Insurtech Venture Capital Fund Seeks Digital MGA Startups for Lab

InsurTech Fund, a venture capital fund associated with InsurTech NY, has announced that it will be accepting applications for its first Digital MGA Lab, a three-month program focused on managing general agents.

The program is designed for digital brokers, analytics startups, and European managing general agents (MGAs) seeking to become MGAs in North America. The program will ru for three days in New York City: Model Day on Sep. 26, Capacity Day on Oct. 13, and Distribution Day on Nov. 14.

Companies will be accepted at any funding stage from Series Seed to pre-IPO. Applications will be accepted from July 7 through July 27.

The application is available through the InsurTech Fund website.

“Digital MGAs and startup carriers have been the most successful class of insurtechs in terms of revenue growth and ability to attract funding,” according to David Gritz, InsurTech NY managing director. “Some early missteps with loss ratios have placed a long shadow on MGAs; however, we believe that the next generation of digital MGAs will outperform the current crop. We created this program to help digital MGAs get established properly from the beginning.”

The three-month program will focus on actuarial modeling, insurance capacity and retail distribution. Startups in the program will gain access to program administrators, fronting carriers, and reinsurers looking to provide insurance capacity across major lines of property/casualty insurance. Founders will also gain access to mentors who have built or supported the insurance stack for companies including Hippo, Foresight and Cowbell Cyber.

The application is available through the InsurTech Fund website.

InsurTech Fund will be supporting the MGA Lab in parallel with the InsurTech NY accelerator and MGA Lab participants will be eligible to present at the InsurTech NY demo day.

Topics InsurTech Tech Insurance Wholesale Funding