InsurTech NY, the largest insurtech community in North America, has announced today it will be accepting applications for its growth-stage InsurTech accelerator programme. According to the company, applications will be open from today (7 July) until 2 August through InsurTech NY’s website.
What is InsurTech NY’s accelerator programme?
"The InsurTech NY programme is built for the moment in time when startups are transitioning from surviving mode to thriving mode", said David Gritz, Managing Director of InsurTech NY. "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."
Designed specifically for growth-stage companies, the programme provides support to insurtechs in areas such as market traction, recruiting talent, and raising funds. It will also provide startups with access to insurance carriers and brokers looking to work with them. InsurTech NY says that the participating corporations will be looking to collaborate with startups on insurance capacity, reinsurance treaties, and software pilots, and that “cohort members will have the opportunity to meet rockstar InsurTech founders who have taken their companies public or sold their companies”.
Steve Bernardez, Partner at Avanta Ventures, the venture capital arm of CSAA Insurance Group, and a participating member of the programme, said: “The InsurTech NY accelerator provides a unique formula for matchmaking that supports carrier core initiatives and removes the bloat of typical time-consuming accelerator programmes.
"We look forward to the opportunity to work with InsurTech NY to spot our next unicorn investments and partnership opportunities for CSAA Insurance Group, he added.
The programme 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. It will close with a demo day to more than 30 dedicated InsurTech investors.