Next Generation of Innovative Insurtech Companies to Join Accelerator
Startup accelerator, gener8tor, and two leading organizations in the insurance space, Allianz Life Insurance Company of North America (Allianz Life) and Securian Financial, announced today the five participants of the 2022 OnRamp Insurance Accelerator: Botdoc, ForwardLane, Manifest, Nestimate and White Swan.
The startup companies are contributing innovative solutions to the insurance industry through services that include digitally enabled insurance brokerage, software analytics tools empowering guaranteed 401k income, secure portals for external business transactions, consolidated retirement accounts, and personalized insights for wealth managers, asset managers and insurers.
gener8tor developed the OnRamp Insurance Accelerator in collaboration with Allianz Life and Securian Financial in 2019. Since then, the accelerator has conducted three successful programs with today’s announcement marking the fourth cohort of the program. The accelerator selected these five companies from more than 500 insurtech and fintech startups from across the world that applied to the program, making the selection process extremely competitive.
“The OnRamp Insurance Accelerator is an important way for Allianz Life to support entrepreneurial growth and innovation in our industry,” said Chad Virgin, managing director, Allianz Life Ventures, corporate venture arm of Allianz Life. “These startups are playing a huge role in driving change and making insurance solutions more accessible to more people.”
“After two years of successful virtual programming for the OnRamp Insurance Accelerator, we are excited to bring this cohort of innovators to the Twin Cities, where they will engage directly with Securian Financial associates,” said Pete Berlute, Securian Financial senior vice president of enterprise technology.
The Minneapolis-St. Paul based OnRamp Insurance Accelerator is a hybrid accelerator, which includes both in-person and virtual elements. Each startup will receive a $100,000 investment and will work with gener8tor, Allianz Life and Securian Financial teams during the three-month accelerator. The program also provides hands-on and dedicated support for each startup, focusing on growth and scaling their impact, in addition to direct connections with experienced mentors, technologists, corporate partners and investors.
“Making sure every person is covered when it comes to unexpected loss is largely dependent on how easy it is for people to access, understand and purchase the right policies,” said Jackie Mejia, managing director of the OnRamp Insurance Accelerator. “It is exciting to see that this year’s companies are already improving the digital insurance experience for customers, and we are thrilled to work with this talented group of founders to help take their companies to the next level.”
The OnRamp Insurance Accelerator program will culminate in a showcase celebration at InsureTech Connect event in Las Vegas on September 21, 2022 where the startup companies will pitch live to an audience of innovative entrepreneurs, investors and partners. Following the showcase, the program will conduct a two-week series of meetings to connect startup founders with angel investors and corporate venture capital companies.
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