CIOREVIEW >> Banking & Insurance >>

InsurTech NY has Started Accepting Applications for October Cohort

By CIOReview | Wednesday, July 29, 2020

InsurTech NY, the largest InsurTech community in the New York metro area, announced today that it would be accepting applications for its growth-stage InsurTech accelerator.

FREMONT, CA: The application window will be open from July 21 to August 17, and applications will be accepted through the InsurTech NY website. The program will focus on growth-stage startups with existing customers and range in funding stage between Seed and Series B. It will be open to InsurTechs around the world.

"The InsurTech NY accelerator will focus on the critical moment in time for startups when they are crossing the chasm," said David Gritz, InsurTech NY Managing Director. "Many InsurTechs are able to build a product and get their initial customers; however, the true test is how to scale their business. Our program is about helping InsurTechs to get to scale."

The accelerator will focus on three areas necessary for InsurTechs to scale: market traction, talent acquisition, and raising funds. The program will provide insurance carriers and brokers looking to deploy new technologies and provide financial backing to digital managing general agencies (MGAs).

"The New York ecosystem has all the requisite infrastructure to lead the next wave of digital transformation in insurance," said Erik Matson, CEO of Transverse Insurance. "We look forward to working with the accelerator to support the next crop of digital MGAs and transformative InsurTech solutions."

The program will feature more than 15 carriers and broker members, including Arch Capital, Flagship Insurance, Greenlight Re, Nassau, Nationwide, Lincoln Financial Group, Gallagher, Newton Insurance, Swiss Re, Transverse, Sompo, and Pacific Life. The October cohort will run virtually for twelve days over six weeks.

InsurTech NY supports the insurance innovation community in the New York metro area. InsurTech NY brings together carriers, brokers, investors, and InsurTech startups via bi-monthly programs. InsurTech NY's mission is to drive talent to insurance, make regulation innovation-friendly, attract InsurTechs to the New York metro area, and improve investment.