quarterly-insurtech-briefing-q4-2017
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Q4 <strong>2017</strong> Industry Theme<br />
The Sobering of InsurTech: Adapting Business<br />
Models for Incumbents<br />
Claims Management – Selected Companies<br />
Claims Management<br />
(US$ in millions)<br />
# Company Total<br />
Funding<br />
Investor(s)<br />
9 Rightindem 3.4 • Eos Venture Partners<br />
• Startupbootcamp<br />
10 ClaimForce 2.0 • MK Capital<br />
• Origin Ventures<br />
• Undisclosed Investors<br />
11 FraudScope 1.6 • GRA Venture Fund<br />
• Other Investors (a)<br />
12 Better 1.1 • Designer Fund<br />
• Initialized Capital<br />
• Undisclosed Investors<br />
13 getmeIns 1.0 • Insurtech Israel<br />
• Jerusalem Ventures<br />
14 OpenClaims 0.6 • Undisclosed Investors<br />
15 Insurello 0.3 • DHS Venture Partners<br />
• Individual Investors<br />
16 MotionsCloud 0.0 • Global Ins. Accelerator<br />
• Protechting<br />
17 Fluttrbox 0.0 • Global Ins. Accelerator<br />
18 AutoClaim<br />
(ABT<br />
Holdings)<br />
– • ABT Holdings<br />
Description<br />
• Web-based self-service insurance claims platform servicing<br />
auto, home and marine coverage claims<br />
• Claim service and communications platform that enables<br />
insurance claim professionals and fully vetted claim<br />
service providers to interact efficiently through a single<br />
point of access<br />
• Flexible platform can be used by claims representatives<br />
directly or ClaimForce can help manage the process<br />
• Clients receive access to a nationwide network of over<br />
22,000 claim service providers<br />
• Data analytics company that uses novel techniques to<br />
investigate and uncover claims fraud<br />
• Mobile app for managing health insurance and out-ofpocket<br />
medical bills<br />
• Users enter information and upload photos of medical bills<br />
• Software reviews bills, identifies incorrect/missing<br />
information and files claims with insurers<br />
• Sophisticated and systematic insurance fraud analytics<br />
company<br />
• Utilizes multiple disciplines such as link analysis, open<br />
source intelligence, visual intelligence, signal processing<br />
and more<br />
• Netherlands based online platform for motor insurance claims<br />
• Offers insurers, leasing companies and fleet owners an<br />
online platform to manage their customers’ motor insurance<br />
claims with access to a managed repair network of auto<br />
body repair shops<br />
• Sweden based digital platform for pursuing personal injury<br />
claims<br />
• Fee-based compensation of 25% of successful claims<br />
• Germany based mobile claims app for property & contents<br />
claims<br />
• Helps claims adjusters improve productivity, reduce<br />
cycle time, get claims estimation in real-time and improve<br />
customer<br />
• Canada based on-demand aerial imaging and mapping<br />
application<br />
• Advanced proprietary real-time mobile claims<br />
documentation and management system<br />
• Allows user to place, track and manage claims and access<br />
legal, health, driver assistance, managed repair and rental<br />
car services<br />
• Application can be utilized by all drivers including<br />
commercial fleets, municipalities and government agencies<br />
• Acquired by ABT Holdings, a diversified investment holding<br />
company, in June 2015<br />
(a) Includes Atlanta Startup Battle, Mosley Ventures, Service Provider Capital, Spider Capital Partners and TechSquare Labs.<br />
Quarterly InsurTech Briefing Q4 <strong>2017</strong> 34
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