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The latest line of defense against rising cyber attacks

Cyber Insurance

Toronto-based Boxx Insurance offers cyber insurance policies through its Cyberboxx product line, which also extends to individual users. Boxx's cyber insurance products for businesses offer coverage against costs related to hacking, insider threats, loss of business, social engineering, and reputational damage, along with legal fees, regulatory fines, and other related liabilities. The company also offers other value-added services with its cyber insurance policies that include tools to monitor the cyber risk posture of businesses (in partnership with cyber risk assessment startup, BitSight ), a 24/7 dedicated security team that offers managed security and incident response services, and employee cyber training for clients.The company <a href="https://sp-edge.com/updates/14344">acquired </a>the cyber threat intelligence startup, Templarbit in November 2022, to expand into proactive cyber risk protection capabilities which enhanced its growth in the small and midsize business segment.Key customers and partnershipsBoxx Insurance served over 250,000 individuals and 10,000 businesses, as of January 2023.Boxx Insurance partnered with the consumer credit reporting agency, Equifax in December 2021, to launch USD 1 million identity theft protection coverage for consumers, amidst heightened concerns over digital privacy and cybersecurity.The company’s policies are backed by insurers such as Zurich Insurance, Munich Re, Hartford Steam Boiler (HSB), and Lloyds of London. In addition to Canada, the company also has a presence in the US, Switzerland, and Dubai.Funding and financialsIn January 2023, the company <a href="https://sp-edge.com/updates/16073">raised USD 14.4 million </a>in a Series B funding round led by Zurich Insurance.The company reported that it grew 10x over 2022. It also increased its employee headcount from 5 to 36 and expanded its presence across North America and other selected markets during that period.

Cowbell is a cyber insurer offering an AI-powered “adaptive” cyber insurance product for SMBs with up to USD 500 million in revenue, bundled with comprehensive cyber risk management tools and resources to improve their risk profile, avoid cyber incidents, and minimize claims.The firm writes its own admitted lines coverage on A-rated paper through its admitted carrier Cowbell Specialty and also operates as a managing general agent (MGA) to offer surplus coverage written by partner insurance carriers. Cowbell offers standalone cyber policies, with comprehensive first- and third-party coverage including breach costs, ransomware payments, hardware and data replacement costs, and contractual damages or regulatory fees and fines.Cowbell’s AI-powered underwriting platform leverages a series of proprietary risk ratings called Cowbell Factors to gauge a potential policyholder’s risk profile. Businesses are continuously underwritten throughout the issuance and coverage cycle to tailor coverage to each firm’s unique environment and provide comprehensive risk insights and resources to improve their cyber posture. Cowbell Factors reportedly covers a risk pool of over 31 million businesses or 92% of US SMEs (as of July 2023).In April 2023, <a href="https://sp-edge.com/updates/17768">Cowbell introduced “MooGPT,” </a>a collection of generative AI tools for its broker partners and policyholders that act as a source of on-demand security and policy-related information.Key customers and partnershipsThe company serves thousands of customers and has a network of more than 23,000 agents and 3,500 agencies across retail, wholesale, and embedded channels as of May 2023 and partners with various companies, including cloud platform and cloud security vendors, cyber advisory firms, and managed services companies, to provide policyholders access, with incentives, to robust security and risk solutions.Cowbell is backed by 20 prominent insurers and reinsurers, including Skyward Specialty. Palomar, Swiss Re, and Obsidian, and launched its own captive reinsurer Cowbell Re in January 2022 to bolster capacity and gain flexibility in insurance operations.Funding and financialsIn November 2023, Cowbell <a href="https://sp-edge.com/updates/23868">raised</a> USD 25 million in fresh funding from Prosperity7 Ventures, a diversified growth fund of Aramco, and several new and existing investors to help make its cyber insurance business profitable, with a focus on enhancing its offering for markets in the US and UK.

New technologies are opening up mental health services to previously overbooked and underserved populations.

