InsurTech NY News: The Secret to Building a Cohort
There are now 12 accelerators, incubators, studios, and labs dedicated to growing InsurTechs globally. It is now easier than ever to build an InsurTech business.
But it can be difficult to understand how one gets selected into these programs. Most of the time to the outside world, this process is shrouded in mystery. And, most startups simply receive a rejection letter after completing a black box application.
Since we run or influence the process of 17% of the programs and ~25% of the total flow of startups to the programs, we thought it would be helpful to unveil the secrets … just for our readers. Here it goes.
InsurTech Match (Growth Stage Program):
- Target participants: Seed to Series B companies, ARR range 100K to 30M; global scope
- Who picks participants: Carrier & Broker Members
- Max cohort size: No set limit (typically no more than 40)
Criteria for selection: one of the members must choose your company. Members typically choose your company if it addresses one of their annual problem statements. They can also pick you if they believe there is a pilot potential.
Problem statements for 2024: 3rd Party Property Data, Data Engineering Tools, Customer Experience Tools, AI Risk Mitigation, Life Alternative Distribution, Document Ingestion, Submission Platforms in Australia, Estate Planning, Underwriting Workflow Automation, 3rd Party GL and PL Data, Financial Advisory Tools, OCR and Data Pre-fill
MGA Lab
- Target participants: Aspiring MGAs or active MGAs targeting the US market
- Who picks participants: InsurTech NY team
- Max cohort size: 14
Criteria for selection: best mix of team, distribution strategy, and commercial viability of the MGA concept. We also need to believe that one of our reinsurers or capacity providers will be interested in backing you.
Please keep our secret safe. Just kidding. If you or a friend feel you meet the selection criteria, give it a shot and apply. It should take less than 30 minutes.
InsurTech Match: Apply here (Due 7/12)
MGA Lab: Apply here (Due 7/12)
Upcoming InsurTech Community Events and Programs
Leveraging the Latest Broker Tech
Nov 5, 2024 | New York
InsurTech Spring Conference (Pre-Registration Open)
Apr 2-3, 2025 | New York
– 1000+ influencers, 100+ speakers, 10 startup presentations, + expo hall
Our partners over at Locke Lord will be helping to inform the community, by creating a glossary of terms used in the Insurance industry.
MGA – means a Managing General Agent, which has both business and legal context meanings. In the business context, an MGA is an insurance producer…
InsurTech NY Sponsors
Thank you to our InsurTech NY Community Sponsors
If you are interested in sponsoring our community or our 2025 Spring conference, send us a note at contact@insurtechny.com.
InsurTech East Coast Deals, Opportunities, and Partner Events
InsurTech News and Deals
- Anterior ($20M, NEA): New York-based health insurance approval expeditor
- Authentic Insurance ($11M, First Mark Capital): New York based digital captive manager
- Richmond National ($55M, HF Capital): VA-based specialty excess and surplus lines insurance solution
- Sixfold ($15M, Salesforce Ventures): New York-based insurance underwriting tech startup
Partner Events and Programs
- NY DFS Exchange (Jun 30)
- Insurance Innovation Prize (Open through July 22, 2024)
- LIC CEO Forum (Aug 27) – Nashville, Tennessee
- Insurtech Connect Vegas (Oct 15 – 17)
See more information about our partner events here:
https://www.insurtechny.com/upcoming-insurtech-conferences/
Jobs at carrier/broker innovation and venture teams
Travelers – Director, Identity Governance & Administration
Gallagher – Global Programs
Lockton Re – P&C Senior Analyst
See more information and apply via our blog: https://www.insurtechny.com/jobs
Consider Sponsoring InsurTech Spring
Has the InsurTech NY community helped you make a lasting connection? Do you want an opportunity to get your brand out there? Show your support for InsurTech NY by sponsoring our Spring Conference on April 2-3, 2025. To learn more or request information reach out to contact@insurtechny.com.
Best,
David and Tony
InsurTech NY Team
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