Category: Corporate News

BrokerTech Ventures Announces 2024 Accelerator Cohort, Two Strategic Partnerships, and Its 4th Year of ITC Vegas Collaboration

Des Moines, IA – March 27, 2024 – BrokerTech Ventures (BTV), the industry’s first broker-led convening platform and accelerator program, has selected the following 10 insurtech startups to take part in its highly intentional accelerator curriculum.

BluePond.Ai, Basking Ridge, NJ
Centinel, Chicago, IL
Feathery, San Francisco, CA
Gabriel, Modiin, Israel
Gaya Technologies, San Francisco, CA
Handl Health, Culver City, CA
Lightship Neuroscience, San Diego, CA
Powerbroker AI, San Francisco, CA
Qumis, Chicago, IL
Tailwind, Mercer Island, WA

“In this, our fifth year of the BTV Accelerator, I am thrilled with the quality of innovation moving through our accelerator, as well as the diversity in founder, team makeup, and geographies represented,” said John Jackovin, executive director of the BTV Accelerator. “With these high-caliber, early, and growth-stage insurtech companies on our roster, we truly believe we will be able to help clients identify risk sooner to drive down costs faster.”

The accelerator cohort kicks off April 10 and 11, 2024, with BTV Mania held in Des Moines, Iowa. During the program, the startups will meet with all of BTV’s owners and partners to discuss partnerships designed to advance their offering and accelerate their progress. Additionally, they receive $50,000 in seed funding and gain immediate access to BTV’s multi-billion-dollar distribution platform to deploy the technologies.

On top of this news, BTV is pleased to announce the addition of its newest broker partner, Insurance Office of America, as well as a new community partner, Dowling Capital, to help further represent the company’s insurance industry ecosystem.

“We could not be more pleased to announce the addition of these new forward-leaning and innovative partners,” said Dan Keough, Holmes Murphy chairman and CEO and BTV co-founder. “We view these partner relationships as integral in terms of our overall strategy in building out BTV. We have intentionally and thoughtfully come together, representing multi-billions of dollars in collective distribution and industry depth of expertise, and we believe that BTV can be the convening platform to provide access into the unknowns, idea-sharing, investing, and distribution for the benefit of all.”

The addition of these newest partners brings the BTV industry portfolio to 23 of the most sizable, innovative, notable, and respected brokerage firms, insurance companies and wholesalers, and community partners with nationwide and international presence.

Lastly, BTV is announcing its 4th year of a strategic collaboration with ITC Vegas, the world’s largest insurance innovation (insurtech) conference and convening platform. BTV has been named as the Headline Sponsor of the ITC Brokers curated program as a part of the ITC Vegas 2024 concept. As in years prior, BTV will fuel and lead out the broker-centric content series the afternoon of Tuesday, October 15, at Mandalay Bay in Las Vegas, Nevada.

“The ITC Vegas platform brings together the greatest minds around insurtech trends, technologies, and applications,” said Keough. “Our desire to engage in and bring new and innovative ideas and content to this type of platform comes from BTV’s industry position as the convener of broker-centric innovation, ideation, and communication for the global insurance ecosystem. We represent the brokerage community and the voice of the client, and we believe there is significant value in the community the ITC Vegas team has been building since 2016.”

BTV and ITC Vegas partnered not only in 2020, as they collaborated around the Agency Connect Virtual Conference, which attracted 2,000+ brokers, agents, and broker tech attendees from across the globe, but also in 2021, 2022, and 2023 as BTV led out ITC Vegas’ BrokerTech Connect.

For more information on BTV, please visit www.brokertechventures.com.

About BrokerTech Ventures
Based in the insurance nucleus of Des Moines, Iowa, BrokerTech Ventures (BTV) is the first broker-led convening platform and accelerator program focused on delivering innovation to the insurance broker industry. Founded in 2019, BTV provides a venue for the best minds in insurance and technology to collaborate and bring to market leading-edge ideas and solutions. BTV 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. Learn more at www.brokertechventures.com, or follow us on Twitter (@BrokerTechVen), LinkedIn, or Facebook.

