Allianz, the €126 billion German insurance giant, and Securian Financial, the $5.1 billion financial services company, announced a partnership with the Wisconsin-based startup accelerator, gener8tor. This partnership will launch the OnRamp Insurance Accelerator in Minneapolis-St. Paul.
OnRamp will provide five startups per year with $100,000 cash investment, office space, and support from gener8tor’s network of mentors and investors. Gener8tor is a premier accelerator with programs in Madison and Milwaukee, Wisconsin. These programs, along with their efforts in Minnesota, have helped the organization achieve a gold ranking by the Seed Accelerator Ranking Project in 2018.
The OnRamp accelerator is an outgrowth of the Onramp Insurance Conference, and it marks a continued application of Allianz Life Ventures goals to increase the number, type, and technologies in their portfolio. Allianz Life Ventures has invested in numerous companies, including Core Innovation Capital, blooom, tomorrow, LifeYield, Gainfully, Vestwell, Ladder, and Covr.
Walter White, President and CEO of Allianz Life said, “We have a common vision of the potential of new technologies, and a commitment to finding new, innovative and efficient ways to serve our contract and policy holders both today and for years to come.”
Securian Financial is also a critical piece of this new program. Based in the Twin Cities, Securian has been a consistent champion of the Twin Cities community and is looking to increase its support for insurtech in the region.
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Chris Hilger, the Securian Chairman, President, and CEO stated, “We are very excited to bring some of the brightest minds in insurtech to the Twin Cities through this new collaboration. We are in the midst of a complete digital and technical transformation at Securian Financial, and our investment in the accelerator will give us further opportunities to collaborate and learn from entrepreneurs developing the next generation of technology that will reshape our industry.”
The Onramp Insurance Conference is set for April 11 in Minneapolis.
Applications to the Onramp Insurance Accelerator are now open at www.onrampinsuranceaccelerator.com/apply.
