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Des Moines, Iowa-based BrokerTech Ventures, a broker-led investor group and accelerator program, is has added four new investor partners, including Assurance, Graham Company, InterWest Insurance Services, and Hylant Insurance.

These new investor partners join the current owners — Holmes Murphy, M3 Insurance, PayneWest Insurance, ABD Insurance & Financial Services, and Conner Strong & Buckelew. The nine privately held, like-minded agencies combined represent more than $1 billion in annual revenues.

“With the addition of these four agency partners, the BrokerTech Ventures network now spans the country, allowing us to be the first to stake our position in cultivating, curating, and fostering innovation for brokers,” Dan Keough, Holmes Murphy chairman and CEO and BrokerTech Ventures co-founder said in a media release. “These BrokerTech Ventures partners are agency leaders with a commitment to innovation and thought leadership, and we’re excited to have their cutting-edge ideas at the table.”

BrokerTech Ventures’ accelerator curriculum will include a veteran mentoring network, seed funding for a portion of the chosen startups’ research and testing, and a distribution platform to deploy the technologies. Additionally, the agency partners will play an integral role in the mentoring components of the accelerator and also gain access to early engagement with our selected startup entrepreneurs.

The window for startup companies to apply for a spot in the first BrokerTech Ventures cohort will open in late October of this year, with program launch planned for February 2020. A targeted, executive search is in progress for the organization’s first managing director.

Source: BrokerTech Ventures

Topics Mergers & Acquisitions InsurTech Agencies