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LAS VEGAS — WeatherCheck Inc., a firm that provides detailed information on hail risks and hail damage, is the winner of the inaugural Resiliency Innovation Challenge.
Sponsored by the New York-based Insurance Information Institute and InsureTech Connect, the competition highlights innovative approaches to problems surrounding disaster preparedness and responsiveness.
Open to companies that are less than 5 years old and with fewer than 100 employees, the program was launched in June. Three finalists presented on Wednesday to a panel of judges during the InsureTech Connect conference in Las Vegas.
Demetrius Gray, co-founder and CEO of Louisville, Kentucky-based WeatherCheck, made the winning presentation. Launched last year, the company’s monitoring service provides warnings on incoming weather systems and informs agents and homeowners when a hailstorm hits a specific street address.
The two other finalists were Cowbell Cyber Inc., a Pleasanton, California-based firm that uses artificial intelligence and data to allow users to continually assess and underwrite cyber risk; and True Flood Risk, a service provided by Bronxville, New York-based Think Geohazards Inc., which provides a flood assessment tool that uses machine learning and various algorithms to provide information on individual flood exposures, including the first floor elevation level of a specific building.
The judges were: Susan Holliday, senior adviser to the International Finance Corporation in Washington; Arlene Kern Sunnyvale, California-based innovation executive and senior vice president at Munich Reinsurance Co.; Lee Ng, vice president of enterprise innovation at Travelers Cos. Inc. in Hartford, Connecticut; and Kevin Pray, vice president of innovation at The Hanover Insurance Group in Worcester, Massachusetts.
The award was presented by Sean Kevelighan, CEO of the III.
InsureTech Connect offers unparalleled access to the largest and most comprehensive gathering of tech entrepreneurs, investors and insurance industry incumbents from across the globe. Business Insurance is covering the event in Las Vegas on Sept. 23-25. View the slideshow.