BrokerTech Ventures, an investor group and accelerator program led by nine insurance brokerages, has selected 12 InsurTechs for its first cohort that convenes March 2 in Des Moines, Iowa, for a five-week curriculum.

BrokerTech Ventures offers the cohort insights into how technology can work within and impact the insurance industry. During the program, the cohort teams will get to work with industry veterans, receive seed funding for research and testing, and gain access to a distribution platform to deploy the viable solutions. BrokerTech Ventures’ owners and partners represent more than $1 billion in annual distribution.

“As a startup founder for the better part of 20 years, having the ups and the downs of running your own company, there is nothing that helps even you out like having real customers providing valuable feedback,” said John Jackovin, executive director of the BrokerTech Ventures Accelerator.

The startups selected by BrokerTech all have products designed specifically for insurance brokers. They include a virtual reality training product to reduce workplace injuries (ChalkBites) as well as products to automate workflow, applications, insurance verification, loss runs and commercial lines sales. The 12 selected are:

• Agentero, Oakland, Calif.: agency sales and service program
• Broker Buddha, New York, N.Y.: simplifying commercial lines application and renewal process
• ChalkBites, Inc., Davenport, Iowa: virtual reality training to help reduce workplace injuries and claims
• CogniSure, Warrenville, Ill.: extracts data from policies, loss runs, quotes and submissions
• ConsumerOptix, Dayton, Ohio: personalized media for online enrollment
• Goldfinch Health, Austin, Tex.: a Nurse Navigator to guide patients through surgery and healing
• Loss Run Pro, LLC, Missoula, Mont.: automated system to retrieve loss runs
• MakuSafe Corp., West Des Moines, Iowa: analytics for mitigating workplace hazards and risk exposures
• ProNavigator, Kitchener, Ontario, Canada: automates and accelerates insurance industry workflows
• Talage, Inc., Reno, Nev.: digital distribution product for small business
• TRUSTLAYER, INC., San Francisco, Calif.: automated system for verifying businesses have right coverage.
• Wunderite, Inc, Boston, Mass.: automated insurance applications

The partners behind BrokerTech Ventures are:

• Holmes Murphy – Co-Founder (Des Moines, Iowa)
• M3 Insurance – Co-Founder (Madison, Wis.)
• PayneWest Insurance (Missoula, Mont.)
• ABD Insurance & Financial Services (San Mateo, Calif.)
• Conner Strong & Buckelew (Camden, N.J.)
• Assurance (Chicago, Ill.)
• InterWest (Sacramento, Calif.)
• Graham Company (Philadelphia, Penn.)
• Hylant (Toledo, Ohio)

The accelerator will operate out of Gravitate in downtown Des Moines. Following the five-week curriculum, BrokerTech Ventures will host a Summer Road Show series, May-August, 2020.

Source: BrokerTech Ventures