In December 2016, three South African InsurTech startups were selected from over 633 applications around the world to join the three-month international startup accelerator programme Startupbootcamp InsurTech in 2017.
Startupbootcamp InsurTech 2017 Demo Day taking place on 26 April 2017 will see Aerobotics, Emerge, NuvaLaw and seven other startups celebrate the transformation they have gone through and the results they have achieved since the beginning of the programme in January 2017.
Themed Synthesis: Shaping Intelligent Insurance, Demo Day 2017 will highlight how through collaboration and focused engagement, a bridge is being gradually built to connect two converging worlds by fusing the traditional and the new, incumbents and startups, through the support of digital technology and new ways of doing things.
Sabine VanderLinden, Managing Director of Startupbootcamp InsurTech: “The startups have dug deep to define their Minimal Viable Product and refine their business propositions in order to best serve their customers and the insurance market. They've met with our corporate partners on a weekly basis to adapt their offering to satisfy specific pain points. They've done countless amounts of customer validation where they've left the office to test their product with real customers. As we get close to Demo Day, we are listening to the startups rehearse their pitches and it's been amazing to see the teams evolve each single week. I am confident they are not only going to put on great presentations on Demo Day; they are also going to do so well beyond that.”
Laurence Rau, Co-Founder of Emerge (previously Emerge Analytics): “Emerge has had such a valuable experience at the Startupbootcamp InsurTech accelerator. During our time here the excitement we have seen about our offering has validated our vision of ‘solving the world’s biggest problems with data’. We are focusing on insurance first and over the next few years hope to start solving problems across multiple other industries including Healthcare, Banking, Retail and others.”
James Paterson, CEO of Aerobotics: “It was a great privilege to be part of the Startupbootcamp InsurTech program, representing SA on a global playing field. The access to new business partners and the skilled team on hand at SBC have helped us rapidly enter a new market and expand internationally. We are excited to return to SA to continue our product roll out through Africa and the rest of the world. We return with the confidence that the tech scene in SA is thriving and very much competes on a global level.”
Willie Pienaar, CEO for NuvaLaw: “Startupbootcamp InsurTech gave NuvaLaw a significant kickstart. Three months of working intensively on our company, and not just in our company has resulted in a much clearer vision and long-term strategy. More importantly, the networks we were exposed to have resulted in deals which catapult us into month 24 of our original business forecast. The claims and dispute resolution solution we have co-created with international partners will mean we return to South Africa with a world first for the local market. South Africa has always been in the vanguard of insurance innovation. We see ourselves being an integral part of working with our local companies to reap the rewards of the ecosystem economy.”
Laurence Rau adds: “I am so grateful to MMI and Exponential Ventures for recommending we apply for the programme and for their ongoing support. During the programme we have worked closely with the Exponential team to prove the value we can create with MMI’s data. Developing this relationship is the thing I am most looking forward to about returning to SA. We are certain that together we will create exponential value for both businesses.”
Jaco Oosthuizen, CEO of Exponential Ventures says he is very excited about the achievements of the startups over the past few months. “The acceleration programme is physically and emotionally exhausting. In three months, the startups are put through what would usually take over 18 months to achieve. I look forward their presentations on Demo Day and am especially excited about what our South African startups will be bringing back to the country in support of Financial Wellness of individuals, businesses and communities.”
Demo Day will be livestreaming on Startupbootcamp Facebook on 26 April 2017 starting at 14h00 BST (15h00 SAST).
Further information on the startups click here.
Launched in 2015, Startupbootcamp InsurTech is a global accelerator based in London that focuses on disruptive and collaborative insurance innovation. Its intensive three-month program provides startups with mentorship, an extensive network of insurers, angel investors, and VCs, and other valuable resources to enable them to collaborate with an ecosystem of market experts and to design unique propositions that provide solutions for the insurance market. Startupbootcamp InsurTech’s partners include Admiral, Allianz, ERGO, Exponential Ventures, HDI, Intesa Sanpaolo, Lloyds Banking Group, LV=, Metropolitan, MJ Hudson, MMI Holdings, Momentum, Munich Re, PwC, Route66 Ventures, Scottish Widows, Swiss Re, Talanx, Tryg, and UnipolSai. It is part of the global award-winning Startupbootcamp, a network of industry-focused startup accelerators.
Founded in 2010, Startupbootcamp is a global accelerator network with 15 programs in Amsterdam, Barcelona, Berlin, Istanbul, London, Miami, Mumbai, New York, Rome, and Singapore, and a 3,000+ strong mentor and alumni network in more than 30 countries. More than 330 startups have been accelerated by Startupbootcamp worldwide, raised over €150 million and achieve a combined valuation of more than €500 million. 80% of these startups are still active.
Exponential Ventures is a disruptive innovation capability powered by MMI Holdings Limited. Exponential Ventures explores scaler opportunities where technology-based businesses, which when combined with MMI’s assets, show meaningful potential to rapidly generate exponential growth in revenue and profit. It looks for optimiser opportunities where technology-based businesses have the potential to deliver significant efficiencies for MMI’s existing business. Exponential Ventures pursues venture developer opportunities that reach new markets, meet new needs, leverage new business models and show the potential to fundamentally disrupt the insurance market space over longer time horizons.
MMI Holdings Limited (MMI) is a South African based financial services group listed on the South African stock exchange, the JSE. The group operates in the market through multiple client-facing brands providing Financial Wellness solutions including insurance and investment brands Metropolitan and Momentum, South Africa’s number one cell captive insurer Guardrisk and wellness & rewards programme Multiply. MMI operates in 15 countries, 12 in the African continent, Hong Kong, United Kingdom, and India through a direct presence, strategic partnerships and joint ventures.