A partnership of LaunchKC and Kansas City-based BCP Tech has chosen four insurance technology startups to provide a boost through its 2021 accelerator program.
The companies — announced last week as the second cohort of the BCP Tech InsurTech Accelerator — will receive investment and business mentoring through the initiative, which began Sept. 20 and will run for 60 days. An initial cohort of six startups was chosen from 65 nationwide applicants in July 2020 to take part in a virtual accelerator.
BCP Tech is a division of Brush Creek Partners that specializes in technology risk management and insurance solutions for emerging tech companies. The accelerators are powered by LaunchKC, a joint initiative of the Downtown Council of Kansas City and the Economic Development Corp. of Kansas City, plus TechAssure, an association for insurance brokers specializing in technology-related risks based in Davidson, North Carolina.
"This year’s cohort all have unique insurtech solutions that help the independent broker improve the client experience," BCP Tech CEO Travis Holt said in a release. "And this year’s accelerator is unique because it focuses exclusively on products for the independent broker sales channel, so we’re excited to see what these groups bring to the table."
Here are the chosen cohort companies:
- Phoenix-based Insurmi runs Violet, an artificial intelligence chatbot designed to enhance insurance providers' customer experience by guiding users through online support, policy sales and frequently asked questions. CEO Sonny Patel founded the company.
- Toronto-based Jauntin' is a software platform that insurance companies can use to digitize products and embed them into third-party platforms and websites, with a focus on niche areas such as special events insurance, snow plow insurance and gig worker or freelancer products. Founder and CEO Rain Takahashi and President David Scott Robertson lead the company.
- Munich-based MotionsCloud is a mobile and AI claims adjustment solution that helps customers, loss adjusters and insurers reduce claims cycle times and processing costs. Founder and CEO LeX Tan leads the startup.
- Toronto-based Relay Platform is a software-as-a-service comparative-rating solution that helps insurance agents and brokers secure and compare quotes to more quickly create proposals for clients. CEO Greg Boutin and Anne Hasenstab, vice president of cyber and executive risk, lead the company.
"Headed into our second year partnering with BCP, the momentum is significant, and the potential impact these companies will have not only in the insurance space, but on the innovation community in Kansas City and beyond, is thrilling," interim EDC CEO T'Risa McCord said in the release.
LaunchKC was founded in 2014 as a grants competition for tech entrepreneurs but in the fall of 2020 announced its evolution into a tech accelerator platform in partnership with Keystone Labs. Its previous accelerator programs have included the Launch Health Accelerator, powered by Nueterra Capital, and the Black & Veatch IgniteX COVID-19 Response Accelerator.
