NYC Emerges as the Capital of Insurtech

By Forbes

Being home to a number of major insurance industry players, New York City is seen to have displaced Silicon Valley as the insurtech startup hub. Even though the New York state regulatory environment may be considered "strict," the article quotes Daniel Schreiber, CEO and cofounder, of Lemonade: “We purposely chose New York as Lemonade’s first state. Beyond it being a financial capital, we wanted to work hand in glove with NY regulators and state legal system, as it’s known to be one of the most exacting in the world. We wanted to push ourselves to get licensed in such a ‘strict’ state so that we would be able to replicate the licensing process in other states nationwide. So although we can attest that the NY regulatory environment is ‘tough’-- I think it’s more fair to say they were exacting, yet fair and open to the game-changing innovation.”

Read more here.

30 Aug 2017

Tagged in: startups

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