Managers of the Global Insurance Accelerator program say that program provides $40,000 in seed money for each insurance technology startup accepted into the program, in exchange for 6% of the startup’s equity.
The Des Moines, Iowa-based program will start a 100-day startup school session for the 2018 class of startups Tuesday.
The program was started in 2015. The list of backers includes American Equity Investment Life Holding Company, Delta Dental of Iowa, Farm Bureau Financial Services, Mutual of Omaha Insurance Company, Principal Financial Group Inc., Voya Financial Inc., and a number of property-casualty insurers.
The startups can offer products or services aimed at any type of insurance organization or market.