Creating New York’s X-Factor: Building an InsurTech Community

April 21, 2020 by David Bradford

In less than one year, InsurTech NY has grown from an idea shared by founders David Gritz and Tony Lew into a vibrant hub for East Coast insurance entrepreneurs, insurers and investors.Executive SummaryAs co-founder of InsurTech NY, David Gritz has a unique vantage point on technology trends reshaping the management of rapidly changing risks, developments in InsurTech-carrier relationships and InsurTech funding trends. He shared his insights with Guest Editor David Bradford 10 days before InsurTech NY hosted its Spring Conference virtually—converting the format from on-site to online in less than a week as state and city officials shuttered business in the Metropolitan area in mid-March as reported cases of coronavirus increased.

Executive Summary

As co-founder of InsurTech NY, David Gritz has a unique vantage point on technology trends reshaping the management of rapidly changing risks, developments in InsurTech-carrier relationships and InsurTech funding trends. He shared his insights with Guest Editor David Bradford 10 days before InsurTech NY hosted its Spring Conference virtually—converting the format from on-site to online in less than a week as state and city officials shuttered business in the Metropolitan area in mid-March as reported cases of coronavirus increased.

Q: Let’s talk about InsurTech NY and what inspired you to launch it.

Gritz: I was part of the Silicon Valley Insurance Accelerator, and I saw what’s happening in the InsurTech space in Silicon Valley. Also, by observing a lot of other smaller communities, whether in Minneapolis, Des Moines, Iowa, or Hartford, Conn., I saw that something magical happens when there is a community to connect carriers and brokers with InsurTechs.

Communities bring people together. They accelerate the process of developing relationships, which for InsurTechs is otherwise an expensive and time-consuming part of their business.

Nothing similar was happening in New York. There were events and conferences, but nothing on a timeline that was centered and focused toward InsurTechs. So, that’s where the space opened up.