An accelerator for growth-stage InsurTech startups is launching in New York City this fall. Several carriers and brokers will be participating, including Nationwide, Swiss Re and more.

InsurTech NY Accelerator, sponsored by InsurTech NY, is scheduled to begin operations in October. Before then, the accelerator will start taking applications from growth-stage startups that have revenue and customers in late July.

InsurTech NY bills itself as the largest InsurTech community in the New York metro area.

The new accelerator program will focus on the three things that matter most to growth-stage InsurTechs: traction, talent and financing. The program will provide access to insurance carriers and brokers looking to deploy new technologies and provide financial backing to digital managing general agencies. Arch Capital, Flagship Insurance, Greenlight Re, Nassau Re, Nationwide, Swiss Re and Transverse Insurance are among the initial carriers and brokers participating in the program, with five others to be announced.

Participating corporations will rotate in hosting InsurTechs during the program. The first cohort will run for six weeks, and InsurTech startups will not give up equity to be part of the program.

David Gritz, InsurTech NY’s managing director, said that the program will give startups “a dedicated advocate to help them navigate the partnership process with insurance carriers and brokers.”

InsurTech NY supports the insurance innovation community in the New York metro area. InsurTech NY brings together carriers, brokers, investors and InsurTech startups via bi-monthly programs.

Source: InsurTech NY