InsurTech NY Opens Applications for its Third Accelerator Cohort

υ InsurTech NY, the largest InsurTech community in North America, announced that it will be accepting applications for its third annual growth-stage accelerator.The application window will run from July 6 to July 29 and applications can be submitted through the InsurTech NY website. The program is designed for growth-stage companies, with initial traction, in the funding stages between Series Seed and Series B. International participants made up more than 30% of past cohorts.

“The InsurTech NY program is designed for startups going from initial launch to mainstream names in the insurance space,” said David Gritz, InsurTech NY Managing Director. “Our past cohorts have a stellar track record with fruitful carrier partnerships, productive fundraises over $360M post-program, and rapid exits of four alumni – IXN, Verikai, TowerIQ, and Breathe Life. This cohort can make the same impact.”

The accelerator is run on a compressed timeline that balances time spent with the value received in a “no fluff” model. Startups focus on market traction, recruiting talent, and fundraising. InsurTechs will connect with insurance carriers and brokers looking to provide insurance capacity and looking to find software solutions to their technology challenges. Startups in the cohort will also be able to meet rockstar InsurTech founders who have exited their companies through acquisition or public markets.

“Transverse Insurance has been a member of the InsurTech NY accelerator program from the beginning. The program has helped us to spot new opportunities, engage with the InsurTech ecosystem, and support our portfolio companies like Amplify Life,” said Mark Hong, EVP, Chief Investment Officer of Transverse Insurance. “We look forward to the opportunity to meet the 2022 cohort and potentially support them with fronting capacity and/or investment.”

The program will feature more than 25 carriers, brokers, and their corporate venture units including Avanta Ventures, CNO Financial, Gallagher, Lockton, QBE, Nationwide, Starr Insurance, Tokio Marine, and Transverse. The program will close with a demo day where the cohort can present to more than 30 dedicated InsurTech investors. Startups can apply at insurtechny.com/accelerator.

InsurTech NY will be supporting its accelerator in parallel with the MGA Lab, run by InsurTech Fund. Cohort companies will have the opportunity to participate in both programs simultaneously.  [IA]