Global Insurance Accelerator Welcomes Largest Cohort
Staff Writer | January 12, 2018
The 2018 cohort of the Global Insurance Accelerator (GIA), the world’s first business accelerator focused on insurance technology (InsurTech) innovation, is the largest class to-date, representing four distinct countries and technologies which span all insurance lines of business in terms of applicability.
The 100-day, mentor-driven program kicks off on January 16, and will give this year’s startup teams an important opportunity to become immersed in the technology and insurance-rich environment in Iowa generally and Des Moines in particular. During the program, the GIA provides cohort members hands-on business support from program mentors, exposure to insurance company professionals, industry influencers and potential additional investors, as well as opportunities for extensive networking and education.
The 2018 GIA cohort includes companies which have built innovative products and business models incorporating artificial intelligence (AI), gamification, continuous underwriting, portals, apps, IoT/connected world devices, and much more. Cohort teams for 2018 include:
- Byeo (Chihuahua, Mexico): An online tool for collecting relevant life insurance information in a secure, social environment.
- HomeClub (Tempe, AZ): A mobile verification app which validates the installation of smart-home products.
- InsuredMine (Dallas, TX): A cloud-based insurance management application for coverages, payment reminders, document storage, and analytics to help insureds make informed choices.
- Insurmi (Phoenix, AZ): An AI-driven, life insurance app which helps consumers easily calculate coverage needs and compare quotes from the nation’s top insurers.
- Jauntin’ (Toronto, Ontario): An on-demand insurance platform allowing insurers to distribute micro-insurance via smartphones and optimize data collection to improve risk and pricing.
- Lvlfi (London, UK): A company which gamifies exercise to help incentivize healthy lifestyles and lower risks of diabetes/cardiovascular disease/cancer.
- ProtectRisk (Washington, DC): A marketplace and social network designed to connect and sell insurance products, and improve collaboration between insurance retailers and wholesalers.
- RiskPossible (Miami, FL): A continuous underwriting engine allowing insurers to continuously underwrite in-force policy portfolios and react to any relevant changes in individual risks.
“The companies the GIA typically brings in to the program may be early stage, but the technologies they are working with and the applications they are developing for the industry get more interesting and mature each year,” said Brian Hemesath, managing director of the GIA. “This is going to be an awesome year.”
The GIA cohort members receive $40,000 in funding in exchange for six percent equity. Each startup also receives subsidized housing for the duration of the program, which is one block from the accelerator’s office. Most importantly, the GIA’s mentor-driven program provides cohort members with direct connections to invaluable firsthand knowledge of the industry and insights from true industry experts. The GIA’s fourth cohort concludes with the startups pitching live onstage at the Global Insurance Symposium at the end of April.
Based in Des Moines, the GIA is backed by insurance company investors from across Iowa and the U.S., including Allstate, American Equity Investment Life Holding Company, Delta Dental of Iowa, EMC Insurance, Farm Bureau Financial Services, Farmers Mutual Hail Insurance of Iowa, Grinnell Mutual Reinsurance Company, IMT Insurance Company, Mutual of Omaha Insurance Company, Markel Corporation, Principal Financial Group, SFM, and W.R. Berkley Corporation.
For information on becoming an investor in the GIA, or on applying for the 2019 GIA program, please visit www.globalinsuranceaccelerator.com.
- Enterprise Architecture in an Agile World
- Top 10 Tips for Securing Your Mobile Devices and Sensitive Client Data
- Industry Insight: 4 Global Insurance Trends in Digital, Data, Content Services and Security
- Diving Deeper into Prioritizing Your Strategic Digital investments
- Why Content Rules
- How Mass Personalization Will Open the Small Business Benefits Market
- At Year End 2017, Will Your Organization Be Protected from Cyber Risks?
- Do Insurance Bots Dream of Mitigating Risk?
