Des Moines, IA – May 26, 2020 – 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.