Eight startups, four countries, one insurtech accelerator
BPC Staff Jan 10, 2018 | 7:14 pm
1 min read time172 wordsAll Latest News, Insurance & Investments, Tech & Innovation
The Global Insurance Accelerator today announced its largest class yet, with eight startup companies from four countries and in technologies applicable to all lines of insurance businesses. The Des Moines-based accelerator, now in its fourth year, provides a 100-day program that provides mentorship from many Iowa-based insurers. Each company receives $40,000 in funding from the accelerator’s insurance company investors, in exchange for a 6 percent equity stake. The GIA also added a 14th insurance company investor — Voya Financial. The 2018 cohort includes companies that have built innovative products and business models incorporating artificial intelligence, “gamification,” continuous underwriting, portals, apps and internet of things/connected world devices, the GIA’s managing director, Brian Hemesath, said in a release. “The companies the GIA typically brings in to the program may be early stage, but the technologies they are working with and the applications they are developing for the industry get more interesting and mature each year,” Hemesath said. “This is going to be an awesome year.” To view a list of the 2018 cohort, click here.