DES MOINES, Iowa, Oct. 29, 2020 /PRNewswire/ -- BrokerTech Ventures, the first broker-led convening platform and accelerator focused on delivering innovation to the insurance broker industry, has opened the application window for its 2021 BrokerTech Ventures Accelerator program.
The company, backed by 13 industry-leading firms and carrier partners throughout the U.S., is dedicated to fostering innovation in the insurance space by providing early-stage insurtech companies the support to develop tech solutions for the industry.
"During the first 2020 cohort, our 12 BrokerTech Ventures Accelerator startups logged over 60 engagements with our 13 agencies and selected insurance company partners, a true testament to the visibility and industry-leading distribution model created by our BTV platform," said Dan Keough, Holmes Murphy chairman and CEO and BrokerTech Ventures co-founder. "With the second cohort, I believe we can expect new solutions with bigger influence and ideas for the industry. I'm excited to see what the startups will bring to the table."
The concept of the BrokerTech Ventures Accelerator is to be an "innovation hub" and proof of concept environment for broker-centric products and technology solutions, ultimately bringing validated solutions to the industry. Those startups who took part in the inaugural cohort had nothing but great things to say.
"We were overwhelmed by the hospitality, and we loved the networking space," said Peter MacDonald, Co-Founder and CEO of Wunderite, a graduate of the inaugural BrokerTech Ventures Accelerator cohort. "We found that there was the highest level of executive engagement that one could expect from a program like this. There were executives from every insurance company out there, and as a former broker myself, I know something special is happening to the broker industry."
The deadline for BrokerTech Ventures Accelerator submissions is November 30, 2020, and selected startups will be notified of acceptance in early February 2021. Subsequently, the cohort will begin the five-week Accelerator program in March 2020. More than $500,000 in funding is at stake for the selected broker-centric, seed and early-stage startups, with each startup receiving up to $50,000.
About BrokerTech Ventures Based in the insurance nucleus of Des Moines, Iowa, BrokerTech Ventures is the first broker-led group and accelerator program focused on delivering innovation to the insurance broker industry. Founded in 2019, BrokerTech Ventures provides a venue for the best minds in insurance and technology to collaborate and bring to market leading-edge ideas and solutions. BrokerTech Ventures invests in the research and testing for each of the chosen startups, provides access to veteran industry mentors, and helps scale the technology to market through broker distribution channels. Learn more at www.brokertechventures.com, or follow us on Twitter (@BrokerTechVen), LinkedIn, or Facebook.