About Conner Strong & Buckelew
Conner Strong & Buckelew is among America’s largest insurance, risk management and employee benefits brokerage and consulting firms. The firm is an industry leader in providing high-risk businesses with comprehensive solutions to prevent losses, manage claims, and drive bottom line growth. Its employee benefits practice focuses on providing best-in-class benefits administration, health and wellness programs and strategic advisory services.

Founded in 1959 with offices in New York, New Jersey, Pennsylvania, Georgia, Massachusetts, Florida, and Delaware, Conner Strong & Buckelew has a team of 500+ professionals, serving clients throughout the United States and abroad. For more information, visit www.connerstrong.com or follow us on LinkedIn (@ConnerStrong&Buckelew), Twitter (@connerstrong), Facebook (@connerstrongbuckelew) and Instagram (@connerstrongbuckelew).

5 Conner Strong & Buckelew Consultants Recognized as Risk & Insurance® Power Broker® Winners

BrokerTech Ventures Accelerator Opens for 2024 Cohort Applications

Positions to take part in 5^th year of program up for grabs with more than $500,000 in seed funding at stake.

Des Moines, IA — November 14, 2023 – BrokerTech Ventures (BTV), the industry’s first broker-led convening platform and accelerator program, has opened the application window for its 2024 BrokerTech Ventures Accelerator program.

Since its founding, BTV has grown to include 12 of the most notable super-regional brokerage firms in the nation, 13 of the world’s most highly respected insurance carriers and wholesalers, and 48 insurtech startups from around the world. BTV has also been instrumental in helping build and fuel the Israeli and Latin American accelerator programs. The company is dedicated to fostering innovation in the insurance space by providing early-stage insurtech companies the support to develop tech solutions for the industry.

“BTV has experienced amazing results from the first four cohorts, with startups generating over 200 proofs of concept or pilots with our partner organizations and collectively raising over $250 million in funding since their participation in the accelerator. This is a true testament to BTV’s ability to attract investment and support entrepreneurs in the insurtech space,” said Dan Keough, Holmes Murphy Chairman and CEO and BrokerTech Ventures Co-Founder. “With the fifth cohort, I believe we can expect new insurtech solutions with greater influence and even more diversity of thought for the industry. I’m excited to see what the startups will bring to the table.”

The concept of the BTV Accelerator is to be an “innovation hub” and proof of concept environment for broker-centric products and technology solutions, ultimately bringing validated solutions to the industry. The ideal candidates for the Accelerator are early-stage insurtech startups.

“It’s hard to image this will be our fifth cohort, but I’m just as excited as I was in year one to see these startups dramatically change with the help of BTV,” said John Jackovin, BrokerTech Ventures Accelerator Executive Director. “This acceleration is directly attributed to all of our broker, carrier, and wholesaler partners looking for the latest technologies and products that will help them identify risks sooner, provide better service, and drive down costs.”

The deadline for BTV Accelerator submissions is December 18, 2023. The initial review will be in January, with the top 20 startups chosen to take part in the Selection Series in early March. The Selection Series will be a virtual event where BTV partners can dig deeper into the products, companies, and teams. Subsequently, the cohort will begin the five-week Accelerator program in April 2024. More than $500,000 in funding is at stake for the selected broker-centric, seed and early-stage startups, with each startup receiving $50,000.

“In addition to the BTV Accelerator application opening, the BTV delegation just returned from a week of dedicated insurtech events and networking alongside the InsureTech Connect (ITC) Conference in Las Vegas, Nevada,” said Susan Hatten, Holmes Murphy Chief Marketing Officer and BTV Chief Operating Officer. “In conjunction with ITC, BTV hosts a broker-led afternoon of curated content — BrokerTech Connect — followed by our signature event — BTV’s Happiest Hour. This is a great opportunity for the startups who take part in our BTV Accelerator to network with our 12 broker partners, 13 carriers/wholesaler partners, and their accelerator cohort colleagues (and the cohort members from years prior), as well as a host of additional insurance leaders, investors, and insurtech enthusiasts. We view this as not only instrumental for the startups who take part in our accelerator, but for the insurance industry as a whole.”

