Zurich Innovation Championship names its 2020 finalists
The finalists bring "bold ideas to address challenges of the next generation," says Zurich.
Eight of the world’s “best and brightest” startups have been selected as finalists for the Zurich Innovation Championship 2020 and will advance to the competitions’ final stage this October.
In its second year, the championship is designed to create collaborations between Zurich and Insurtechs to find innovative solutions that can enhance customer service. When announcing the 2020 edition in September of last year, Zurich called for “bold thinking and groundbreaking ideas that can help make a lasting impact in a changing world.”
The competition started with nearly 1,400 entrants earlier this year. Twenty-five contestants were then chosen by Zurich businesses to work with them in a “Proof of Concept” phase, the insurer said in a press release. The eight finalists were then selected from the group of 25.
“The Zurich Innovation Championship is about much more than creating new insurance solutions,” Stuart Domingos, head of group innovation at Zurich, said in a statement. “These startups and entrepreneurs are bringing enthusiasm and creativity to the task of solving some of our world’s most pressing challenges. Together, we intend to offer our customers worldwide in new ways to help build a sustainable and efficient future.”
The eight finalists from Zurich’s four regions of business include:
North America
Jupiter Intelligence. This startup provides catastrophic risk modeling with risk-focused and actionable climate-related insights.
ClaimFlo. ClaimFlo powered by Safekeep is a rules-driven, straight-through processing platform that uses machine learning to increase efficiency and cost-effectiveness in identifying and processing P&C claims for investigations and recovery.
Asia-Pacific
Mellow. Based in Hong Kong, Mellow is an interactive personal finance app for children and parents that teaches money habits and financial literacy through practical daily learning.
Pops! Diabetes Care. This Australian company offers an alternative to traditional blood sugar testing through a mobile app. Users can manage diabetes with features such as real-time glucose monitoring and AI-driven virtual coaching.
Europe, Middle East & Africa
Parametrix. U.K.-based Parametrix creates parametric insurance for technology-dependent businesses during periods of downtime such as cloud outages, network crashes, and platform failures.
Wenalyze. This Spanish startup provides a solution using big data, machine learning and data matching that helps insurers verify information and identify insurance needs.
Latin America
DeepAgro. Based in Argentina, DeepAgro utilizes technology to develop weed detection systems and other agricultural products. DeepAgro’s system allows for the saving of up to 70% in agrochemicals through a selective application of herbicides at any stage of soybean crop growth.
DESCIFRA. This Mexico-based finalist uses big data, machine learning and geospatial intelligence analysis to reveal micro markets for businesses.
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