InsurTech NY is now accepting applications for its growth-stage InsurTech startup accelerator.
The application window is open from July 7 to August 2 and applications will be accepted through the InsurTech NY website.
The program is designed for growth-stage companies with an existing customer base in funding stages between Seed and Series B. Last year, applications were accepted from more than 20 countries. InsurTech NY, founded in 2019, is an organization focused on accelerating insurance innovation. It brings together carriers, brokers, investors and Insurtech startups via bi-monthly programs.
“The InsurTech NY program is built for the moment in time when startups are transitioning from surviving mode to thriving mode,” David Gritz, InsurTech NY managing director, said prepared remarks. “InsurTechs from our past cohort have gone on to raise over $100 million in follow-on funding and find fruitful partnerships with our carrier and broker partners. This cohort will have the same opportunity.”
The accelerator will work to provide InsurTechs with support in the areas they need to scale, such as market traction, recruiting talent and raising funds. The program will provide startups with access to insurance carriers and brokers eager to work with startups. The participating corporations will be looking to collaborate with startups on insurance capacity, reinsurance treaties and software pilots.
“The InsurTech NY accelerator provides a unique formula for matchmaking that supports carrier core initiatives and removes the bloat of typical time-consuming accelerator programs,” Steve Bernardez, partner at Avanta Ventures, the venture capital arm of CSAA Insurance Group, said in the release. “We look forward to the opportunity to work with InsurTech NY to spot our next unicorn investments and partnership opportunities for CSAA Insurance Group.”
The program will feature more than 20 carriers, brokers and their affiliated venture arms including Avanta Ventures, CNO Financial, Gallagher, Greenlight Re, Lockton, Nationwide and Transverse. The 2021 cohort will run as a hybrid model, partially virtual and partially in-person over a six-week period. The program will close with a demo day to more than 30 dedicated InsurTech investors.
Source: InsurTech NY