BrokerTech Ventures, the industry’s first broker-led platform and accelerator program, is announcing the addition of four super-regional and national insurance firms as partners:
- The Cincinnati Insurance Companies, Fairfield, OH
- RT Specialty, LLC, Chicago, IL
- Amerisure Mutual Insurance Company, Farmington Hills, MI
- AmWINS Group, Inc., Charlotte, NC
In May, BrokerTech Ventures announced the addition of Travelers and has been developing relationships with the additional firms along the way. All five insurance companies will be featured during the InsureTech Connect, Agency Connect:Virtual on Thursday, July 16, on The Innovation Curve panel, which is fueled by BrokerTech Ventures.
“We view our carrier and wholesale partners as integral in terms of our overall strategy in building out BrokerTech Ventures,” said Dan Keough, BrokerTech Ventures co-CEO and Holmes Murphy chairman and CEO.
Insurance companies are individually spending multi-millions of dollars each year in innovation, and we believe that BrokerTech Ventures can be the convening platform to provide access into the unknowns, idea-sharing, investing, and distribution for the benefit of all. We have socialized our views and philosophy of innovation for the bettering of our industry, and all five of these carrier and wholesale partners subscribe to the same infinite game mindset.
BrokerTech Ventures is made up of 13 super-regional, privately held , insurance brokerage firms spanning from Silicon Valley to New Jersey, representing nearly $30 billion in collective annual premiums and more than $2.1 billion in annual distribution. BrokerTech Ventures plans to add additional brokers and stakeholders to the platform moving into 2021.
“Between all 13 of our BrokerTech Ventures agencies, we represent sizable annual premium and wholesale business and they are some of the best in the business,” said Keough. “We couldn't be more pleased and look forward to the valuable contributions from Travelers, Cincinnati Insurance, RT Specialty, Amerisure, and AmWINS, as they are plugged in to our accelerator and all towers of BTV operation."
The BrokerTech Ventures Accelerator has moved into Phase II of the Summer Series, where 12 insurtech startups continue strategic alignment with the agencies for board meetings, additional mentoring, distribution, capital, and brand exposure opportunities. There are currently more than 30 PoCs and pilots circulating through the Accelerator platform.
Applications for the BrokerTech Ventures 2021 Accelerator cohort will open in the fall of 2020.