BrokerTech Ventures – a broker-led investor group and accelerator program – has added four new investor partners.
The new partners joining the investor group are Assurance, Graham Company, InterWest Insurance Services, and Hylant Insurance. Together with the other investors – Holmes Murphy, M3 Insurance, PayneWest Insurance, ABD Insurance & Financial Services, and Conner Strong & Buckelew – the nine privately-held agencies represent over $1 billion in yearly 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,” remarked BrokerTech Ventures co-founder and Holmes Murphy chairman and CEO Dan Keough.
Keough said in a statement that the four new partners are agency leaders who are committed to innovation and thought leadership; BrokerTech is excited to hear the four’s “cutting-edge ideas.”
“With these recent developments, we are celebrating the fact that we can move farther and faster down the innovation curve,” added BrokerTech Ventures co-founder and M3 Insurance president and CEO Mike Victorson.
BrokerTech Ventures’ accelerator program 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. The group’s agency partners play an important role in the mentoring portions of the program, and also gain access to early engagement with selected start-up entrepreneurs.
Applications for the first cohort of the BrokerTech Ventures program open later this month; the program itself is planned to launch in February, 2020. The group is also in the process of hiring its first managing director, a release said.