- Conditioned to Respond
- Managing & Mobilizing Insurance Data in a Connected World
- Race to the Finish Line
- New Tools, New Opportunities in Claims
- ITA LIVE: Reaching Insurance Industry Crossroads
- Advice to Insurance IT Leaders: Keep Your Eye on the Ball
- New Date, Venue for ITA LIVE 2017
- Guidewire Makes Major Push to Small and Midtier Market by Acquiring ISCS
- Insurance Disruption is Happening Right Now
- Insurity Adds Strategic Investment Partner, General Atlantic
- Beyond Transformation: The Convergence of Finance, Risk, and Actuarial Functions
- The Rapid Evolution of Consumer Protection Regulation
- Talent Hunt: Finding, Attracting, Retaining Top People
- Insurers Flexing Their Distribution Models
- Technology Driving Disruption in Insurance
- Fear of ‘Next Bubble’ Challenges Life, Annuity Carriers
- Technology Allows Commercial Lines Insurers to Stand Out
- Single Sign-on Viewed as Biggest Tech Challenge for Agencies
- ISCS Observes 20th Anniversary; Scurto Predicts Major Changes Ahead
- Policyholders and Their First Impressions
- Progressive Making Progress on the UBI Front
- High and Dry: Insurers Search for Disaster Recovery Plans
- Insurers Sign The (Un)Dotted Line
- Reflections of a Retired Insurance CIO
- Mobile Device Management Just One Answer to BYOD Issue
- Lessons from GEICO and Progressive on Winning the Critical Buying Stage
- You Are a Target for a Cyber Attack
- Web-based Systems are the Next Evolution in Claims Technology
- Gaining a “Wow” Experience from Web Users
- Time to Shift from Business/IT Alignment to Business/IT Alliance
- Healthcare Insurers Changing to Consumer Model
- Organization is the Key for Selecting Software Vendors
- Analysts Expound on the Needs of the Mid-tier Insurance Market
- Finding the Cure for Obamacare’s Website
- New Software Solutions Benefit Insurers on the Inside and Outside
- Products, Market Impede Investment in Systems for Life Insurers
- Combatting Cyber Threats: Predict, Prevent, Persist
- The Future of Telematics Heads Beyond Insurance
- The Shame in Cyber Security Lapses
- Building Policy Administration Systems for the Future
- Insurers Look Into The Eyes of Their Policyholders
- It’s a New Dawn for the ITA
INSURANCE IT NEWS
- Tower Selects EIS Group’s Insurance Platform to Drive Transformation
- NTUC Income Selects Majesco Distribution Management and Majesco Digital Solutions to Advance its Distribution Management Operation
- Emerson Reid Modernizes Its Business Processes With VUE Software
- Octo Telematics Powers CAA MyPace™ Pay-As-You-Go Program
- Announcing the Solartis Insure Microservice Hackathon
- DataCubes Completes Plug and Play Tech Accelerator Program
- Medical Mutual of Ohio Implements One Inc Digital Payments
- SUNZ Insurance in Production with Sapiens’ Workers’ Compensation CompSuite® Policy System
The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.
ITA is pleased to present the 2014 Webinar Series. We have many topics for you to choose from and attendance is open to all ITA members. The webinar topics are current and exciting — ranging from predictive analytics to telematics and will focus on the direction insurance carriers need to follow for the future. All webinars are presented by insurance IT professionals along with some of the leading analysts and consultants in the field. There is no cost to attend an ITA webinar. For more information and to register for the webinar, click the “title” of the webinar below.
BLOGS AND COLUMNS
It has become a common refrain over the past few years to view the practice of enterprise architecture (EA) as something that time has passed by, much... READ MORE
One important trend in society over the past decade is our increasing ability to create and consume a seemingly unlimited amount of digital content... READ MORE
You have surely heard it said that small businesses are the growth engine for America. Today, the phrase has a special ring to it for benefits... READ MORE
With stagnant growth and lingering low interest rates, the life insurance industry faces a challenging future... READ MORE
Finding insurance carriers willing to write commercial lines risks has always been a challenge for producers... READ MORE
As Guidewire Software prepares for the start of Connections, its 11th annual user conference that begins on Nov. 2, Brian Desmond, chief marketing... READ MORE
Fraud detection has always been and will continue to be a critical component of claims management. Learning the lessons from current claims Straight... READ MORE
- Vendor Views