Deadline: September 20, 2024
Applications are open for the Global Insurance Accelerator Program 2025. The Global Insurance Accelerator is a mentor-driven business accelerator designed to foster innovation in the insurance industry. They take in early-stage companies who are building solutions that support the insurance industry. They provide seed funding, networking with their mentors, 100-days of ongoing support and a final presentation to a large audience of insurance professionals.
This is not your typical accelerator. Their investors are insurance carriers, mentors are primarily insurance professionals. Participating in this program is a highly strategic decision to find product-market fit and do customer discovery faster than you could ever do on your own. They run one 100-day program annually from mid-January to the end of April, to align with the Global Insurance Symposium in Des Moines, Iowa.
Benefits
- Investment
- The GIA Fund, backed by insurance company investors, will make an equity-based investment of $50,000, converting to 5% of the company in the form of a post-money SAFE (Simple Agreement for Future Equity). Each selected company will receive the same standard investment terms and amount. Final key investment terms will be communicated to all applicants prior to accepting an interview with the selection committee in November. Terms are not negotiable.
- Mentorship
- The GIA’s mentor program is their secret sauce and they pride their selves on this. It’s been proven that one of the single most important aspects of the success of their portfolio companies is the mentoring and connections they will receive from the experts in the insurance industry.
- Mentors are involved in almost every activity and session they provide to their founders. Mentors raise their hands to help lead or co-lead workshops and panels, they step in to help shape pitch presentations for the founders, and also work closely with each founder on their business needs.
- The 100 Day Program Phases
- The hybrid program will be conducted in-person in Des Moines, Iowa (required) for a total of 5.5 weeks and virtually for 9 weeks. Housing will be paid for during the 5.5 weeks in Des Moines. Each founder has the option to stay in Des Moines for the entire program, however housing will not be paid for during the virtual 9-week period. They structure the nearly 15-week accelerator program in three phases to mindfully support the acceleration of your startup during that time.
Eligibility
- The typical profile of a company who applies to the GIA’s accelerator program includes:
- Early-stage insurtech company (Pre-seed to seed stage).
- Insurance industry focused solution.
- US insurance industry is where you will start or expand your customer focus.
- 1-2 founders who will roll up their sleeves in the immersive program.
- They take the “Global” in GIA seriously and have had five continents represented in their cohorts over the past nine years. They’re looking for firms that have a potential or current US operations on their roadmap but you can come from anywhere.
Application
For more information, visit Global Insurance Accelerator.
