Iowa-based business accelerator the Global Insurance Accelerator has named the InsurTech startups that will make up its seventh cohort.
The accelerator is traditionally based in Des Moines but this year it will run virtually for 100 days, something that GIA trialled in 2020 due to the pandemic.
“With the 2020 experience and the continued support of our insurer investors and industry mentors, we moved forward with confidence in making the tough decision to begin the 2021 program virtually,” said Nicole Gunderson, managing director of the GIA.
“The startups selected as part of our 2021 cohort have solutions for all lines of business which, with time, dollars and development, will help make the small commercial segment more accessible, allow insurers to launch pet insurance programmes easily, transform the insurance purchasing experience, enable a faster response to catastrophic losses, and much, much more. I’m honoured for the opportunity to work together. Seven startups in year seven has a nice ring to it.”
The first company named in the 2021 cohort is Anodz, an enterprise intelligence platform designed to measure, manage, and improve workforce and business performance through predictive and actionable insights.
The second is named Jayde. The startup has developed a solution offering comprehensive, subscription-based products for small business owners that eases the decision-making related to selecting and maintaining the right coverage.
Rainwalk is an API-driven, turnkey platform which enables property and casualty insurers to white-label and offer pet insurance coverage to further monetize existing customers and maintain a consistent customer experience.
The fourth startup is named Reeske. It is the enterprise behind a digital life insurance shopping platform aiming to transform the insurance purchasing experience and helping redefine the customer relationship with insurance.
Sola has created a data-driven supplemental insurance plan which covers immediate out-of-pocket expenses for homeowners following losses from natural disasters, such as tornadoes.
Solar Insure is a provider of extended warranty and protection plans for homeowners who install residential solar energy systems in order to protect and accelerate consumer investment in the solar industry and the world’s transition to renewable energy solutions.
Finally, Vaartani has created a risk management solution powered by AI which enables insurers to distribute, underwrite, and manage exposures unique to e-commerce sellers on marketplaces, such as Amazon and Shopify.
“In the midst of a truly global crisis, the need for innovation in our industry was highlighted,” said Dave Wingert, EVP and COO of Grinnell Mutual Reinsurance Company and board chair for the GIA.
“By leading with a virtual programme, this year’s application field was our most diverse yet and we were impressed by the quality of these founders and their solutions. We look forward to working with all our incoming teams and to hopefully being able to conduct an in-person Demo Day at this year’s Global Insurance Symposium.”
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