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ITA Pro Weekly, March 18,2021

AI humor, early-stage winners, $3 mil GloveBox infusion

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Hot off the presses!

During the last year, rapid advances in data, AI, and cloud solutioning have accelerated, and for insurance, a portfolio of AI assets is making everything more DIY than ever before. Marty Ellingsworth of Celent looks at how chatbots and other AI advances are making things easier for consumers – without replacing the need for the human touch.

“Letting people interact directly in a protected fashion with self-service channels in a personalized fashion has only seemed to widen hours of availability, lower operating expenses, increase transparency, improve communication, decrease cycle time, eliminate travel, enable social distancing, establish authentication and verification of identities and data, create faster payments, and improve satisfaction.”

 

From omnichannel to digital transformation to AI, the InsurTalk podcast from Guidewire brings you expert insights from people who have driven innovation and turned possibilities into realities. Check out the first few episodes, featuring leaders from Aviva Italy, Economical Insurance, WSIB, and Farmers Insurance.

 

InsurTech NY announced the winners of its 2021 Early-Stage InsurTech Competition at the InsurTech Spring Conference. Winners were selected by judging panels grouped by their background - angel investors, venture capitalists, carrier and brokers, and the Bermuda BDA. The winners received prizes worth $200K in total.

"We are proud to highlight the 2021 global winners," said David Gritz, Managing Director of InsurTech NY. "Helping high-potential early-stage startups 'get discovered' is necessary to foster a dynamic and sustainable insurtech ecosystem."

GloveBox, a single sign-on mobile platform that brings together insurance agencies, policyholders, and carriers onto one platform, today announced a $3 million early-stage investment. The round was led by Mercato Partner's Prelude Fund, with participation from Heffernan Insurance Brokers, a top 20 agency out of California, and other industry veterans.

"As former insurance executives, we know the issues facing smaller, independent carriers, including the lack of technology at their disposal," said Ryan Mathisen, co-founder and CEO of GloveBox. "With this funding, we will dramatically expand and accelerate our platform development reaching more agency partners faster and more efficiently.”


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