ACORD, the global standard-setting body for the insurance industry, has announced the results of its 2021 ACORD InsurTech Innovation Challenge (AIIC) New York. The winner, handdii, is a digital property claims firm that connects the policyholder, insurance company and contractors from claims registration through the finalization of repairs. Handdii joins Intelligent AI as the winners of the 2021 AIIC New York and London, respectively.
The AIIC, held annually for the last seven years, supports insurance start-ups whose innovations have the potential to spur positive change in the industry. Winners of the challenge are awarded an array of prizes, promotional tools and industry exposure opportunities. In addition to a $10,000 cash prize, handdii will have the opportunity to present its product at an ACORD-promoted webinar.
“We are delighted to have been the winning choice of the judges today,” said Christie Downs, co-founder and CEO of handdii. “For handdii, the support of ACORD, its industry credibility and expertise will magnify our momentum as we expand our offering across the United States and Australia. We are very thankful to everyone involved and warmly congratulate all the contestants.”
“The ACORD InsurTech Innovation Challenge has been supporting start-ups and innovators in the insurance technology space since 2015, and we were proud to continue that tradition today,” said Bijesh Jacob, senior vice president for technology and standards at ACORD Solutions Group. “The innovations presented by the participants in this year’s event showed great ingenuity, creativity and promise as part of a larger effort in insurance to modernize the industry and transform it for the better.”
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AIIC New York runners-up were:
- OTONOMI, a parametric insurance product designed for carriers in the air cargo insurance space seeking to reduce claims resolution time
- Claimflo by Safekeep Inc., a claims processing platform for the property-casualty space that uses machine learning to increase efficiency and cost-effectiveness
handdii, Intelligent AI, and the runners-up of both the New York and London events will have the chance to present their pitches at a VIP showcase during a 2021 ACORD virtual conference.