GIA’s Eighth Year Features Cohort of Eight InsurTech Startups
DES MOINES,IA – December 21, 2021 –The Global Insurance Accelerator (GIA), a Des Moines, Iowa-based mentor-driven business accelerator focused on fostering innovation in the insurance industry, is thrilled to announce the eighth cohort will begin on January 12, 2022, with eight InsurTech companies joining the accelerator’s annual 100-day hybrid program.
As the world continues to navigate the ever-changing COVID pandemic, the global startups and founding teams selected for the 2022 cohort are tackling some of the industry’s current biggest challenges impacting the future of work: recruitment and training of diverse employees, supporting financial wellness, and insurance tools to create efficiencies.
“This will be my fourth GIA program and the fourth version that I have had the opportunity to build,” said Nicole Gunderson, managing director of the GIA. “I believe leading with a hybrid program in 2022 has allowed us to attract an outstanding set of founders who appreciate the opportunity to spend one-third of the 100-day program in Des Moines, Iowa, where the state is home to more than 200 insurance companies. They can balance the ability meet many potential insurance mentors firsthand with the option to return home anywhere in the world to continue through the program. Feedback from prior years gives us the confidence that this model is a very compelling and effective one and makes our program globally competitive.”
The GIA’s 2022 cohort members include:
- Adjust Square is a claims automation technology that enables P&C carriers to settle personal property claims 100x faster by locating accurate replacement items from a proprietary database of 250+ million products.
- EquiX is a SaaS platform used by commercial property adjusters and pre-loss underwriting reps to more accurately inventory and value commercial BPP contents, machinery and equipment.
- Insurtic is a fully customizable, no-code AI-based platform designed to increase productivity in insurance teams and automate repetitive workflows.
- Optikal Care is a contact care subscription service which provides comprehensive eyecare while breaking down the high cost of contact care.
- Safari is a career training and recruitment software platform built to help the insurance industry recruit and train the next generation of diverse talent.
- RainyDayPal is an innovative financial wellness benefit to help American workers pay for unplanned emergencies and transform how we think about and deliver “emergency funds.”
- Thumbscore is a quantum-powered engine for insurers to offer financial well-being to individuals, giving each a personalized financial GPS for everyday guidance and education.
- TripDoctor is a concierge application backed by a Care Concierge team and curated local doctor network that is revolutionizing international health insurance by supporting customers when they need to find care while abroad.
Each year, through a robust selection committee made up of the GIA’s 11 prominent insurer investors and two outside board directors, the program invites a select group of early-stage InsurTech startups to join the equity-based accelerator. The eight startups will each receive mentorship from insurance executives and professionals from all lines of business, along with a $50,000 investment and housing for the in-person portions of the program. Since the program began in 2015, the GIA has invested $2.3 million across 50 startups to advance the InsurTech industry.
“What started as an idea to foster innovation in the insurance industry in 2014 has grown into a pillar of innovation for each of the insurance companies who serve as investors in the GIA,” said Dave Wingert, EVP and COO of Grinnell Mutual Reinsurance Company (Grinnell Mutual) and board chair for the GIA. “As we look ahead to 2022, we’re really impressed with the teams and looking forward to getting to work with them.”
The GIA will conclude the 2022 program with final presentations during the Global Insurance Symposium on April 20, 2022.
For information on the GIA, please visit www.globalinsuranceaccelerator.com.
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About the Global Insurance Accelerator (GIA)
Our investors are insurance companies. Our 100+ mentors are insurance professionals. Be part of the insurance industry’s accelerator. Headquartered in Iowa, home to 200+ insurance companies, the Global Insurance Accelerator (GIA) is a mentor-driven business accelerator designed to foster innovation through global startups building solutions for the U.S. insurance industry. The GIA operates an equity program in the spring for early-stage insurtech companies and a non-equity program in the fall for growth-stage insurtech companies. To learn more visit www.globalinsuranceaccelerator.com and follow us on LinkedIn at: https://www.linkedin.com/company/global-insurance-accelerator/