Startupbootcamp launches first global insurance accelerator program

Startupbootcamp officially launch on Thursday 17th September

Global initiative has the backing of leading insurance industry players from multiple countries

Startupbootcamp, Europe’s leading accelerator, today announced the launch of the Startupbootcamp Insurance accelerator program. Based in London, the program invites global startups from across different areas within insurance, including retail insurance, corporate risk management, re-insurance, back-office efficiency and new risk models, to apply to take part in the three-month accelerator.

Startupbootcamp Insurance is inviting insurance industry seniors, investors, and startup community execs for the official launch. Lloyds Banking Group, Route66Ventures and ZugarZnap Group will lead a panel discussion on the importance of a broad startup ecosystem servicing the insurance industry and the impact of innovation for the insurance sector.

Innovation in the insurance sector remains under-serviced, but insurance executives are starting to think about transformation of the industry. A recent report conducted by Accenture found that 59% of insurance executives expect their competitors to make strategic acquisitions of digital insurance startups over the next three years, in order to better position themselves in a changing marketplace. The Startupbootcamp Insurance accelerator program will enable insurance executives to become more aware of the opportunities to work with entrepreneurs.

The program will also provide startups with the unique opportunity to work together with Startupbootcamp partners, influential players in the insurance industry, such as Allianz, Unipol Group, ERGO, Admiral and Momentum (of MMI Holdings), as well as leading financial services industry experts Lloyds Banking Group and Route 66 Ventures. Through this collaboration, startups can adjust their business model perfectly. The Insurance program will be led by Startupbootcamp Chairman Carsten Kølbek; Startupbootcamp Insurance co-founder Nektarios Liolios, and Startupbootcamp Insurance managing director Liz Lumley.

 Nektarios Liolios, co-founder of Startupbootcamp Insurance, said: “Startupbootcamp prides itself on the development of early stage companies, connecting them with the relevant communities in order to thrive, and the Insurance accelerator program is no different. The insurance industry is calling out for innovation and there are hundreds of startups out there waiting to be discovered, and we want to nurture that untapped talent! There is a clear and ever-growing need to harness startup innovation and join it up with the developed insurance sector. With the help of our partners, we can create the only industry-wide initiative that looks to develop the digital innovation set to transform the insurance industry.”

Startupbootcamp Insurance will provide funding, mentorship, office space and access to a network of industry partners, investors and venture capital firms for up to 10 selected global insurance startups. Based in London, each successful team will also receive €15,000 ‘beer and pizza’ money and office space for at least three months at Startupbootcamp’s London home, the Rainmaking Loft.

To kick off, startups from all over the world are invited to apply to present their ideas to the Startupbootcamp Insurance team at a series of Fast Track days between August and November 2015. These are being held globally in locations including London, Berlin, Zurich, Cape Town, Tel Aviv, New York, Singapore and Hong Kong. The 10 successful applicants will then enter a three month accelerator program beginning in January 2016.

Interested startups can apply for Startupbootcamp Insurance Accelerator Program here: http://www.startupbootcamp.org/accelerator/insurance-london.html

Applications will remain open until October 2015.