Allianz Life Ventures, part of Allianz Life Insurance Company of North America, has partnered with Securian Financial and start-up accelerator gener8tor to form the OnRamp Insurance Accelerator program, which will invest in new tech start-ups in the re/insurance industry.
Based in Minneapolis, the initiative will provide a cash investment of $100,000, office space and access to gener8tor’s global network of mentors and investors as part of a three-month accelerator program for five start-ups each year.
“We are pleased to partner with gener8tor to support the insurance tech startups that are developing the tools and technology for tomorrow’s insurance industry,” said Walter White, President and Chief Executive Officer (CEO) of Allianz Life.
“We have a common vision of the potential of new technologies, and a commitment to finding new, innovative and efficient ways to serve our contract and policyholders both today and for years to come,” he continued.
Chris Hilger, Chairman, President and CEO of Securian Financial, also commented: “We are very excited to bring some of the brightest minds in insurtech to the Twin Cities through this new collaboration. We are in the midst of a complete digital and technical transformation at Securian Financial, and our investment in the accelerator will give us further opportunities to collaborate with and learn from entrepreneurs developing the next generation of technology that will reshape our industry.
“We also feel that this is a great economic development opportunity for the Twin Cities, as startups from all over the country will get to see first-hand why the Twin Cities is such a wonderful place to live and build a business.”
“We are thrilled to team up with two of the best carriers in the business to invest in the best insurtech startups via the OnRamp Insurance Accelerator,” added Troy Vosseller, co-Founder of gener8tor.