Press Release

BrokerTech Ventures and InsureTech Connect Announce Strategic Alliance

Thursday, May 28, 2020

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Des Moines, IA – May 28, 2020 BrokerTech Ventures, the industry’s first broker-led group and accelerator program chartered by 13 super-regional independent brokerage firms, announced a strategic alliance with InsureTech Connect (ITC), the largest insurance technology (insurtech) conference and convening platform in the world. BrokerTech Ventures will fuel ITC’s Agency Connect:Virtual, an insurtech event for the broker-centric community, on July 16, 2020.

"An alliance between BrokerTech Ventures and InsureTech Connect is a natural fit,” said Dan Keough, Holmes Murphy chairman and CEO and BTV co-CEO. “The InsureTech Connect platform brings together the greatest minds around insurtech trends, technologies, and applications. Our desire to engage in and fuel Agency Connect:Virtual comes from BTV’s industry position as the convener of broker-centric innovation, ideation, and communication for the global insurance ecosystem. We represent the brokerage community and the voice of the customer, and we believe there is significant value in the build out of ITC's Agency Connect:Virtual platform in 2020."

Initial conversations began prior to the InsureTech Connect Conference in September 2019, where BrokerTech Ventures launched the company and brand during an event supported by the Global Insurance Accelerator.

“Leading agencies and brokerages are shifting away from transacting around products and more toward gaining access into the insights and unknowns,” said Jay Weintraub, InsureTech Connect CEO. “At the core of the value chain of leading agencies is using their relationships, as well as their understanding of the customers and insights, to drive down cost and improve overall risk for customers and the insurance industry. Technology plays a key role in this transition from a policy-centered to a relationship-centered approach. The way BrokerTech Ventures fuels innovation within the industry made creating this alliance a natural choice as we look to serve the community even better.”

The BrokerTech Ventures Accelerator’s 2020 program is currently in progress, providing funding, curriculum, and intentional network exposure to the 12 startups selected. BrokerTech Ventures’ partners and sponsors operate a combined distribution channel of more than $2.1 billion and have nearly $30 billion in collective annual premium. Agency Connect:Virtual will include a BrokerTech Ventures demo day featuring the 12 innovative companies which are a part of the 2020 cohort.

"As BrokerTech Ventures continues to grow the depth and breadth of our agency, carrier, capital, and startup relationships within the insurtech space, building an alliance with Jay and InsureTech Connect made sense,” said Susan Hatten, BTV COO. “We bring the broker-centric insights to fuel Agency Connect:Virtual in 2020, and we are thrilled to work with the InsureTech Connect team to create an even greater experience by leveraging our BrokerTech Ventures brand and community."

Thursday, May 28, 2020