The provider of AI solutions for the life insurance industry takes one step closer to winning Connecticut’s $5 million global venture challenge
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Atidot, a leader in big data and predictive analytics tools for the life insurance industry, has been selected as a 2019 VentureClash semifinalist. Managed by Connecticut Innovations, VentureClash is Connecticut’s $5 million global venture challenge for early-stage digital health, financial technology, insurance technology, and industry 4.0 companies.
Created by a team of actuaries and data scientists, Atidot uses a cloud-based platform to provide data-driven insights for the life insurance and annuities industry to solve the industry’s specific set of challenges. Atidot enables life insurers to fully utilize their existing book of business by taking control of their existing data. Using big data and predictive analysis Atidot’s platform can micro-segment customers by their identifiable footprint, helping to improve service to underinsured customers, enable data-driven retention operations, and to increase visibility to in-force management. Atidot also helps life insurance companies improve their risk models by integrating new big data and predictive analytics solutions.
The first round of the VentureClash competition attracted nearly 300 applications from more than 20 countries around the world, and 34 companies were selected to advance to the semifinalist round of the competition.
“As VentureClash enters its fourth year, we continue to be amazed by the caliber of the companies coming through the VentureClash process,” said Matt McCooe, CEO of Connecticut Innovations. “We look forward to getting to know this year’s semifinalists and introducing them to what Connecticut has to offer.”
“We are very excited to have been named as semifinalists, and to have been recognized as one of the most promising early-stage companies globally”, said Dror Katzav, CEO and co-founder of Atidot. “The multi-trillion-dollar life insurance industry is going through a period of profound and in many cases fundamental changes as providers develop new systems to further the evolution of their industry, and we are glad to be taking a leading role.”
VentureClash 2019 finalists will be announced on Friday, September 6, and those selected will compete at the VentureClash finals event, to be held on Thursday, October 17, 2019, at Yale University’s West Campus in Orange, Connecticut.
Atidot is an insurance technology company empowering the life insurance industry to become data-driven and optimize their book of business with big data solutions and predictive analytics. Founded by a team of data scientists and veteran actuaries, Atidot offers a cloud-based platform that provides data-driven insights to inform decision making, drive new business strategies, and create new revenue streams. Atidot works with leading life insurance and annuities providers to take control of their existing data to upgrade their risk modeling and to improve policyholder behavior prediction to improve sales, retention and in-force management.