Most Globally Diverse Cohort Class to Date Joins GIA in 2017

Business Wire

Third year of the Global Insurance Accelerator’s 100-day program packs wider breadth of innovative ideas into Des Moines

DES MOINES, Iowa--(BUSINESS WIRE)-- The Global Insurance Accelerator (GIA) is pleased to announce its signature 100-day, mentor-driven program will kick off in Des Moines on January 17, 2017 with a cohort comprised of six globally diverse startups.

While in Des Moines, cohort members will have an important opportunity to become immersed in the technology and insurance-rich environment where more than 60 insurance companies are headquartered. The GIA, a business accelerator identifying, developing and growing innovative insurance-centric startups, provides hands-on business support from program mentors and exposure to insurance professionals, industry influencers and potential investors.

The 2017 GIA cohort members include companies with business models built around emerging technologies, such as machine learning, artificial intelligence (AI), and blockchain — which are the foundation of new solutions for insurance companies, distribution channel partners, and more.

Find Bob (Toronto, Ontario): A growth, transition and succession planning tool for financial advisors and insurance agents, utilizing machine learning and elements of gamification for asset protection.
InsuranceMenu (Boston, Mass.): A dynamic, data-driven platform geared toward local insurance agents, creating process efficiencies while bringing insurers closer to the customer.
MotionsCloud (Munich, Germany): Mobile and artificial intelligence (AI) solutions for insurers which streamline and automate claims processes to provide a better customer experience and settle claims faster.
RE-Sure (Detroit, Mich.): A blockchain-enabled, app-driven, smart insurance product designed for the on-demand economy.
Sentrys (Belgrade, Serbia): A data-protection platform providing data security for consumers, vehicle manufacturers and insurance companies.
ViewSpection (Tucson, Ariz.): A platform providing a transparent, collaborative method for agents and policyholders, as well as underwriting, claims and loss control departments, to share information and maximize service while preventing fraud.

Each cohort member receives $40,000 in funding from the GIA for a six percent ownership stake in their venture. Also, the GIA provides a significant housing subsidy for relocation to Des Moines for the duration of the program. But, the primary value for startups is access to the GIA’s mentor network, which provides firsthand knowledge of the industry through targeted networking and education focused on finding a product-market fit for the insurance industry. The GIA’s third cohort concludes with presentations during the Global Insurance Symposium at the end of April.

Based in Des Moines, the GIA is backed by insurance company investors from across Iowa and the U.S., including American Equity Investment Life Insurance Company, Delta Dental of Iowa, EMC Insurance Companies, Farm Bureau Financial Services, Farmers Mutual Hail Insurance of Iowa, Grinnell Mutual Reinsurance Company, IMT Insurance Company, Markel Corporation, Mutual of Omaha Insurance Company and Principal Financial.