After 48 hours of hard work, #HartfordHack17 has the results of the InsurTech Hackathon Weekend. Congratulations to MODE and DroneNet!
MODE won the $5,000 Travelers first prize. MODE promises to be a start-up insurer offering coverage to artists, with a social responsibility flare - they also give away policies to other artists. The team impressed the judges of their progress. MODE founder, Aasta Frascati-Robinson did not even know about the hackathon until 2 days before it's start. In 48 hours, Aasta and team built a working prototype with integration to a 3rd party artist website, promoted it on social media, received 2,000+ interactions, and was able to demo a working website and mobile app. Now that's InsurTech!
DroneNet won the $3,000 XL Catlin second prize. DroneNet brings Drone-as-a-service to the insurance industry. Insurers face scalability and cost issues for drone services, and DroneNet's platform promises a way to give them the same flexibility for drones as Uber gives for rides. Judges and mentors were impressed with how well the team adapted to feedback and progressed their platform and business plan over the weekend. Founder Michael Xu has a good vision for the platform.
The event had 10 great entries in all. Others we saw include:
Nate Eusko's Engage promises to make insurance better through insurer and policy holder interactions
Nick Khamarji's Ronoco platform strives to make insurance great
James Pickney's team from UHart's CS club made substantial progress on Soteria, a tool designed to simplify the claim process through better recording of assets
UCONN, University of Hartford, and Trinity College had strong showings after promoting the event within their campus. Over 50 students came from these community-oriented universities. The event sponsors made things exciting. Travelers and XL Catlin, two companies known for their innovation in the insurance industry and InsurTech ventures, sponsored the prizes and helped mentor and judging support.