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Iowa insurtech accelerator admits its largest cohort

January 24, 2018

Iowa insurtech accelerator admits its largest cohort

Greater Des Moines, Iowa, has the highest concentration of insurance employment among metros in the U.S. It’s also become the breeding ground for insurance technology (InsurTech) that could revolutionize the industry.

Des Moines is home to the Global Insurance Accelerator, the world’s first business accelerator focused on InsurTech. The 2018 cohort of companies, which entered the accelerator this month, is the accelerator’s largest, with eight companies from four countries and four states.

These are the companies in Des Moines for the 100-day program:

  • Byeo (Chihuahua, Mexico): An online tool for collecting relevant life insurance information in a secure, social environment.
  • HomeClub (Tempe, AZ): A mobile verification app that validates the installation of smart-home products.
  • InsuredMine (Dallas, TX): A cloud-based insurance management application for coverages, payment reminders, document storage and analytics to help people make informed choices.
  • Insurmi (Phoenix, AZ): An AI-driven, life insurance app that helps consumers easily calculate coverage needs and compare quotes from the nation's top insurers.
  • JAUNTIN' (Toronto, Ontario): An on-demand insurance platform allowing insurers to distribute micro-insurance via smartphones and optimize data collection to improve risk and pricing.
  • Lvlfi (London, UK): A company that gamifies exercise to help incentivize healthy lifestyles and lower risks of diabetes/cardiovascular disease/cancer.
  • ProtectRisk (Washington, DC): A marketplace and social network designed to connect and sell insurance products and improve collaboration between insurance retailers and wholesalers.
  • RiskPossible (Miami, FL): An engine allowing insurers to continuously underwrite in-force policy portfolios and react to any relevant changes in individual risks.

The Global Insurance Accelerator is backed by insurance company investors from throughout the country. Startup companies come to Des Moines for $40,000 in seed investment and an intensive program where they receive mentorship from local insurance professionals and fine-tune their products. At the end of the program each startup pitches to a room of investors, including c-suite executives from insurance companies.

Iowa’s insurance sector is thriving, and the state is home to one of the largest concentrations of insurance professionals in the country. Download a fact sheet about Iowa’s insurance industry at iowaeconomicdevelopment.com/financial.

 

 

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Iowa Economic Development Authority
200 East Grand Avenue
Des Moines, Iowa 50309
Phone: 1.515.348.6200
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