being one of the rare exception, Broker Gizmos was aware of the renters deposit PASSPORT product by JETTY, before the renters offering itself.  Partially our of necessity, and possibly out of curiosity, we decided to pick-up a JETTY renters policy. The experience was freaking smooth. 

The thing that stuck out the most about the renters experience was they made it very clear you had some coverage from the standard policy, but you SHOULD get extra coverage to make sure you're properly covered for things like jewelry or electronics, should you actually need to use the policy.  Having a Property and Casualty background, we were very happy to see this.  You want an insurance policy to do what it's supposed to do.  By putting the extended coverage up-front and making it clear why you need it they're doing a great service to their customers.

Their PASSPORT product is very cool too.  It helps landlord and customers get security deposits covered, it's the cosigner you may not have, and they're willing and able to work with landlords on the customers behalf to make the process smooth.  In a world of skyrocketing rents, and usually a one sided relationship, it's awesome that JETTY is helping people get into places they'll love and cover them ponce they're there.

Here is what JETTY has to say about themselves on LinkedIn:

Jetty is a financial services company that designs products and solutions that help people reach their goals faster by removing obstacles and risks. Currently, Jetty focuses on solving the problem of renting a place through a novel offering of financial services and insurance products that reduce headaches for consumers and property managers. Offered in combination or à la carte and accessible over any digital device, Jetty products are widely available across the United States; the Company aims have its offering available fully nationwide within 2018. Ready to Jetty? Visit us at www.jetty.com.

Everledger (Carrier)

This is a very cool company.  Companies like it inspired this website, and have stoked the intrigue of insurance Technologist around the world.  We may not be many, but we're a global bunch!

Everledger started with tracking diamonds on blockchain, a very cool pairing.  Having tracked over 2 million diamonds to date, everledger is now tracking coloured gemstones, wine and high value art, and various other industries.

What they say about themselves on LinkedIn:

About us
Founded in 2015, Everledger is a leading global enterprise that tracks the provenance of high-value assets on a global digital ledger.

Emerging technologies including blockchain, smart contracts, IoT and machine vision have been harnessed to create solutions for encrypting the immutable provenance of an asset through a distributed ledger platform. The core characteristics of blockchain technology combine with other technologies to form a hybrid model for innovative and effective solutions.

These technological solutions are developed and deployed to markets where provenance matters, providing stakeholders across supply chains with an immutable history of an asset’s authenticity, existence and ownership. This asserts transparency at every stage of the supply chain process which serves to mitigate global risk and fraud challenges faced by stakeholders such as insurance companies and banks.

Everledger started off with tracking diamonds on the blockchain. First, a unique set of data points is extracted from a diamond to create a digital thumbprint.  It is then encrypted on the blockchain permanently, with each movement along the supply chain subsequently encrypted onto the same blockchain throughout its lifetime journey. 

From there, a clear audit trail is provided, to be used by multiple parties throughout the supply chain to verify authenticity and identify chain of custody. 

To date, Everledger has the provenance of over 2 million diamonds cryptographically-certified on the blockchain. 

The Everledger solution has also been introduced into the world of coloured gemstones, fine wine and art, among other industries. It will continue to expand into industries where provenance and certification is paramount to authenticity and value.

Awards and Honors:

- Winner, Open Talent Competition: BBVA Europe 2015
- Winner, Innovation in FinTech: Meffy Award 2015
- Winner, Best in Show: FinTech Finals 2016
- Winner, Best Blockchain Company 2016 : European Financial Technology Awards
- Winner, Best Newcomer 2016: Asia Insurance Technology Awards Hosted by Celent
- Winner, Innovator of the Year- Penrose Award 2016: London Innovators
- Winner, Best B2B Startup, 2016 Digital Top 50 Awards: Presented by Google, Rocket Internet and McKinsey
- Winner, London Global Open Innovation Business Contest 5.0 2017: Presented by NTT Data
- 3rd Place in Smart Dubai's Global Blockchain Challenge
- Winner, Innovator of the Year 2018: Women in IT Awards
 

Their Website:

Everledger.io

Slice Insurance (Customer)

It makes sense that Slice is out of New York, they cover such a cool market-space, real time "sharing economy" insurance, rideshare and homeshare.  Task-based jobs such as handymen, house cleaners, dog walkers are some of the ideas they have coming up.  They offer peace of mind while you're trying to make side cash in the sharing economy, for only a few dollars, or Pounds soon, as they've made a partnership in the UK to start offering their sharing economy insurance overseas.

