Photo by Richard Hurd
Broker-Led Investor Group Launches BrokerTech Ventures
Contact: Kacie Conroy, Director of Information Technology, M3 Insurance
kacie.conroy@m3ins.com, 608-288-2795
M3 Insurance, along with Holmes Murphy, PayneWest Insurance, ABD Insurance & Financial Services, and Conner Strong & Buckelew, are pleased to announce the launch of BrokerTech Ventures, the first program specifically for investors and innovators building the next generation of tech solutions for insurance agencies and brokerages.
BrokerTech Ventures will deploy a highly intentional accelerator curriculum, as well as a veteran mentoring network, seed funding for a portion of the chosen startups’ research and testing, and a distribution platform to deploy the technologies. Startup companies can apply for a spot in the first BrokerTech Ventures cohort starting in late October 2019, with program launch planned for February 2020.
“The idea behind the alignment of BrokerTech Ventures as both an accelerator and an investment vehicle is that we have an opportunity to shape a product or solution alongside the startup,” said Mike Victorson, president and CEO of M3 Insurance and co-founder of BrokerTech Ventures alongside Holmes Murphy. “We intend on being active participants in the insurance technology space and offering a testing ground to benefit our clients.”
Dan Keough, chairman and CEO of Holmes Murphy added, “BrokerTech Ventures will alleviate some technology-related pain points by creating an ‘innovation hub’ for startups to test broker-centric ideas and products while bringing new and innovative ideas and solutions to our customers.”
In further building the resources available through BrokerTech Ventures, the owner agencies plan to partner with additional privately held, like-minded, and geographically-diverse insurance agencies and brokerages. A targeted, executive search is in progress for the organization’s first managing director, and Brian Hemesath, former managing director of the Global Insurance Accelerator (GIA) and a noted InsurTech leader, will provide guidance and counseling on the initiative as the architecture and curriculum for BrokerTech Ventures are built.
About M3
M3 is the largest insurance broker and risk management firm in the state of Wisconsin. As a top 50 broker in America, we’re leaders in the products we represent and the industries we serve. M3’s people are an extension of your team, providing world-class resources to help you manage risk, purchase insurance, and provide employee benefits. And our focus on community builds better places to live and work. For more information on M3, visit www.m3ins.com.
About BrokerTech Ventures
Based in the insurance nucleus of Des Moines, Iowa, BrokerTech Ventures is the first broker-led investor group and accelerator program focused on delivering innovation to the insurance agent-broker industry. Founded in 2019, BrokerTech Ventures provides a venue for the best minds in insurance and technology to collaborate and bring to market leading-edge ideas and solutions. BrokerTech Ventures invests in the research and testing for each of the chosen startups, provides access to veteran industry mentors, and helps scale the technology to market through broker distribution channels.