The second edition of the Innov & Insure Challenges has concluded, revealing three promising startups set to drive innovation within Algeria’s insurance sector. The initiative, a collaboration between the Algeria Startup Challenge and the Algerian Union of Insurance and Reinsurance Companies (UAR), highlighted solutions aimed at accelerating the industry’s digital transformation.
The challenge was supported by several key players in the national insurance market, including CASH Assurances, CAAT, CAAR, SAA, and GAM Assurances, all of whom are backing the search for technologies that can address emerging risks and modernize client services.
The Winning Innovators
After a competitive selection process, three startups were chosen for their unique and impactful solutions targeting industrial safety, automotive claims, and environmental risk management.
- InspecOps: This startup is developing an intelligent platform that uses IoT sensors, artificial intelligence, and predictive management tools. The technology is designed to anticipate occupational hazards and significantly improve safety standards within industrial environments.
- Coosta: Addressing a common pain point for consumers, Coosta offers a simplified digital solution for reporting automobile accidents. Its platform aims to streamline the claims process, enhance the customer experience, and accelerate procedures for insurance companies.
- SPASU MARTECE: Focused on the aquaculture industry, this venture has designed a smart buoy equipped with advanced sensors. The device provides early detection of natural disasters, strengthening the safety and resilience of fish and seafood farms against climate-related threats.
About The Innov & Insure Challenge
The Innov & Insure Challenge is a dedicated open innovation program designed to bridge the gap between Algeria’s established insurance industry and its burgeoning startup ecosystem. By fostering collaboration, the initiative seeks to identify and support tech-driven solutions that can solve current challenges and anticipate future needs in the Insurtech space, ultimately benefiting both corporations and consumers.
Source: Algeria Startup Challenge
