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Top 10 InsurTech accelerators & incubators worldwide for aspiring entrepreneurs

Launching an InsurTech startup can be tough, especially because of the lack of access to investment, mentorship, working space, and more. Therefore, accelerators and incubators create launchpads for entrepreneurs who want to launch a fast-growing and robust InsurTech business.

As a result of the rapid growth of InsurTech startups, more and more Insurtech focused accelerators and incubators programs are offered. Choosing the right one to join, is arguably one of the most important things in your startup journey. Your decision should depend on what you need.

tigerlab compiled 10 of the most notable InsurTech accelerators and incubators programs online that will give you a good head start. With that in mind, we handover to you to make the right decision.

Plug and Play

Plug and Play is an accelerator with global headquarters in the Silicon Valley, founded in 2006. They are active in 14 countries around the globe, including Austria, Brazil, China, France, Germany, Indonesia, Italy, Japan, Morocco, Netherland, Singapore, Spain, Thailand, UAE, and the USA. Their most notable exits in Insurtech include Limehealth, Quilt, Muzzley, and HealthPocket.

Highlights:

Equity: No equity is required to join the program.

Process: They run 2 programs per year and applications are open all year round.

Benefits:

  • Access to in-house investment.
  • Access to Plug and Play investor network.
  • Free office space.
  • Land pilot products with Plug and Play partners.
  • Mentorship by the experts and leaders in the industry.
  • Daily networking events.

F10

Founded in 2015, F10 incubator and accelerator is a non-profit organization dedicated to FinTech, RegTech, and InsurTech. They offer a fully-fledged Accelerator Program for Startups in cooperation with Swiss companies in the insurance sectors. They are active in countries like Switzerland, Singapore, and Spain.

Highlights:

Equity: No equity is required to join the program.

Process: They run a few 6-months incubation and 3-months acceleration programs per year at different locations. Only 10 startups will get selected for the accelerator program and around 10–15 startups for the incubator program.

Benefits (incubators):

  • Individual F10 coaching.
  • Access to the F10 investor network.
  • Exclusive access to F10 sandbox to test products with real data from major insurance companies.
  • Mentorships from a pool of 100+ industry experts.
  • Free office space.
  • €15,000 in expenses.
  • Support on incorporation and recruiting.
  • Access to pre-seed investment.

Benefits (accelerators):

  • Access senior executives of the F10 corporate partners.
  • Create pilot products with F10 partners.
  • 1:1 sessions with investors.
  • Free masterclasses on sales, fundraising, and scaling up.
  • Access the F10 sandboxes.
  • Receive exclusive and publicity F10 quality stamp.
  • Free office space.
  • Access to international experts.

Kickstart Innovation

It was founded in 2011, situated in Zurich, Switzerland. Kickstart is one of Europe’s largest zero equity, multi-corporate ecosystem innovation platforms that offer a scale-up program for fast-growing startups to accelerate deep tech innovation in Switzerland. The program is open to startups that are based anywhere in the world or within Switzerland.
Highlights:

Equity: No equity is required to join the program.

Process: They run the program once a year. The application is open from April to June. Around 100 startups will get selected for the 3 months program.

Benefits:

  • Collaborative projects with Kickstart partners.
  • Access to Kickstart partners’ senior executives.
  • Access to national & international investors.
  • 1:1 sessions with industry, business, and technology experts.
  • Mentorship from the entrepreneurial advisors.
  • Business development expenses support.
  • Weekly networking and community-building events.
  • Free local & national media exposure.
  • Free office space & infrastructure.

Fintech Innovation Lab

Founded in 2011, FinTech Innovation Lab offers a 12-week program that helps early- to growth-stage technology startups to refine and test their business models and value propositions with the support of the world’s major financial firms. They are now operating in 3 cities which are Hong Kong, London, and New York.

Highlights:

Equity: No equity is required to join the program. However, for those startups accepted into the program, Fintech Innovation Lab will take a small amount of warrant coverage.

Process: They run multiple programs once a year at different locations. In New York, the application is open from October to December; in the Asia Pacific, the application is open from June to July; as for London, the application is open from August to October.

Benefits:

  • Mentoring from leading firms and VCs.
  • Access to senior figures and user groups in the insurance sector.
  • Weekly workshops and panel discussions.
  • Free workspace.

Global Insurance Accelerator

The Global Insurance Accelerator is a mentor-driven business accelerator program founded in 2014. They claimed that they are not the typical accelerator, but serve as a strategic partner to support early-stage startups. Furthermore, their investors are insurance carriers and their mentors are primarily insurance executives.

Highlights:

Equity: Requested for no more than 5% of equity.

Process: They run equity-based accelerator programs once a year. Application is open from August to October.