Mental Health Tech

Wysa is an AI-based chatbot that uses cognitive behavioral therapy, dialectical behavior therapy, and meditation to help users cope with anxiety, stress, and loneliness. Conversations with Wysa and self-help tools in the chat are free, anonymous and privacy protected. The platform incorporates cognitive behavioral therapy, dialectical behavior therapy, mindfulness exercises, and other evidence-based approaches to help users build mental resilience and manage their emotional health.The mobile app also offers a premium service, equipped with over 150 self-help tools and text-based support from either a therapist or well-being coach at a price of USD 49.99 per annum.&nbsp;Key customers and partnershipsAs of September 2024, the platform was available to 11 million employees worldwide, had facilitated more than 500 million conversations, and was used by 6 million individuals living in over 95 countries.The company works with employers such as Accenture, Colgate-Palmolive, and Aetna International to provide mental health support as part of employee benefits programs. In the healthcare sector, Wysa collaborates with the National Health Service in the UK, Cincinnati Children's Hospital Medical Center, and the Ministry of Health in Singapore.In December 2020, Wysa partnered with Adi Health+Wellness to provide AI chatbot support for Adi Health’s CARe platform. ORCHA, a global health app evaluation agency awarded Wysa an overall rating of 93%, including a 100% on clinical safety, and recommended Wysa as the best app for COVID-19 stress and anxiety.

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

4.Screen, based in Germany, is a technology company that specializes in driver interaction platforms. Co-founded by former BMW digital product specialists, the company has developed the Mobility Experience Cloud (MXC), which connects vehicles to the broader mobility ecosystem. This platform enables real-time communication between businesses and drivers through in-car screens, offering features such as branded pins, search recommendations, and in-car marketing offers.Key customers and partnerships4.Screen collaborates with various businesses and automotive brands to enhance driver engagement. The company has launched its system in partnership with automakers including Audi, Skoda, and Mercedes-Benz. Its notable customers include Coop Alleanza 3.0, Todis Supermarkets, Shell, Waitrose, TotalEngergies, McDonald's, Tamoil Italia, San Marco Petroli, Interparking, UUNO, APCOA Parking, and Kaufland.Key competitors: None comparable (4.Screen is the only startup in the Auto Tech industry that offers a platform for business-to-driver interaction for digital advertising)

Augmenting the mining value chain with technology and automation

Mining Tech

KorrAI Technologies Inc. is a Canadian geospatial company specializing in advanced earth observation and remote monitoring solutions. The company leverages artificial intelligence, machine learning, and satellite imagery to provide valuable insights for various industries. KorrAI's proprietary technology integrates multiple data sources, including satellite radars and cloud-computing algorithms, to detect millimeter-level changes in surface elevation and ground motion. This capability allows for comprehensive monitoring of transportation networks, utilities, mining operations, urban infrastructure, and other critical assets.
KorrAI's platform employs well-established techniques such as InSAR (Interferometric Synthetic Aperture Radar) to offer broad monitoring capabilities that were previously unfeasible with ground-based instruments alone. The company's services include the detection of subtle ground motions, providing options for monitoring frequency and spatial resolution. KorrAI's geospatial web platform enables easy visualization and analysis of complex data, translating it into actionable insights for clients.
Key customers and partnerships
In February 2024, KorrAI entered into a strategic partnership with Lancaster Resources Inc., a North American lithium exploration company. This collaboration aims to enhance the efficiency and accuracy of mineral exploration, particularly for lithium and other critical minerals essential for green energy technologies.
In March 2024, KorrAI partnered with Greenridge Exploration Inc. to implement its hyper-spectral imaging technology on the Nut Lake Uranium Project in Nunavut, Canada. This partnership is expected to aid in identifying mineralized outcrops and improve the efficiency of Greenridge's exploration program. KorrAI's technology will be used to identify areas of interest for ground exploration in Greenridge's 2024 exploration program.

