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BrokerTech Ventures announces its 2022 cohort
BrokerTech Ventures (BTV) has announced the 12 insurtech startups that will take part in the 2022 cohort. “As we kick off the third year of our BTV Accelerator, I am thrilled with the diversity of technologies we were presented and will move through the accelerator, as well as the amount of international interest and presence…
Global Insurance Symposium returns to Des Moines this April
The Global Insurance Symposium (GIS) has announced its 2022 conference will return this April and will take place at the Community Choice Credit Union Convention Center in Downtown Des Moines. Set to take place April 21-23, the three-day symposium will provide a venue for those in the insurance industry to address and discuss issues impacting…
Global Insurance Accelerator announces seven teams for 2021 cohort
The Global Insurance Accelerator (GIA) has announced the seven startups that will make up its 2021 cohort. The cohort will launch on January 19 with the seven InsurTech companies virtually joining the accelerator’s annual 100-day program.  “With the 2020 experience and the continued support of our insurer investors and industry mentors, we moved forward with…
Limelight Health acquired by FINEOS for $75 million
Dublin-based insurtech business FINEOS has acquired Limelight Health for $75 million. FINEOS plans to expand its product offering with the acquisition of Limelight Health, a US-based provider of quoting, rating, and underwriting solutions for group and voluntary employee benefits. LimeLight Health, an insurtech software company, based in San Francisco, expanded its operations to Des Moines in…
Seven companies pitch virtually to cap off GIA’s 2020 cohort
The culmination of the Global Insurance Accelerator and its 100 day program came Wednesday afternoon as the seven companies in the 2020 cohort presented to more than 350 people who attended the online event. On March 16, day 63 of this year's cohort, the GIA converted its 2020 cohort to a fully remote program.  "We have…
Denim Summit 2018 examines the InsurTech and FinTech industries
More than 100 marketing, technology, innovation, and business leaders from the insurance and financial services industry gathered in downtown Des Moines on October 24 and 25 for Denim Summit 2018. In addition to the main day of events, Denim held an opening reception at their new headquarters in downtown Des Moines on the evening the of the…
Insurtech Week brings together insurance startups from around the world
16 insurtech startups gathered in Des Moines last week along with technology, innovation, and business leaders from the insurance industry for a number of innovation activities put together by the Global Insurance Accelerator (GIA). The activities included innovation presentations, co-working, networking, education and matchmaking for pilots and capital raises with the bulk of the week's activities…
16 companies set to participate in InsurTech Week 2018
The Global Insurance Accelerator (GIA), has announced the agenda for InsurTech Week 2018, and the companies selected to participate this year. Set to take place October 22-26, InsurTech Week 2018 will bring 16 startups to Des Moines, providing them with networking and education opportunities. The 16 companies participating in this year's InsurTech week are: Album Health (Des Moines, IA)…
InsurTech Archives | Clay & Milk
A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.
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