Canadian Underwriter

Toronto InsurTech startup joins Global Insurance Accelerator

January 10, 2018   by Staff

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Photo copyright: Karsten NegliaJAUNTIN’, a Toronto-based InsurTech startup, has joined the Global Insurance Accelerator (GIA), the world’s first accelerator focused on insurance innovation.

The GIA is a 100-day mentor-driven program that offers participants hands-on support from business mentors, exposure to insurance professionals and industry influencers, and potential investors.

Related: Most Canadians believe technology is the answer to texting and driving: Aviva

Each participating cohort receives $40,000 in funding in exchange for six percent equity in their business. Team members are offered subsidized housing throughout the program.

“The companies the GIA typically brings in to the program may be early stage, but the technologies they are working with and the applications they are developing for the industry get more interesting and mature each year,” Brian Hemesath, managing director of the GIA, said in a news release.

JAUNTIN’ allows insurers to distribute micro-insurance via smartphones for small business clients such as dog walkers and delivery services, in addition to travel insurance.

This year’s GIA event takes place in Des Moines, Iowa, and kicks off on Jan. 16.

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This story was originally published by Canadian Insurance Top Broker.