To submit an application for the 2024 Accelerator, go to www.brokertechventures.com.

Sterling Seacrest Pritchard Joins National Leader in Driving Collaborative Solutions in Employee Benefits Consulting

November 8, 2023 – C2 Solutions (C2), a national leader in driving collaboration with insurance carriers, vendors and its members, announced today it has added Sterling Seacrest Pritchard as a C2 Member Firm.

C2 is comprised of the nation’s top independent regional employee benefit firms, each bringing a unique blend of heritage, expertise, solutions, and talent. By bringing together firms like Sterling Seacrest Pritchard that present innovative client focused solutions, C2 firms are changing the face of employee benefits consulting by delivering greater quality and value to clients. As a collective benefits organization, C2 fosters direct, open collaboration with each of its member firms. C2 hosts cross-training opportunities, encourages peer-group sharing at the leadership level and throughout all levels of the organizations and offers open access to vital industry tools.

C2 member firms gain access to a suite of premium products that help them compete at an elite level. This variety of tools gives their clients confidence in the firms’ ability to navigate even the most complex employee benefits situations and encourages vital growth within their regions.

“C2 continues to be at the forefront of the employee benefits marketplace. We continue to grow and enhance all of our relationships including our member firms. With the addition of Sterling Seacrest Pritchard as one of our member firms, we once again elevate our level of sophistication and comprehensive solutions to serve our member firms clients and communities,” said Kristen Boyd, Executive Director of C2 Solutions.

“We are thrilled to join C2 and lock arms with such a prestigious group of firms. Our shared commitment to independence and collaboration will ensure that we can continue to deliver innovative solutions to the clients we serve,” said Garry Hill, Partner at Sterling Seacrest Pritchard.

C2 partners with carriers, Pharmacy Benefit Managers, Health & Wellness vendors and technology partners. This strategic collaboration allows access to exclusive products and services for member firm clients, as well as being a trusted distribution channel for our carriers. C2’s member firm clients, their employees, and their families can be confident they have the right solutions and become empowered to achieve like never before.

About Collaboration Centric Solutions (C2)
Stronger Together – C2‘s mission is to accelerate innovative client solutions through the collective strength and shared expertise of entrepreneurial C2 firms.

C2 is an equity-owned partnership founded by Conner Strong and Buckelew, Holmes Murphy & Associates, McGohan Brabender, M3 Insurance, Scott Insurance, Sterling Seacrest Pritchard and The Partners Group and is focused on collaborative solutions in the rapidly-evolving landscape of employee benefits. As a collective whose member firms maintain independent ownership, we represent a refreshing approach to the impersonal strategy of national consolidation.

About Sterling Seacrest Pritchard
Sterling Seacrest Pritchard works in partnership with their clients and their community to provide business insurance and employee benefits solutions, risk management services, and surety and bonding products customized to today’s dynamic marketplace.

Sterling Seacrest Pritchard works with businesses of all industries and sizes that want clarity about their risks, control over their insurance and benefits costs, and strategic guidance. Their team members’ wealth of knowledge spans a wide variety of industries with exceptional expertise and focus.

2023 Insurance & Risk Management Innovation Challenge

Our passion for innovation is truly driven by employees, and we’re committed to giving our teams the time, resources and skills they need to develop the next generation of risk and insurance tools.

At the heart of our commitment is our Innovation Challenge – a bi-annual ideas summit that gives employees at all levels an opportunity to produce big ideas that will reshape our business and our industry. Each team is empowered by the knowledge that their ideas can have real impact on our company and our clients.

This year, 28 employees across eight teams participated in the 2023 Insurance & Risk Management Innovation Challenge. Our judges were truly impressed by the level of talent displayed. The presentations focused on new products, services, and technology applications that are highly relevant to our business with the potential to drive growth.

