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The insurtech community in New York City will be borrowing an idea from the insurtech community in Iowa and organizing a major event that will showcase hot new insurtech startups.
InsurTechNY, the most visible insurtech organization in the New York area, is launching an effort to identify interesting insurtech startups.
The group recently opened an application window for a 2020 InsurTech Startup Competition.
The competition managers will award $300,000 in prizes to six winning teams.
Startups in an early-stage track will compete for the title of the most investable startup.
The startups in a second, growth-stage track will compete to show the highest year-over-year growth potential.
The finalists will get to pitch their businesses or demonstrate their systems March 19, at the InsurTechNY Spring Conference. Judges at the conference will choose the six winners.
Some of the judges will come from New York Angels, Anthemis, CT Innovations, and other investment organizations. Other judges may come from the startup funding arms of insurers or insurance distributors.
Submissions are due Feb. 7.
