BrokerTech Ventures, the industry’s first broker-led investor group and accelerator program, today announced that Travelers will become the first carrier partner to join the platform.
“The elevated relationship between BrokerTech Ventures and Travelers was a natural fit,” said Dan Keough, chairman and CEO at Holmes Murphy and co-CEO of BrokerTech Ventures, in a media statement, noting that the 13 BTV firms represent a sizable annual premium with Travelers.
BTV intends on “strategically partnering with several additional insurance companies that have a passion for and focus on InsurTech innovation, with Travelers leading the way,” Keough added.
BTV is made up of super-regional, privately held insurance brokerage firms spanning from Silicon Valley to New Jersey, representing nearly $30 billion in collective annual premiums. BTV also plans to add additional brokers to the platform in the months ahead.
“We have deep relationships with all the firms involved with BrokerTech Ventures, and becoming a partner enables us to more closely collaborate on technology solutions for agents and brokers,” said Patrick Kinney, executive vice president of Field Management at Travelers. “Together, we hope to identify new ways to digitally meet customers’ needs.”
Travelers has several partnerships with incubators that provide it with early access to startups focused on developing technology solutions for the insurance industry.
The BTV Accelerator is moving into Phase II of the Summer Series, where 12 InsurTech startups will be strategically aligned with BTV agencies for additional mentoring, distribution, capital and brand exposure opportunities. Applications for the BTV 2021 Accelerator Cohort will open in the fall of 2020.
About BrokerTech Ventures
Based in Des Moines, Iowa, BrokerTech Ventures is the first broker-led investor group and accelerator program focused on delivering innovation to the insurance agent-broker industry. Founded in 2019, BrokerTech Ventures provides a venue for insurance and technology firms to collaborate and bring new ideas to market.
BrokerTech Ventures invests in the research and testing for each of the chosen startups, provides access to veteran industry mentors, and helps scale the technology to market through broker distribution channels.
Source: BrokerTech Ventures