Here is a recap of the ideas presented by the three winning teams and the impact they will have on our clients.

1^st Place: WORKWELL Rx
Team members: Jill Ambrose, RN, Jennifer Conicella, Melissa Csercsevits and Sean Rafferty

This team provided a solution that leverages buying power and relationships across our Property & Casualty and Employee Benefits departments. It incorporates an integrated approach across both programs, specifically with workers’ compensation coverage and pharmacy benefits at the forefront. This solution would provide our clients with more control over their pharmacy benefits, reduce inconsistencies in costs across coverages and geographies, and ultimately improve their bottom line.

2^nd Place: DeepDive – Risk Financing Made Easy
Team members: Michael Helfrich, Nicholas Nocero, Eamonn O’Toole, Tim Svoboda

This team collaborated with The Actuarial Advantage, our trusted actuarial consulting partners, to develop a sophisticated, yet easy-to-use analytical tool that will aid in strategic discussions on risk financing. Combining our industry expertise with automation and relevant data sources, the team was able to create this tool to assist our clients in better understanding loss scenarios, evaluating risk financing options and improving program design.

3^rd Place: Empowering Efficiency & Unifying Data
Team members: Gregory Fanelli, Tamara Malone, Maggie Mauer and Geoffrey Rendina

This team conducted an in-depth analysis of our core data systems and presented a strategic approach to enhance our data infrastructure. They identified opportunities across departments for improved data management under a unified structure to further bolster Conner Strong & Buckelew’s exceptional capabilities in servicing our clients.

Stay tuned for more updates!

BrokerTech Ventures Accelerator Program Demonstrates Success with Startups

Company sees collective valuation of startups approach $1 billion.

Des Moines, IA – October 17, 2023 – BrokerTech Ventures (BTV), a pioneering broker-centric accelerator program in the insurtech industry, is thrilled to announce remarkable results from its latest report showcasing the outstanding achievements of its accelerator startups.

Over the course of four cohorts and 3.5 years, BTV has consistently empowered and propelled emerging insurtech companies to new heights. The recently released data illustrates the notable progress made by BTV’s four accelerator cohorts and the significant impact they have had on the insurance technology sector.

Key highlights from the BTV accelerator program include:

Continued Success — 96 percent, or 46 out of the 48 startups that have participated in the BTV accelerator program, are still operating or have been successfully acquired, affirming the program’s role as a catalyst for sustainable growth within the insurtech industry.
Collective Valuation — The collective valuation of the four cohorts that have passed through the BTV program is now rapidly approaching the milestone of $1 billion. This reflects the incredible potential and market value these startups have achieved.
Funding Milestones — BTV-affiliated startups have collectively raised over $250 million in funding since their participation in the accelerator, a testament to the program’s ability to attract investment and support entrepreneurs in the insurtech space.
Exceptional Growth — On average, startups that have gone through the BTV accelerator program have witnessed their valuations double since their enrollment, showcasing the program’s effectiveness in fostering rapid growth and development within the insurtech sector.
Partner Collaboration — Over 200 proof of concepts (PoCs) or pilots have been initiated with BTV’s partner organizations, demonstrating the program’s successful collaboration with established insurance industry leaders. Additionally, nearly 1,000 external client engagements have been directly attributed to BTV, underscoring the profound impact the program has had on bringing innovative insurtech solutions to market.

“We are immensely proud of the achievements of our startups and of the continued growth of the insurtech sector as a whole,” said Dan Keough, Holmes Murphy Chairman and CEO and BTV Co-CEO. “These outstanding outcomes validate the effectiveness of our accelerator program and underscore the vital role that insurtech startups play in driving innovation within the insurance industry, while also working to identify risks sooner and drive down costs faster for our clients.”

“BTV’s commitment to fostering innovation and collaboration in the insurance technology space has solidified its reputation as a leading force in the insurtech ecosystem,” said Mike Victorson, M3 Insurance President and CEO and BTV Co-CEO. “We are proud of our efforts and can’t wait to see how the future continues to unfold.”