It is very interesting to watch InsurTech's get legs in the US (Lemonade) and then take the models globally.  We'll be watching that trend at Broker Gizmos.  We'll also watch down the road to see if InsurTechs are backed with their own reserves, or have a larger institution or reinsurer supporting them.  It'll be fascinating to watch this space mature, it appears that a blending of the new and old guard is in the not too distant future...

Here is what Slice has to say about themselves on LinkedIn:

About us

Slice Labs provides on-demand pay-per-use insurance for the on-demand economy. It's acquired with the tap of a smartphone app and billed directly to your credit card. It couldn't be easier! Best of all, it works the way you work in the on-demand marketplace –– you only pay for the insurance you need, when you need it. We are bringing trust, protection, and safety together. There's a new way – be a part of it.

slice.is

DataCubes Inc. (Broker)

Already embraced by the press, Insurance Thought Leadership, VC News Daily and Chicago Business (among others), DataCubes Inc. is transforming the underwriting process, creating 10x efficiencies in research and improving loss rations.

DataCubes is able accomplish this by embracing data science to pull hundreds of data points into one clean report, allowing for quick effective decision making.  The admin workload is 60% less through the prefilled data they provide as well, saving time for underwriters and allowing them to truly analyze the risk, not get buried in paperwork.

Here is what they say on LinkedIn about their company:

About us

DataCubes is the first data science platform for commercial underwriting. DataCubes helps carriers improve customer engagement, underwriting productivity, and profitability. DataCubes' platform uses data science to eliminate paperwork, provide a holistic view of risks by analyzing a broad array of internal and external data sources, and score and prioritize commercial risks.

Here's their website:

datacubes.com

HazardHub USA (Carrier)

HubHazard caught our eye because it is at the core of what insurance is all about, being prepared for a sudden and accidental event, they keep an eye out for the big boy risks too.

HazardHub collects info on catastrophic and non-catastrophic but still dangerous risks, and gives free personal lines consumer reports, and consults commercial companies.  These major "Black Swan" events are more and more common these days, and HazardHub gives a breakdown of the likelihood of these instances effecting your home or business, with reports on everything from underground storage tanks, feet to the true coastline, and feet from a fire-hydrant.

Here's what they have to say about their own company on LinkedIn:

HazardHub creates third-generation geospatial risk databases for the continental United States. We build databases for -

Air - Tornado, Straight Line Wind, 2" Hail, Hurricane
Fire - Wildfire, Fire Protection Class
Water - FEMA Flood, Distance to River/Stream, Storm Surge, Tsunami
Earth - Earthquake, Distance to Nearest Fault
Human - Superfund, Brownfield, Fracking Induced Earthquake

Want to see how your property measures up? Enter your address into our consumer site, www.freehomerisk.com, to get a report card on a location. For free!

Here's their website: hazardhub.com

Friendly Agent Bot (Broker)

Independent agents have had good reason to be worried about InsurTech, and major carriers going direct to consumers.  Luckily though, companies like Friendly Agent Bot are coming to the rescue!

With AI bots assisting local brokers, just like the major carriers would, they're allowing the little guys to play like the big boys.  With these bots handling simpler tasks and conversation, it frees up time for agents to connect with customers on a deeper level.

Here's what they had to say in their "about" on their own website:

Insurance Agents/Agencies/Brokers

• We have ready to install Chatbots for multiple lines of businesses which can be configured based on your business need
• We can create Chatbot specific to your business needs
• Run marketing campaigns using online channels like Facebook Ads/ Google ads.

Insurance Buyers

• We can connect you to Insurance Agent who can help you in finding insurance which meet your need at best price.

Here's their website:

friendlyagentbot.com

We Go Look (Carrier)

This isn't a cool tool as much as it's an interesting development around the insurance community.  National carriers, down to super regional carriers might find great use for We Go Look though.

Starting as a company with the idea of checking out an eBay product before purchase, We Go Look quickly found a home in the insurance space.  Though they still inspect heavy equipment (for financing usually), preform notary services, and help with other various white collar tasks, their recent 85% acquisition by a global insurance adjuster company (Crawford and Co.) shows just how bit insurance is to their bottom line.

What's really interesting about this company is that they simply use the geo-location and time-stamp features of a smartphone to help anyone freelance on call like Uber,  I think it is a great way to help serve rural spaces be surviced better, and it'll help level up servicing claims after a disaster.  You'll still need seasoned adjusters for nuanced issues, but We Go Look will help get insurance clients served more quickly.

Here's their website:

WeGoLook.com

@WeGoLook

Here's their about us from LinkedIn:

WeGoLook is mobile technology company featuring a crowdsourced platform of 30,000+ "Lookers" nationwide to complete on-demand field services, including inspections and custom tasking. Our agents, known as "Lookers", collect field data, photos, and video via the WeGoLook mobile app and/or complete custom tasking, such as item pickup, delivery, document research and more. WeGoLook specializes in verifying autos, properties, boats, heavy equipment, antiques, electronics, furniture, RV’s and other assets. WeGoLook has expanded to international markets, including the United Kingdom, Canada, and Australia with other countries soon to follow.

