AmWINS, Cincinnati, RT Specialty join BrokerTech Ventures

BrokerTech Ventures, a broker-led platform and accelerator programme, has added Cincinnati Insurance Companies, RT Specialty, AmWINS Group and Amerisure Mutual Insurance Company as partners.

This follows the addition of US-based insurer Travelers earlier in May.

BrokerTech comprises 13 regional, privately held, insurance brokerage firms spanning from Silicon Valley to New Jersey, representing nearly $30 billion in collective annual premiums and more than $2.1 billion in annual distribution. BrokerTech Ventures plans to add additional brokers and stakeholders to the platform moving into 2021.

The BrokerTech Ventures Accelerator has moved into Phase II of the Summer Series, where 12 insurtech startups continue strategic alignment with the agencies for board meetings, additional mentoring, distribution, capital, and brand exposure opportunities. There are currently more than 30 PoCs and pilots circulating through the Accelerator platform.

Dan Keough, BrokerTech Ventures co-CEO and Holmes Murphy chairman and CEO, said: “We view our carrier and wholesale partners as integral in terms of our overall strategy in building out BrokerTech Ventures. Insurance companies are individually spending multi-millions of dollars each year in innovation, and we believe that BrokerTech Ventures can be the convening platform to provide access into the unknowns, idea-sharing, investing, and distribution for the benefit of all. We have socialized our views and philosophy of innovation for the bettering of our industry, and all five of these carrier and wholesale partners subscribe to the same infinite game mindset.”

He added: “Between all 13 of our BrokerTech Ventures agencies, we represent sizable annual premium and wholesale business and they are some of the best in the business. We couldn't be more pleased and look forward to the valuable contributions from Travelers, Cincinnati Insurance, RT Specialty, Amerisure, and AmWINS, as they are plugged in to our accelerator and all towers of BTV operation."