NEW YORK, June 24, 2020 /PRNewswire/ -- InsurTech NY, the largest InsurTech community in the New York metro area, announced today the upcoming launch of the InsurTech NY Accelerator, the first dedicated NYC-based accelerator for growth-stage InsurTech startups.
Scheduled to begin operations in October, the accelerator will start taking applications from growth-stage startups that have revenue and customers in late July.
"Growth stage InsurTechs will benefit from a dedicated advocate to help them navigate the partnership process with insurance carriers and brokers," said David Gritz, InsurTech NY Managing Director. "Our community has been there to support the needs of the InsurTech ecosystem. We are pleased to introduce a platform for those that want to rapidly expand their business through our partners."
InsurTech NY Accelerator will focus on the three things that matter most to growth-stage InsurTechs: traction, talent, and financing. The program will provide access to insurance carriers and brokers looking to deploy new technologies and provide financial backing to digital managing general agencies (MGAs).
"New York is known as the home to three InsurTech unicorns: Lemonade, Oscar, and Policy Genius," said Paul Tyler, CMO of Nassau Re. "We hope to use the InsurTech NY platform to find and support the next set of InsurTech unicorns."
The initial carriers and brokers in the program include Arch Capital, Flagship Insurance, Greenlight Re, Nassau Re, Nationwide, Swiss Re, Transverse Insurance, and five others to be announced. Participating corporations will rotate in hosting InsurTechs during the program. The first cohort will run for six weeks, and InsurTech startups will not give up equity to be part of the program.
About InsurTech NY
InsurTech NY supports the insurance innovation community in the New York metro area. InsurTech NY brings together carriers, brokers, investors, and InsurTech startups via bi-monthly programs. InsurTech NY's mission is to drive talent to insurance, make regulation innovation-friendly, attract InsurTechs to the New York metro area, and improve access to investment. See more at www.insurtechny.com/accelerator or follow us on LinkedIn(www.linkedin.com/company/insurtechny).
SOURCE InsurTech NY