Insurance Industry Offers Seed Funding, Mentoring and Business Development to Tech Startups

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The Global Insurance Accelerator is seeking technology start-up entrepreneurs to help the industry find new ways to boost efficiency, manage risk and save money through disruptive technologies by offering seed funding, mentoring and a long list of potential customers. The application deadline is Jan. 15, 2015.

The Global Insurance Accelerator is focused on technology companies that are, or can be, serving the insurance industry.

The Global Insurance Accelerator offers seed funding, mentoring from insurance industry professionals and a conduit to potential insurance industry clients worldwide.

The Global Insurance Accelerator offers seed funding, mentoring and C-level introductions for product development, marketing, sales, scaling technology, raising capital and legal matters for companies that are, or can be, serving the insurance industry.

The application deadline is approaching fast for the first class of technology entrepreneurs in the Global Insurance Accelerator, which offers seed funding, mentoring from insurance industry professionals and a conduit to potential insurance industry clients worldwide.

An initiative of the Greater Des Moines Partnership, the Global Insurance Accelerator offers tech startup entrepreneurs selected for the program the chance to gain an inside track in an industry many of them may not have considered a natural market.

“Startup and early-growth companies often need help getting a foothold at the enterprise level,” Global Insurance Accelerator Managing Director Brian Hemesath, said. "The accelerator will offer seed funding, mentoring and C-level introductions for activities such as product development, marketing and sales, as well as broad categories for scaling technology, raising capital and legal matters."

"Simply put, the goal of the business accelerator is to accelerate growth. It is an entity that invites people with solutions and products to receive mentoring and fast-track their growth. The unique twist on our accelerator is that it is focused on companies that are, or can be, serving the insurance industry,” Hemesath said.

The concentration of insurance companies in the Greater Des Moines area, combined with the city’s hosting of the annual Global Insurance Symposium, make it a natural location for the accelerator. The Symposium brings together hundreds of international insurance industry leaders to address areas of mutual concern. Technology is always at or near the top of the list.

Entrepreneurs and startup companies interested in being in the first Global Insurance Accelerator class should apply online now to beat the Jan. 15, 2015 deadline. The six winning concepts will receive $40,000 of seed funding in exchange for a small equity share in their companies.

Concept teams will be mentored by insurance industry professionals for the next 100 days, culminating when the teams will demonstrate their products at the 2nd Annual Global Insurance Symposium in Des Moines, May 26-28, 2015.

Areas of immediate interest to the Global Insurance Accelerator include security, fraud, performance analysis, data harvesting, mobile and self-service apps, risk management, reporting, actuarial, quoting and documentation.

Hemesath is confident there are additional focuses that haven’t yet been considered. “Insurance is a global industry that is ready for new tech-driven solutions and products to help it be more efficient, and I'm excited to see what comes of our first class of companies."

About the Global Insurance Accelerator

The Global Insurance Accelerator is backed by seven Des Moines-area insurance organizations: American Equity Investment Life Insurance Company, Delta Dental of Iowa, Farm Bureau Financial Services, Farmers Mutual Hail Insurance Company, Grinnell Mutual Reinsurance Company, The IMT Group and Principal Financial Group. The Global Insurance Accelerator is an initiative of the Greater Des Moines Partnership. For more information please visit http://globalinsuranceaccelerator.com/.

About the Greater Des Moines Partnership

The Greater Des Moines Partnership is the economic and community development organization serving Central Iowa, united to drive economic growth with one voice, one mission, and as one region. Together with 21 Affiliate Chambers of Commerce and 5,000 business members, the Partnership grows opportunity, creates jobs, and promotes the best place to build a business, a career, and a future. More information at https://www.desmoinesmetro.com/.

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