InsurTech
Innovation Lab
1871’s InsurTech Innovation Lab links growth-stage and late-stage startups with corporate businesses, industry experts, & investors in Insurance Tech. Join the lab to solve leading industry challenges and collaboratively explore opportunities.
Current partners: Allstate, World Business Chicago, EX3.
Programming
Explore InsurTech Innovation Lab Immersive Week : Dive into industry trends, join workshops, panels, and meet startups at our Innovation Labs. Experience a week of innovation and collaboration!
Immersive Weeks
Week 1
4.01.24 - 4.04.24 [Virtual]
Week 2
4.29.24 - 5.03.24 [In-person]
Week 3
5.27.24 - 5.31.24 [Virtual]
Week 4
6.24.24 - 6.28.24 [In-person]
InsurTech Innovation Summit
6.27.24 [Hybrid]
Join us for our capstone-like event, where you’ll have the opportunity to network, meet the 2024 Lab cohort, and explore InsurTech through curated programming.
InsurTech Innovation Lab programming
Explore InsurTech Innovation Lab Immersive Weeks: Dive into industry trends, join workshops, panels, and meet startups at our Innovation Labs. Experience a week of innovation and collaboration!
Immersive Week 3
2024 Lab Focus Area
• Sales & Distribution Innovation
• Risk Management & Underwriting
• Emerging/New Data Sources
• Climate Risk
• Future of Mobility
Lab partners
Lab partner
Expert In Residence
I have over 30 years experience in the Insurance and Financial Services industry with a focus on commercial & personal P&C insurance, life and annuities and brokerage. I’ve been at BCG for 13 years where I’m a Managing Director and Senior Partner in the Insurance and Financial Services Practice. In addition, I lead BCG’s Insurance Private Equity Practice. Prior to BCG, I had an operating role in Zurich’s North America Commercial P&C business as an SVP running Underwriting Operations and Technology and Strategy. Prior to Zurich, I was at McKinsey for 9 years as a Partner in the Insurance and Financial Services Practice. I’m extremely excited to be part of the 1871 InsurTech Innovation Lab.
Jeff Chookaszian
Insurance and Financial Services Executive, The Boston Consulting Group (BCG)
InsurTech Innovation Lab 2024
Application phase
Programming
Week 1
4.01.24 - 4.04.24 [Virtual]
Week 2
4.29.24 - 5.03.24 [In-person]
Week 3
5.27.24 - 5.31.24 [Virtual]
Week 4
6.24.24 - 6.28.24 [In-person]
AI Innovation Summit
6.27.24 [Hybrid]
Join us for our capstone-like event, where you’ll have the opportunity to network, meet the 2024 Lab cohort, and explore AI through curated programming.
What's included for participants
•Unique benefits per business stages
• Inclusion in 1871 press release
• Immersive programming by experts
• Community of peers
• Featured at InsurTech Innovation Summit
Who's in the lab>>
Growth-stage startups
Late-stage lab partners
Corporate lab partners
Growth stage startups
Late stage lab partners
Corporate lab partners
Join the lab
Growth-stage startups
For an insurance tech company with a demonstrated
product market fit & poised to grow.
Exclusive benefits
- Showcase their product to dozens of potential corporations and investors
- Level up their thought leadership
- Learn from the foremost InsurTech experts in the U.S.
- Connect with peers in InsurTech
- Connect with advisors and mentors in InsurTech
Applications close 3.07.24
Late-stage lab partner
For an Insurtech company interested in becoming an industry expert and influencing major industry outcomes.
Exclusive benefits
- Curated connections to potential customers, partners and investors
- Publically showcased as thought leaders
- Employee engagement & networking with leaders in the industry
- Access to corporations who are interested in exploring Insurtech Innovation
- Opportunity to mentors early-stage startups
- Amplify your brand at the InsurTech Innovation Summit
Book a discovery call!
Corporate
lab partners
For corporates looking to innovate and accelerate Insurtech solutions.
Exclusive benefits
- 1:1 connections with startups
- Publicly showcased as thought leaders through PR, co-hosted events, and more
- Participation/co-host curated networking and exclusive events
- Employee engagement & networking with leaders in the space
- Connect with tech talent interested in InsurTech
- Seat on the 1871 InsurTech Innovation Advisory Council
Book a discovery call!
Lab timeline
Programming
Week 1
04.01.24 - 04.04.24 [Virtual]
Week 2
04.29.24 - 05.03.24 [In-person]
Week 3
05.27.24 - 05.31.24 [Virtual]
Week 4
06.24.24 - 06.28.24 [In-person]
InsurTech Innovation Summit
6.27.24 [Hybrid]
Capstone event w/ public showcase
Late stage partner
2023 Supply Chain Summit
Join us October 2023 for our second Supply Chain Innovation Summit event to bring early, growth and late stage startups, corporate innovators, mentors, venture capitalists, and community leaders together to discuss the cutting edge of supply chain tech innovation.
Our Innovation Labs Connects
Founders
Corporates
Investors
Innovation Ecosystem
Benefit From Year Round High Impact Experiences
Focus Areas in InsurTech for Lab 2025
Predictive Analytics
Underwriting Automation
Claims automation
Agents & Orchestration
The design and management of AI-driven software that autonomously or semi-autonomously perform tasks and make decisions, often within complex workflows or multi-agent environments.
AI-powered systems that optimize and automate complex operational processes, from manufacturing to logistics
Coordinated networks of AI agents that work together to solve complex problems, each specializing in specific tasks while collaborating toward common goals
Self-running systems that can complete entire business processes with minimal human intervention, adapting to changing conditions and requirements
AI agents programmed to pursue specific business objectives, making decisions and taking actions to achieve desired outcomes
Trustworthy AI & Risk Management
Frameworks and technologies ensure AI systems are reliable, fair, and secure while maintaining transparency and accountability.
