Allianz Life Ventures and Securian Financial have partnered with startup accelerator, gener8tor, to establish OnRamp Insurance Accelerator.
Each year, five startups will be accepted into the three-month, concierge accelerator program in Minneapolis-St. Paul. Each will receive a cash investment of $100,000, office space and access to gener8tor’s global network of mentors and investors. Applications are now open for the first OnRamp Insurance Accelerator cohort.
Securian Financial chairman, president and CEO Chris Hilger said: “We are very excited to bring some of the brightest minds in insurtech to the Twin Cities through this new collaboration.
“We are in the midst of a complete digital and technical transformation at Securian Financial, and our investment in the accelerator will give us further opportunities to collaborate with and learn from entrepreneurs developing the next generation of technology that will reshape our industry. We also feel that this is a great economic development opportunity for the Twin Cities, as startups from all over the country will get to see first-hand why the Twin Cities is such a wonderful place to live and build a business.”
Allianz Life president and CEO Walter White said: “We are pleased to partner with gener8tor to support the insurance tech startups that are developing the tools and technology for tomorrow’s insurance industry.
“We have a common vision of the potential of new technologies, and a commitment to finding new, innovative and efficient ways to serve our contract and policyholders both today and for years to come.”
The creation of the OnRamp Insurance Accelerator builds off the success of the industry-leading OnRamp Insurance Conference. As part of the new Allianz Life Ventures, Securian Financial and gener8tor relationship, the annual OnRamp Insurance Conference will be held in Minneapolis-St. Paul. The 2019 OnRamp Insurance Conference will take place on 11th April, next year at Target Center.
Started by gener8tor in 2016, the OnRamp Insurance Conference brings together the insurance industry’s leading corporations, investors and startups. The event specifically focuses on connecting insurance startups and investors with insurance executives in corporate venture capital, innovation, M&A and strategy. The conference highlights innovations disrupting the insurance industry, the leaders making such innovations possible and how new technologies and business models will reinvent the industry. The one-day event, which always takes place in a sports stadium, includes a full day of programming.
gener8tor co-founder Troy Vosseller said: “The OnRamp Insurance Conference will bring thousands of insurance executives, investors and startups to the Twin Cities. To build off of those relationships, we are thrilled to team up with two of the best carriers in the business to invest in the best insurtech startups via the OnRamp Insurance Accelerator.”
Source: Company Press Release