Onsi provides an easy way for businesses to reward their workers. Our platform is designed to help businesses build programmes that drive loyalty and engagement, delivering a wide range of benefits to workers via their Onsi Card. For businesses, it’s all about getting the right results through tiering and gamification. For workers, it’s all about meaningful benefits they can use every day to improve their financial lives.

Cowbell is a cyber insurance company for small and medium-sized enterprises (SMEs), providing adaptive cyber insurance with coverage that evolves with today's and tomorrow's threats. Cowbell offers specialized standalone cyber coverage tailored to the unique needs of each business. Its innovative approach utilizes AI for continuous risk assessment and underwriting, providing policyholders with a comprehensive, closed-loop risk management solution that includes risk prevention, mitigation, incident preparedness, and response services.

Minalea is a company that puts its solutions and know-how at the service of the commercial performance of its insurance and bancassurance clients. Created by a team of online insurance specialists in Europe for more than 20 years, Minalea combines a unique experience and digital technical solutions.

Fisify is the first software that allows health insurance companies, hospitals and physiotherapy centers to increase the quality of treatments and the rate of successful recoveries. The virtual physiotherapist based on artificial intelligence allows the patient to be monitored in real time and under technological supervision, helping the patient from the moment they are injured until their final recovery.

Wysa provides a mental health wellness platform to help manage stress from health anxiety behavior of employees and patients. Wysa provides early intervention to high-risk groups through an AI chatbot, a library of evidence-based self-help tools, and messaging-based support from human therapists. It blends AI-guided listening with professional expert support.

At KorrAI, we strive to mitigate the effects of climate change and promote a future with robust, resilient infrastructure.  Our approach integrates satellite data, IoT, and AI to assess the physical integrity of critical structures like bridges, dams, mine sites, and highways, enabling informed engineering and maintenance decisions.

4.screen is a technology company that develops technologies for driver interactions. The 4.screen Mobility Experience Cloud connects the car to the mobility ecosystem and provides a standardized interface for real-time communication with drivers. 4.screen shares a common goal with car manufacturers and businesses – placing the driver at the center of every equation. Car manufacturers and mobility service providers implement 4.screen APIs into their existing systems and applications to provide integrated services for seamless journeys. Businesses of all sizes - from local shops to global brands - use 4.screen to communicate with drivers directly through the vehicle's screen. Drivers enjoy frictionless access to the mobility ecosystem, see more relevant content and benefit from value-added services such as sponsored parking and charging. The 4.screen technology is developed by a team of automotive, marketing, and software experts who are committed to creating seamless experiences for drivers.

BOXX Insurance Inc. helps businesses and families insure and defend against cyber threats. BOXX's vision is to help businesses, individuals and families stay ahead of, respond to and recover from cyber threats, putting their digital safety first.

Ensurre is a blockchain-based decentralised, democratised & disruptive property and real estate insurance platform. Our blockchain-backed Insur-tech SaaS platform offers unparalleled transparency and predictability, making insurance something our users seek to secure their assets. With our asset register app and web3 insure-tech solution, new markets and possibilities for insurable real estate assets are now within reach. Say goodbye to the uncertainty of insurance and hello to a brighter, more secure insurance experience in the future with Ensurre. https://ensurre.com

CARIFY builds a new way of driving. With the platform www.carify.me, CARIFY enables customers to easily customize the mobility package they need. A convertible in Summer, switch to an SUV in winter?

Awto is the largest Latam car sharing startup (with +350 shared cars) focused on reducing the carbon footprint of south-american cities and changing the mentality of car owners by providing mobility as a service.

brokerbusiness.ch provides a solution for control of the technical data. is a software platform that enhances the processes of insurance brokers to maintain their USP and their independence.

Founded in 1995, MyPolicy provides broking, product design, pricing and monitoring of telematics motor insurance policies for first time drivers and other niches in the UK. Its highly scalable model has grown rapidly, developing proprietary risk algorithms to analyse and interpret telematics driver data and applying it widely through increasing its underwriting capacity and broadening its channels to market.  Over 500,000 new drivers enter the UK market every year and MyPolicy has enjoyed rapid expansion in 2016.