Comprehensive approaches to protect AI systems from threats while ensuring they operate safely within intended parameters
Tools and methodologies to identify and address biases in AI systems, promoting fair and equitable outcomes
Technologies that make AI decision-making transparent and interpretable, enabling trust and accountability
Methods and tools that enable AI capabilities while protecting sensitive data and maintaining privacy compliance
Enterprise AI Architecture
The design and implementation of robust, scalable frameworks that enable organizations to build, deploy, and manage AI solutions across various business units while ensuring that AI initiatives are well-aligned with business objectives and can be effectively scaled and maintained over time.
Systems and practices for managing the lifecycle of AI models, from development through deployment and monitoring
Technologies and methodologies for seamlessly incorporating AI capabilities into existing enterprise systems and workflows
Tools and frameworks for tracking and optimizing AI system performance, ensuring reliability and efficiency
Comprehensive security measures protecting AI systems and data while managing user access and permissions
How Members Get Involved
There are two steps for you to start engaging in the Innovation Lab Communities and Events:
Step 1: Self-Select & Join Innovation Lab Communities
On the member portal, you have the power to self-select exactly which industry communities you want to be a part of. Joining tech specific Lab Industry Groups you are interested in gets you access to those member-only events and indicates to our team that you are interested in other events and opportunities in that specific industry.
Step 2: Start Signing Up for Innovation Lab Events!
Take a look at all upcoming labs programming and start signing up to get engaged in the range of programing for each Industry.
Lab Portfolio for Growth Stage Members
The Innovation Lab Portfolio is an exclusive opportunity for growth-stage startups in our Innovation Lab communities. As a part of the portfolio, your company will be highlighted in various ways throughout the year and prioritized for corporate and investor connection opportunities.
Eligibility:
- You must be in the startup stage as defined by 1871.
- Your solution must align with the industry or technology focus of the lab.
- Submit the growth stage information form.
How 1871 Defines a Growth-Stage Startup:
If a startup meets 3 out of 6 of the following criteria they are considered a Growth Stage Company and eligible for a Lab Portfolio:
- 2-5 strong leaders
- 10-50 person team and growing
- Strong marketing definition
- Product Market fit
- Compelling Traction
- $10-$100M Valuation
Portfolio Member Benefits:
Being in the portfolio provides opportunities to be showcased throughout the year to investors, corporates, and the larger industry-specific innovation ecosystem. Being in the portfolio makes you eligible for these benefits, but does not guarantee that you get to participate in all of them. Here is a look at the showcase opportunities available to our Lab Portfolio Startups:
- Inclusion of your profile in the industry portfolio, where your tear sheet is shared with corporates and investors interested in 1871 startups
- Guaranteed demo table at the startup expo during that specific industry summit
- Exclusive access to industry-dedicated mentors and experts in residents
- Showcase Opportunities Include:
- Featured in Investor showcases
- Featured in Lightning Talks (these are events where our startups pitch to a curated audience of corporate partners)
- Selected for Deal Flows for corporate partners
- Curated introductions to corporate members (based on mutual interest)
- Pitch in Summit Showcase
Consumer Tech Innovation Summit
InsurTech, FinTech, Sports & Entertainment
“It’s about applying modern technology to make insurance more efficient, customer friendly, and innovative”
EIR Jeff Chookaszian, Boston Consulting Group Insurance and Financial Services Executive, discusses the InsurTech Innovation Lab.
Why Insurtech?
“Our Innovation Lab cohorts have dozens of late-stage startup founders who have raised 6 to 7 figure series A rounds. They’re designed to introduce you to as many corporates, investors, and network connections to help you secure as many deals as possible. We take time to curate the participants to optimize this goal. The goal of the Labs is not education or basic startup support. You should consider the Lab if you’d like to be showcased and connected to dozens of leading corporations and inventors in the Insurance Sector.”
Rachel Feuerborn, CPO @ 1871
Join the Lab!
Choose your business segment.
Focus Areas in FinTech for Lab 2024
Sales & Distribution
Payment innovations which eliminate any friction or complications in the transaction process. Frictionless payments can be achieved through various technologies and methods.
• Mobile wallet payments
• Online one-click checkout payments
• Software integrated payments
• Connected car/home/city payments (IoT-enabled)
• Personalized digital offers (placement/redemption)
• Advanced authentication (password to passkey)
Payment innovations which streamline and improve transactions between businesses. Digital Invoicing and Payment Platforms, Virtual Cards, Cross-Border Payment Solutions, Supply Chain Finance Platforms and Embedded Finance Solutions.
Fraud detection, Authentication solutions, Regulatory compliance solutions.
Risk & Management Underwriting
Digital banking provides traditional banking services online or via mobile devices, eliminating branch visits. EX. Chatbots, instant account opening, authentication, digital wallets, mobile payments, financial inclusion solutions.
Allows third-party financial providers to access consumer banking data via application programming interfaces (APIs). Ex. Payment initiation, personal finance management, credit scoring, and lending.
Innovations that provide advanced tools and solutions to maintain regulatory standards and mitigate risks. E.g., AML/KYC solutions, RegTech platforms, risk management, fraud detection, and compliance.
Emerging Data Sources
Utilizing biometric and digital technologies to verify customer identities quickly and securely, facilitating access to financial services.
Transform financial services with decentralized, secure, transparent, and efficient technologies for payments, lending, and asset management.
Developing advanced security measures to protect against financial fraud and cyber threats.
Harnessing big data, advanced analytics, and quantum computing for innovative, efficient, and powerful financial solutions. e.g. predictive analytics, personalized financial services, quantum-based, new innovations.