Digital home management platform HomeZada has won the National Association of Insurance Commissioners (NAIC) InsurTech startup pitch competition.
The competition had five industry judges that have positions as a state insurance commissioner, investors and entrepreneurs. Startups were judged on five categories including ingenuity, the potential market impact, competitive advantage, quality and the long-term viability for success.
US-based HomeZada is helping consumers manage their homes digitally, either on a desktop or a mobile. Users can manage a home’s inventory, maintenance schedule, home improvement projects, and home finances.
Through the app, a homeowner is able to estimate their home value, mortgage balance, home equity, home value forecast, monitor their household budget, home insurance, and property taxes. To improve the protection, the app can be used to take and store unlimited photos, documents and videos of the house and its contents.
IoT insurance Observatory founder Matteo Carbone said, “The judging team liked HomeZada’s pitch because it is a solution with a clear fit and direct impact on the homeowner insurance business. The inventory of the content is something that many customers do, and this tool can be one module of the insurer app. Many insurers are currently studying the potential of tools as HomeZada within a smart home insurance value proposition.”
HomeZada is currently looking for various strategic partnership opportunities to help scale its operations and provide consumers with more features.
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