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.
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.