LaunchKC-backed insurance tech accelerator takes flight
LaunchKC-backed accelerator opens application window
Innovation in insurance is the bottom line of the new bcp tech InsurTech Accelerator which opened its application window this past week.
Brush Creek Partners (BCP), the technology-centric insurance company located in the Crossroads Arts District, is seeking innovative tech companies to join its InsurTech Accelerator.
This week’s announcement marks the second bcp tech accelerator in two years. The accelerators are powered by LaunchKC, a joint initiative of the Downtown Council and the Economic Development Corporation of Kansas City, MO, and TechAssure, a global consortium of risk management specialists. LaunchKC, a leader in the KC tech ecosystem, began in 2014 as a grants competition for tech entrepreneurs and elevating to a tech accelerator platform in 2019 to work in partnership with industry verticals, including the InsurTech accelerator.
“When you have an insurtech product that is ready for market, we want to help accelerate your growth,” said Nathan Kurtz, bcp Chief Operating Officer. “The bcp tech accelerator is looking for innovative insurtech companies who can improve the client experience or increase the efficiency of the service team.”
The application window opened last week, and will continue until August 22nd.
The accelerator aims to select five agency-focused technology companies, and will provide access to potential clients, mentors and investors who can help them quickly grow and scale their companies.
“It is on the entire brokerage community to innovate and continue to improve the client experience. We believe the best way to raise money is to generate revenue. We will give our founders the opportunity to pitch their services to a wide variety of potential customers in addition to leading-edge content and industry expert connections,” said Steve Gardner, bcp tech managing director.
“We are looking for companies with a product that is live and ready for real-time feedback from commercial property and casualty insurance agencies.”
bcp tech selected six entrepreneurs out of a national field of 65 applicants to champion its first InsurTech Accelerator in July 2020.
“Despite the challenges of COVID, bcp tech attracted an incredible group of applicants (last year), all with broker-focused InsurTech solutions,” said Travis Holt, bcp CEO and co-founder. “We had an incredible group of founders and products, which made it difficult to make our decisions.”
“Kansas City has a long history and legacy of insurance, and there are great opportunities to support high-growth potential InsurTech companies looking for customer feedback and growth,” Kurtz said. “Our purpose is to challenge how the insurance industry works and exceed expectations.”
Like last year, Brush Creek turned to LaunchKC, a leader in KC’s tech accelerator space, to bring its experience to the fold. LaunchKC powered three Kansas City-based accelerators in 2019/20 in the financial, cleantech and health verticals. bcp tech is the first of four LaunchKC accelerators anticipated in 2021/22.
Applications for the InsurTech Accelerator opened this week, and will remain open through Sunday, Aug. 22. A judging panel will review the applications and narrow the field of candidates down to the five finalists that will enter the accelerator program on September 20th. The 60-day accelerator will culminate with a public Demo Day program on Nov. 11 in Downtown Kansas City.
“Kansas City is entrepreneurial at its core,” said Tommy Wilson, who oversees business attraction for the Downtown Council, and serves on a five-member management team for LaunchKC. “Without the public and private commitment we’ve seen over the years to programs like this, we wouldn’t be nearly as competitive as we are on a national scale.”