MLTPLY Launches to Bring Seed-Stage Insurtech Startups to Market in 6 Months
Aimed at seed-stage companies that are solving small businesses’ and consumers’ protection and insurance needs in areas of property and casualty, MLTPLY will place a special focus on companies where technology and coverage are key areas of innovation, including telematics, new data, new markets, complex markets, and non-admitted offerings that need technology scale.
“Simultaneous delivery of coverage, experience and technology innovation in insurance is prohibitively costly — it’s too highly regulated,” said Gloria Guntinas, CEO of MLTPLY. “But there are plenty of $150 million opportunities out there that are blocked from funding because they’re too small for big insurance companies to dedicate resources to. There’s massive potential in these seed-level startups, and MLTPLY helps them realize that value by freeing them from the time-consuming core business functions so they can focus entirely on solving market changing problems.”
MLTPLY has created an environment to foster rapid and cost-effective delivery of insurtech products by granting entrepreneurs support so that they can focus on solving the key problem they have identified in the market. Shared services and knowledge make the process easier, ensure costs are scalable, and free startups from stressing over much-needed insurance compliance. The structure not only accelerates insurtech products to market but increases the likelihood they successfully reach the market because they’re building on tried-and-true methods.
“A good corporate accelerator eliminates distractions and enables the founders to focus time and resources on the problem they’re trying to solve. That’s exactly what MLTPLY brings to the insurtech market,” said Tom Libassi, Co-Founder and Managing Partner of ILS Capital Management, a key investor of MLTPLY. “It doesn’t have to be all or nothing either. For example, even if a startup already has funding, MLTPLY can provide insurance and operational support. That kind of flexibility unlocks the potential we’re seeing in seed-stage insurtech companies.”