The Global Insurance Accelerator, a Des Moines, Iowa-based insurtech program backed by more than a dozen insurers, has announced an eight-company cohort in its fourth year.
This year's 100-day mentoring program begins on Jan. 16. Members receive $40,000 in funding in exchange for six percent equity while they work to refine their product. Over the course of the program, companies get business support from program mentors, as well as exposure to insurance company professionals, industry influencers and potential additional investors. Each startup also receives subsidized housing for the duration. It concludes with live pitches at the Global Insurance Symposium at the end of April.
“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.”
This year's cohort includes:
• Byeo (Chihuahua, Mexico): An online tool for collecting life insurance information in a secure, social environment.
• HomeClub (Tempe, AZ): A mobile app that validates the installation of smart-home products.
• InsuredMine (Dallas, TX): A cloud-based platform for policyholders to manage their insurance documents and coverages.
• Insurmi (Phoenix, AZ): An mobile app that uses AI to help consumers calculate coverage needs and compare quotes.
• Jauntin’ (Toronto, Ontario): An on-demand insurance platform that insurers can use to distribute micro-insurance via smartphones.
• Lvlfi (London, UK): A company that gamifies exercise to help incentivize healthy lifestyles.
• ProtectRisk (Washington, DC): A social marketplace 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 react to any relevant changes in individual risks.
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