There is a new rating made by Mind the Bridge, in partnership with ELITE (it is called SEP ELITE Tech Scaleup 500) and provides a list of the 500 best European scaleup companies based on the risk capital collected. Scaleups are more than a promise: they are innovative, growing rapidly and generating significant turnover (a more detailed description here). They are very important for their entrepreneurial success and for the economy they generate, but above all since they confirm certain technological trends in the market.
In the insurtech industry, where the research was supported by Deloitte, 106 scaleups were identified, which raised a total of 1.8 billion dollars. The trends revealed by the selection are that the industry seems to be driven by artificial intelligence technologies, with some early examples of customer support implementation, Big Data analysis, security and fraud detection. There are also important applications in the regulatory area (RegTech, ID Verification and Protection), as well as in the areas of health, home and mobility. The insurance and automotive sectors continue to play an important role.
Among these 106 scaleups, the report highlights 12 companies in particular, one of which (Yolo) is a pure insurtech company, while the others are mostly in the insurance sector, work in different ways in the insurance sector or will have an impact on it. Most of these companies are Italian. Here’s who they are and what they are dealing with.
Air (Milan) – Connected car cloud technology that collects information from multiple touchpoints and allows users to deliver highly customized premium services.
Avanix (Bergamo) – wearable and wireless technologies to improve the interaction between people and between people and things/animals, with the aim of offering solutions in the field of health, wellness and safety.
DriveK (Milan) – is a new car configuration website helping customers to choose a new car and compare it with other models. Already partnered with 90 car manufacturers and 200 dealers.
Empatica (Milan, Cambridge Massachussets) – has developed an AI-based connected wristband for epileptic patients able to monitor the approaching of crises and report alerts. It can also offer analytical data of sleep, rest, activity. Recently in the U.S. received FDA approval for its application in neurology.
GoodBuyAuto (Milan) – Platform for the online sale of quality used cars
Imaginary (Milan) – deals with gamification and mixed reality, developing solutions based on these highly customized technologies that can contribute to growth, sustainable development and competitive advantage of its customers.
Jojob (Turin) – company carpooling service that allows companies to offer their employees an alternative, greener transport system.
Smart Turn System (Ljubljana, Slovenia) – has developed an intelligent solution to improve the safety of bikes on the road.
Pedius (Rome) – is a communication system that allows deaf people to make phone calls using speech recognition and speech synthesis technologies.
Stream Technologies (Glasgow, UK) – is an advanced connectivity management platform that supports and empowers organizations to deploy IoT solutions.
Yolo (Milan) – is a new generation broker that, thanks to its technology based on artificial intelligence, provides users with a complete digital experience and new on-demand and pay-per-use policies.
Woolf Bike (Verona) – wearable device for motorcyclists that through a system of sensors can detect and report the presence of speed limiters, sensitive areas, dangerous crossings. The information arrives directly at the driver who can adjust the driving behavior.