Digital Insurance Group is a SaaS InsurTech, enabling insurers to innovate at record speed. Active in 8 countries. Europe & LatAm. Exit to Zurich Insurance Group in 03/2022.

CoverWallet is an online platform that offers insurance management services to its clients. CoverWallet’s range of insurance include general liability, workers’ compensation, commercial property, BOP, professional liability, E&O, medical malpractice, umbrella insurance, D&O, cyber liability, inland marine, EPLI, commercial auto, disability, health, and product and pollution liability. Its services are provided to firms in the administrative, agricultural, construction, consulting, contractor, education, finance, food, healthcare, management, manufacturing, mining, non-profit, scientific, and real estate industries. CoverWallet was launched in 2015 by Inaki Berenguer and Rashmi Melgiri and is based in New York.

Octagon Research Solutions, Inc. (Octagon) was founded as a Development Partnering Organization (DPO) in 1999. Octagon's foundation is built on Regulatory Principles integrated into the various disciplines of drug development.  Octagon approaches all drug development services with a focus on the end goal-an approved regulatory submission. Their staff has submitted more than 16 paper original NDA submissions.They’ve submitted over 35 electronic submissions across multiple reviewing divisions and therapeutic areas to both national and international regulatory authorities. Octagon has earned the reputation for being a top-notch organization committed to being flexible, meeting deadlines, proactively identifying and resolving issues, and developing solutions for complex problems.

Founded in 1998 and experiencing tremendous growth, Derivion is the first e-billing application service provider (ASP) to leverage the power of the Internet to automate the bill delivery and payment process for organizations driven by recurring billing.  Under the guidance of our experienced management team we are committed to delivering superior e-billing solutions to our customers. We deliver results through our own innovative solutions and via our many strategic partnerships, which enable Derivion to deliver a comprehensive, cost-effective approach for deploying and managing e-billing services.

The Zurich Insurance Group is a multi-line insurance provider that delivers a wide range of general insurance and life insurance products and services for individuals, small businesses, and mid-sized and large companies, including multinational corporations. It has a global network of subsidiaries and offices in more than 170 countries. The group operates in five regions: North America, Latin America, Europe, Middle-East and Africa, and Asia-Pacific. The Zurich Insurance Group was founded in 1872 and is headquartered in Zurich, Switzerland.

<div> Zurich Insurance Group (SWX: ZURN) is a Switzerland-based global insurance company. It is the largest insurer in Switzerland and has been listed on the SIX Swiss Exchange since 2000. Zurich&rsquo;s total gross written premium (GWP) was USD 56.1 billion in 2022. The company operates under three main business segments: 1) Property &amp; Casualty (P&amp;C), 2) Life, and 3) Farmers. The P&amp;C segment (~77% of total GWP in 2022) offers a range of automobile, home, and commercial insurance products. The Life segment (~19%) offers annuities, endowments, term insurance, unit-linked, and other investment-oriented products. Zurich&rsquo;s US insurance subsidiary Farmers accounted for ~8% of total GWP in 2022. Europe, Middle East, and Africa (EMEA) was Zurich&rsquo;s largest market (~45% of total GWP in 2022), followed by North America (~38%), the Asia-Pacific (~10%), and Latin America (~9%). The company intends to significantly accelerate its customer-centered strategy between 2023 and 2025 by using data and innovation and targets an EPS CAGR of 8% over the same period. Zurich targets achieving net-zero emissions by 2030. </div>

ZURICH INSURANCE GROUP : UBS gives a Sell rating

New insurance models are disrupting a centuries-old industry with a focus on personalization and convenience

InsurTech: Personal Lines

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The Zurich insurance company has launched a property claims service feature through WhatsApp, allowing customers to quickly share information and images from their mobile devices. This new service aims to reduce settlement time to an impressive average of 13 minutes. Zurich plans to expand this feature to cover other types of insurance as well.

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