Insurance Industry Offers Tech Startups Seed Funding and Ready Customers

DES MOINES, Iowa, Dec. 30, 2014 /PRNewswire/ -- The application deadline is approaching fast for the first class of technology entrepreneurs in the Global Insurance Accelerator, which offers seed funding, mentoring from insurance industry professionals and a conduit to potential insurance industry clients worldwide.

An initiative of the Greater Des Moines Partnership, the Global Insurance Accelerator offers tech startups selected for the program the chance to gain an inside track in an industry many may not have considered a natural market.

"Startup and early-growth companies often need help getting a foothold at the enterprise level," Global Insurance Accelerator Managing Director Brian Hemesath, said. "The accelerator offers seed funding, mentoring and C-level introductions for activities such as product development, marketing and sales, as well as broad categories for scaling technology, raising capital and legal matters.

"The goal of the business accelerator is to accelerate growth. It is an entity that invites people with solutions and products to receive mentoring and fast-track their growth. The unique twist on our accelerator is that it is focused on companies that are, or can be, serving the insurance industry," Hemesath said.

The concentration of insurance companies in the Greater Des Moines area, combined with the city's hosting of the annual Global Insurance Symposium, make it a natural location for the accelerator. The Symposium brings together hundreds of international insurance industry leaders to address areas of mutual concern. Technology is always at or near the top of the list.

Entrepreneurs and startup companies interested in being in the first Global Insurance Accelerator class should apply online now to beat the Jan. 15, 2015 deadline. The six winning concepts will receive $40,000 of seed funding in exchange for an equity share in their companies.

Concept teams will be mentored by insurance industry professionals for the next 100 days, culminating when the teams will demonstrate their products at the 2nd Annual Global Insurance Symposium in Des Moines, May 26-28, 2015.

Areas of immediate interest to the Global Insurance Accelerator include security, fraud, performance analysis, data harvesting, mobile and self-service apps, risk management, reporting, actuarial, quoting and documentation.

"Insurance is a global industry that is ready for new technology-driven solutions and products to help it be more efficient, and we're excited to see what comes of our first class of companies," Hemesath added.

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SOURCE Global Insurance Accelerator

Related Links

http://globalinsuranceaccelerator.com