InsurTech NY announced that it is now accepting applications for its third annual growth-stage accelerator.
The application window will run from July 6-29, and applications can be submitted through the InsurTech NY website. The program is designed for growth-stage companies, with initial traction, in the funding stages between Series Seed and Series B. International participants made up more than 30 percent of past cohorts.
“The InsurTech NY program is designed for startups going from initial launch to mainstream names in the insurance space,” said David Gritz, managing director of InsurTech NY. “Our past cohorts have a stellar track record with fruitful carrier partnerships, productive fundraises over $360 million post-program and rapid exits of four alumni: IXN, Verikai, TowerIQ and Breathe Life. This cohort can make the same impact.”
The accelerator is run on a compressed timeline that balances time spent with the value received in a “no fluff” model. Startups focus on market traction, recruiting talent and fundraising. InsurTechs will connect with insurance carriers and brokers looking to provide insurance capacity and to find software solutions to their technology challenges. Startups in the cohort will also be able to meet InsurTech founders who have exited their companies through acquisition or public markets.
The program will feature more than 25 carriers, brokers and their corporate venture units including Avanta Ventures, CNO Financial, Gallagher, Lockton, QBE, Nationwide, Starr Insurance, Tokio Marine and Transverse Insurance. The program will close with a demo day where the cohort can present to more than 30 dedicated InsurTech investors. Startups can apply at insurtechny.com/accelerator.
InsurTech NY will be supporting its accelerator in parallel with the MGA Lab, run by InsurTech Fund. Cohort companies will have the opportunity to participate in both programs simultaneously.
Source: InsurTech NY