Saturday, June 15, 2024

BrokerTech Ventures Accelerator Opens for 2024 Cohort Applications

BrokerTech Ventures (BTV), the industry’s first broker-led convening platform and accelerator program, has opened the application window for its 2024 BrokerTech Ventures Accelerator program.

Since its founding, BTV has grown to include 12 of the most notable super-regional brokerage firms in the nation, 13 of the world’s most highly respected insurance carriers and wholesalers, and 48 insurtech startups from around the world. BTV has also been instrumental in helping build and fuel the Israeli and Latin American accelerator programs. The company is dedicated to fostering innovation in the insurance space by providing early-stage insurtech companies the support to develop tech solutions for the industry.

“BTV has experienced amazing results from the first four cohorts, with startups generating over 200 proofs of concept or pilots with our partner organizations and collectively raising over $250 million in funding since their participation in the accelerator. This is a true testament to BTV’s ability to attract investment and support entrepreneurs in the insurtech space,” said Dan Keough, Holmes Murphy Chairman and CEO and BrokerTech Ventures Co-Founder. “With the fifth cohort, I believe we can expect new insurtech solutions with greater influence and even more diversity of thought for the industry. I’m excited to see what the startups will bring to the table.”

The concept of the BTV Accelerator is to be an “innovation hub” and proof of concept environment for broker-centric products and technology solutions, ultimately bringing validated solutions to the industry. The ideal candidates for the Accelerator are early-stage insurtech startups.

“It’s hard to image this will be our fifth cohort, but I’m just as excited as I was in year one to see these startups dramatically change with the help of BTV,” said John Jackovin, BrokerTech Ventures Accelerator Executive Director. “This acceleration is directly attributed to all of our broker, carrier, and wholesaler partners looking for the latest technologies and products that will help them identify risks sooner, provide better service, and drive down costs.”

The deadline for BTV Accelerator submissions is December 18, 2023. The initial review will be in January, with the top 20 startups chosen to take part in the Selection Series in early March. The Selection Series will be a virtual event where BTV partners can dig deeper into the products, companies, and teams. Subsequently, the cohort will begin the five-week Accelerator program in April 2024. More than $500,000 in funding is at stake for the selected broker-centric, seed and early-stage startups, with each startup receiving $50,000.

“In addition to the BTV Accelerator application opening, the BTV delegation just returned from a week of dedicated insurtech events and networking alongside the InsureTech Connect (ITC) Conference in Las Vegas, Nevada,” said Susan Hatten, Holmes Murphy Chief Marketing Officer and BTV Chief Operating Officer. “In conjunction with ITC, BTV hosts a broker-led afternoon of curated content — BrokerTech Connect — followed by our signature event — BTV’s Happiest Hour. This is a great opportunity for the startups who take part in our BTV Accelerator to network with our 12 broker partners, 13 carriers/wholesaler partners, and their accelerator cohort colleagues (and the cohort members from years prior), as well as a host of additional insurance leaders, investors, and insurtech enthusiasts. We view this as not only instrumental for the startups who take part in our accelerator, but for the insurance industry as a whole.”

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