BrokerTech Ventures (BTV), the industry’s first broker-led convening platform and accelerator program focused on delivering innovation to the insurance broker industry, has opened the application window for its 2022 BrokerTech Ventures Accelerator program.
The Des Moines-based company, backed by 15 of the largest brokerage firms in North America and 13 of the largest insurance companies and wholesalers with both domestic and international presence, is dedicated to fostering innovation in the insurance industry by providing early-stage insurtech companies the support to develop tech solutions for the industry, according to a news release.
“BTV has experienced amazing results from the first two cohorts, generating over 100 proofs of concepts, pilots, and customer engagements while increasing the reported startup valuations by more than $200 million,” said Dan Keough, Holmes Murphy chairman and CEO and BrokerTech Ventures co-founder. “With the third cohort, I believe we can expect new insurtech solutions with greater influence and even more diversity of thought for the industry. I’m excited to see what the startups will bring to the table.”
The concept of the BTV 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.
“You can raise capital and hope to figure out distribution and product-market fit or you can figure those things out upfront, bring in non-dilutive capital (AKA revenue), and then raise capital knowing you can scale,” said John Jackovin, executive director of the BrokerTech Ventures Accelerator. “As an entrepreneur and a startup founder for the last 20 years, I know that if I had an insurtech startup, I would absolutely apply to the BTV Accelerator. Nothing accelerates your company quite like customers.”
The deadline for BTV Accelerator submissions is Dec. 17. The initial review will be in January, with the top 20 startups chosen to take part in the Selection Series in early March. The Selection Series will be a virtual event where BTV partners can dig deeper into the products, companies, and teams. The cohort will begin the five-week Accelerator program in April 2022. 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.
Coralville-based IntelliSee is part of the program’s 2021 cohort.
To submit an application for the 2022 Accelerator, go to www.brokertechventures.com.
