BrokerTech Ventures Announces Travelers as First Carrier Partner
May 26 2020 - 12:00PM
BrokerTech Ventures (BTV), the industry’s first broker-led investor
group and accelerator program, today announced the addition of its
first carrier partner, The Travelers Companies, Inc. (NYSE: TRV),
to the platform.
Travelers, with major operations in Hartford,
Connecticut, is a leading provider of property casualty insurance
for auto, home and business, with more than 30,000 employees.
“The elevated relationship between BrokerTech
Ventures and Travelers was a natural fit,” said Dan Keough, Holmes
Murphy chairman and CEO and co-CEO of BrokerTech Ventures. “Between
all 13 of our BTV firms, we represent a sizable annual premium with
Travelers and have followed their leadership in terms of carrier
innovation over the past several years. We intend on strategically
partnering with several additional insurance companies that have a
passion for and focus on insurtech innovation, with Travelers
leading the way.”
BTV is made up of 13 super-regional, privately-held insurance
brokerage firms spanning from Silicon Valley to New Jersey,
representing nearly $30 billion in collective annual premiums. BTV
plans to add additional brokers to the platform in the months
ahead.
“We have deep relationships with all the firms
involved with BrokerTech Ventures, and becoming a partner enables
us to more closely collaborate on technology solutions for agents
and brokers,” said Patrick Kinney, executive vice president of
Field Management at Travelers. “Together, we hope to identify new
ways to digitally meet customers’ needs.”
Travelers has several partnerships with incubators
that provide it with early access to startups focused on developing
technology solutions for the insurance industry.
The BTV Accelerator is moving into Phase II of the
Summer Series, where 12 insurtech startups will be strategically
aligned with BTV agencies for additional mentoring, distribution,
capital and brand exposure opportunities. Applications for the BTV
2021 Accelerator Cohort will open in the fall of 2020.
About BrokerTech Ventures
(BTV)Based in the insurance nucleus of Des Moines, Iowa,
BrokerTech Ventures is the first broker-led investor group and
accelerator program focused on delivering innovation to the
insurance agent-broker industry. Founded in 2019, BrokerTech
Ventures provides a venue for the best minds in insurance and
technology to collaborate and bring to market leading-edge ideas
and solutions. BrokerTech Ventures invests in the research and
testing for each of the chosen startups, provides access to veteran
industry mentors, and helps scale the technology to market through
broker distribution channels. Learn more at
www.brokertechventures.com, or follow us
on Twitter (@BrokerTechVen) or LinkedIn.
Contact: Jennifer
Overhulse(859) 803.6597 jen@stnickmedia.com
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