- Spotr was selected as one of 13 winners out of 3,500 submissions worldwide
- Following their succesful selection, Spotr will participate in a four-month accelerator program, collaborating with Zurich business units and receive $100,000 in financial support and $120,000 worth of Microsoft Azure credits
- Prior to its global selection, Spotr was chosen as local Ireland winner of the Zurich Insurance Innovation Championship
Spotr, a Dutch scale-up revolutionizing real estate portfolio inspections, has been selected as one of the 2023 winners in the prestigious Zurich Innovation Championship. The winners were officially revealed on Monday, May 22 in Zurich, marking a significant milestone for Spotr's journey towards transforming the insurance industry.
Out of a record breaking pool of 3,500 submissions, Spotr secured its position as one of the 13 winning companies in the fourth edition of the Zurich Innovation Championship, in the category ‘Commercial Insurance’. Prior to its global selection, Spotr was chosen as local Ireland winner. This global startup program, initiated by Zurich Insurance Group in 2018, has emerged as the largest open innovation contest for startups in the insurance sector.
“In recent years, the insurtech market has bloomed and we see many opportunities to leverage those new ideas and technologies and embed them in the way we work,” said Paolo Mantero, Group Chief Strategy Officer. “These initiatives tackle important areas where we believe embracing transformation is crucial for the future of insurance.”
Spotr offers an AI-powered real estate inspection platform, allowing businesses to inspect 100% of their portfolio at a fraction of the usual cost. With Spotr, insurers can protect their customers by effortlessly detecting underinsurance or comply with regulations, locate risks and identify leads for new propositions.
Following their successful selection, Spotr will embark on a four-month accelerator program, collaborating with Zurich Ireland business units to refine their initiatives and develop a comprehensive business plan. During this period, Spotr will receive both financial and non-financial support, including mentoring from Zurich executives and access to internal and external subject matter experts. This invaluable support will enable Spotr to validate their initiatives and facilitate the process of jointly adopting them with Zurich on both local and global levels.
Moreover, Spotr has been awarded a $100,000 funding grant and $120,000 worth of credits for Microsoft Azure, which will fuel their growth and enable them to further scale their platform. The accelerator program will come to a close with a Demo Day on September 27th.
"We are honoured to be recognized as a winner out of 3,500 international applications in the Global Zurich Innovation Championship," said Dirk Huibers, CEO of Spotr. "This achievement validates our commitment to driving innovation in the insurance industry and reinforces our belief in the power of our AI to identify underinsurance and help people to be protected in times of need. With the support of Zurich and the resources provided, we are confident we can change the insurance industry towards fair and accurate sums insured."
To learn more about the Zurich Innovation Championship, please visit https://www.zurich.com/zic.