Benefits:

  • Investment with founder-friendly terms and no board seat of no less than $50k equity-based investment for no more than 5% of the company.
  • Additional exposure at insurance industry conferences (like InsureTech Connect, OnRamp Insurance Conference, IASA, NAIC, DigIn, and more).
  • Exclusive final presentation day in front of 400+ insurance professionals
  • 20+ workshops led by topic experts.
  • Weekly 1:1 meetings with GIA’s top management and entrepreneurial leaders.
  • Curated meetings with insurance-focused mentors.
  • Membership in the GIA Alumni Program.
  • $50k+ value in accelerator perks including technology hosting, marketing tools, and more.

Startupbootcamp

Founded in 2010, Startupbootcamp is a global network of industry-focused startup accelerators that provides investment and mentorship services. They offer a few InsurTech accelerator programs in countries like Australia, Dubai, Egypt, Mexico, and the United States. Some of their exits in InsurTech are Covi Analytics and ClaimSync.

Highlights:

Equity: Requested for between 6–8% of equity, depending on the program.

Process: They run multiple programs a year in different cities. Applications are open for 3 months. Only 20 startups will get enrolled in the 3 months program.

Benefits:

  • Free workshops & masterclasses led by the topics experts.
  • Access to Satrtupbootcamp’s mentors, partners, & investors.
  • Exclusive demo day with an audience of over 1,000 investors, partners, media, mentors, and the local community.
  • €15K cash to cover living expenses during the program.
  • Free office space.
  • €500K+ in exclusive partner deals from leading technology providers such as Amazon, HubSpot, SendGrid, & others.
  • Access to Alumni Growth program which provides exclusive networking events, access to deals, and receives personal introductions.

Insurtech Gateway

Insurtech Gateway was founded in 2016 and claims to be the only FCA authorized independent incubator + fund. As such, they are able to streamline and accelerate the process of building InsurTech startups. They are now active in 2 countries, which are the United Kingdom and Australia.

Highlights:

Equity: No equity is required to join the program.

Process: There is no limit on the number of startups that can enroll in the program. The application is open all year round.

Benefits:

  • Appointed representatives of Insurtech Gateway to operate under FCA authorization.
  • Access to an established network of investors.
  • Free working space.
  • Mentorship from in-house and experts who hold leadership positions in the insurance sector.
  • £250k+ value of Gateway goodies in IT infrastructure, business services & insurance support.

InsurtechNY

Founded in 2019, Insurtech NY is a community-based accelerator that focuses on insurance innovation in New York. They run a 100% virtual InsurTech accelerator program for growth-focused InsurTech startups that are looking to partner with leading brokers and insurers.

Highlights:

Equity: No equity is required to join the program.

Process: They run the program once a year. Application is open from July to August. 30 startups will get selected to join the Selection Day and only 10 will enroll in the 6-week 100% virtual accelerator program.

Benefits:

  • Guaranteed meeting with the decision-makers of insurance carriers/ brokers for pilots.
  • Intensive feedback sessions with experienced mentors.
  • 100% virtual program.
  • Access to top investors who are interested in InsurTechs.
  • Access to talent from their dedicated InsurTech job fair.

Digital Health Innovation by InsurTech Hub Munich

Digital Health Innovation program is a collaboration between InsurTech Hub Munich and the dmac — Medical Valley Digital Health Application Center that supports startups getting access to the German healthcare market.

Highlights:

Equity: No equity is required to join the program.

Process: They run the program once a year. Up to 40 startups will be accepted for the program.

Benefits:

  • Access to the German healthcare and insurance ecosystems.
  • Access to industry knowledge and entrepreneurship frameworks.
  • Access to investors and funding & reimbursement strategies.
  • Validation of business model and support with legal and regulatory issues.
  • Mentoring from experts in medicine, technology, business, and insurance.
  • Virtual and in-person meetups, workshops, and conferences.
  • Free office space.
  • Membership in alumni networks of both ITHM dmac / Medical Valley.

OnRamp by gener8tor

The OnRamp Insurance Accelerator by gener8tor, in partnership with Securian Financial and Allianz Life, is a 3-month accelerator program in Minneapolis-St. Paul. According to the Seed Accelerator Rankings Project, gener8tor is a nationally ranked and gold-tier accelerator in the US.

Highlights:

Equity: No equity is required to join the program.

Process: They run the program once a year. They accept and invest in only 5 startups per program. The accelerator will be conducted mainly virtually with some in-person meetings.

Benefits:

  • $100,000 cash investment directly into your current round (if raising) or uncapped convertible note (if not currently raising).
  • $1M+ in deals and perks from vendors like IBM Cloud, Rackspace, Amazon, PayPal, Zendesk & Microsoft.
  • Access to a gener8tor’s network of investors.
  • Support from the gener8tor team and network of alumni and mentors.
  • Individualized coaching and mentorship from the experienced teams at Allianz Life and Securian Financial.
  • Exclusive demo at the annual OnRamp Insurance Conference.
  • Free office space.

Over to you …

There you have it, the top 10 InsurTech accelerators and incubators around the world. We hope the list is helpful for you to find the right InsurTech accelerator or incubator for your startup. Best of luck!

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