Broker Lift (Broker)

Broker Lift wants to enable brokers to digitally sell insurance online.  They are carrier agnostic and want to help brokers compete with the Lemonades and MetroMiles of the world, through their rented online quoting and binding portals for lower cost policies (renters, events, small BOPs, etc.).  If a carrier will let you bind online, Broker Lift wants to make it easier for your customers to buy online.  Brokers and insurance commentators were scared "InsurTech" was going to come along and eat their lunch, BrokerLift is a company in the space that'll help brokers fight back.

The founders have insurance and consulting background.  They saw that their original offering for a tech enabled insurance sales product was going to be too bulky for most shops to implement, so they've created a Swiss Army Knife to enable all types of polices to be white labeled and sold online, allowing brokers to stay in the forefront of their policy sales.  The core of the team is a Canadian based start-up, they have joined a Bay Area incubator.  It will be fun to watch their growth in 2018.

Here's their website:

brokerlift.com

@BrokerLift

Here's their about us from LinkedIn:

BrokerLift provides a turnkey eCommerce platform for insurance brokers to instantly enable online sales and service to their customers. As a purpose-built managed Software as a Service (SaaS) solution for the insurance industry, the BrokerLift platform features both highly secure and completely flexible technology.  BrokerLift is fast becoming the eCommerce partner of choice for Insurance Companies.

Ask Kodiak (Broker)

I had heard of Ask Kodiak a while ago, loved the name, but was never entirely clear on what they did.  Once I get their value proposition it seemed so simple and helpful, Ask Kodiac helps brokers realize carrier risk appetites.  The bear made so much more sense too!

The value of a broker should be that they have multiple companies they can place policies through.  Through human nature though, they often connect with a few houses, and send business through the channels where they have relationships or know the system.

In my humble opinion, Ask Kodiac helps brokers get back to their job, by empowering them to realize who wants to work with their clients policies and truly find the best fit.  There was a lot of fear around the insurance industry that tech was going to replace independent brokers, this is one tool that will help them add more value than ever.

Here's their website and twitter handle for more info:

askkodiac.com

@askkodiak

Here is Ask Kodiak's about us from LinkedIn:

AskKodiak is organizing commercial insurance. Brokers get a really simple (and totally free) way to search for eligible carrier markets. Carriers get a digital marketing platform that gives them some unique analytics about what agents and brokers are searching for and some easy-to-use tools to feature their products. It's way better than the Sharepoint portals, territory manager visits, and email blasts of the past. 

Risk Genius (Broker)

Based out of Overland Park Kansas, Risk Genius is examining policies through machine learning (artificial intelligence) for comparison. 

No more cutting docs and placing similar portions on a desk to examine risk, or pouring over policies for hours with tabs and highlighters looking for similarities, since there isn't a standard form.  And document review is just the beginning for risk genius, they want to become a source of doc creation, analytics and compliance.

This technology will help break through the vagueness that's been built into the industry over the years.  It's help brokers really get down to the meat and potatoes of what matters to clients.  Please checkout their site and follow them on twitter below:

RiskGenius.com

@riskgenius

Here's is RiskGenius's about us from LinkedIn:

Nearly instant policy analysis.

RiskGenius leverages patent pending Policy Analytics technology. Each insurance policy is separated into clauses, which are then categorized based on common industry terminology. Users can then instantly locate key clauses across one or more policies, streamlining the review process.

Broker Buddah (Broker)

I was introduced to Broker Buddha by Ryan Hanley's Agency Nation podcast, easily one of the top podcast on insurance and marketing.

RightSignature is a great app for getting docs signed, I've loved using it.  Broker Buddha takes that, or Doc U Sign, to the next level.  They allow you to be able to pre-populate insurance forms, take out un-needed sections, or repeat (reminds me of TaxAct) forms from a year before but make needed headcount or revenue edits.

Apart from the direct form features themselves, BrokerBuddha will have reminders to your clients for the docs, and integrate to your agency management system to avoid double entries. This technology sounds like it'll help cut out the last generation motions (driving to a customer, entering in data manually) and enable deep connections  and more thorough work.

Here's their website for a deeper dive:

brokerbuddha.com

@brokerbuddha

It tells the state of the company more thna anything, but here's their LinkedIn about us:

We're in private beta at the moment. Stay tuned for more news from us later this year. Get in touch with cyrus@brokerbuddha.com if you'd like to learn more.