As BTV continues to make strides in the insurtech landscape, the program remains dedicated to fostering the next generation of insurtech leaders and driving continued success in the insurance technology sector.

“One of the reasons we signed on as BTV’s first carrier partner in 2020 was because of their approach to bringing together insurtechs, carriers, and brokers to address industry pain points,” said Bob Jenkins, Vice President of Enterprise Distribution at Travelers. “We continue to find value in this relationship as we uncover the power and potential of the innovative capabilities these startups bring to the insurance community.”

Applications for the 2024 BrokerTech Ventures accelerator cohort open on November 1, 2023.

BTV will also once again be front and center fueling the BrokerTech Connect portion of the InsureTech Connect conference in Las Vegas on October 31. To attend BrokerTech Connect, please register here.

Edward Cooney Recognized as a 2023 PropertyCasualty360 Insurance Luminaries Honoree

Conner Strong & Buckelew is pleased to announce Edward Cooney as a 2023 PropertyCasualty360 Insurance Luminaries Honoree in the category of Risk Management Innovation. Honorees in this category must be accomplished in finding fresh and inventive ways to address risks while fostering advanced thinking and driving the industry forward.

Edward Cooney, Partner
Senior Account Executive

Ed was instrumental in the creation of a proprietary cyber insurance program and a full cybersecurity suite for the Joint Insurance Funds (JIFs). The JIFs were facing skyrocketing cyber insurance premiums, limited coverage options and the threat of losing coverage altogether.

By implementing this program, the JIF members have largely avoided the cyber insurance policy cost increases seen throughout the country. It is the first and only of its kind for public entities.

This achievement reflects Conner Strong’s dedication to our clients and our ability to develop customized solutions to meet each client’s unique needs. Congratulations Ed!

Learn more about the Insurance Luminaries 2023 Risk Management Innovation honorees here.

Conner Strong & Buckelew Expands Long Standing Partnership with ParetoHealth to Launch CREO, an Employee Benefits Captive Platform

CAMDEN, NJ (June 5, 2023) – Conner Strong & Buckelew, a leading insurance brokerage and employee benefits consulting firm, today launched CREO, its new employee benefits captive solution. CREO is Powered by ParetoHealth, CSB’s longtime captive partner. CREO will help businesses gain better health coverage for their employees and better control over costs.

“Now more than ever, businesses are realizing the power of breaking free from the fully insured model and adopting innovative new solutions,” said Joe DiBella, Executive Partner, National Employee Benefits Practice Leader at Conner Strong & Buckelew. “Our partnership with ParetoHealth offers the dual advantages of reducing costs while capping risks over multiple years, providing members with the best of both worlds. We’re thrilled with the growth of our employee benefits captives business thus far, and launching CREO will help us extend these solutions to more clients in need of a better way to offer health benefits to their employees.”

In addition to the significant short- and long-term cost savings, CREO offers Conner Strong & Buckelew’s clients limited volatility from large claims and high-cost years, enhanced control of their spending through data transparency and access to larger data pools and risk management expertise.

“Innovative solutions like stop loss captives that disrupt the status quo are pushing the employee benefits industry forward,” said Colleen Davenport, Senior Partner, Captive Business and Creative Solutions Leader at Conner Strong & Buckelew. “ParetoHealth’s industry-leading benefits captive program with integrated cost management makes them the perfect partner for us, and we’re fortunate to work alongside another firm that shares our dedication to lowering overall healthcare costs for organizations across the U.S.”

Over the past several years, Conner Strong & Buckelew has grown its benefits captive client base to over 40 organizations. Between 2016 to 2021, Conner Strong & Buckelew’s clients enrolled in its stop loss captive saved $2.7 million per year on average versus being fully insured. Looking forward, this captive is expected to perform 33% below the fully insured market from 2021 to 2025, leading to millions of dollars in additional savings for the captive’s members.

“Conner Strong & Buckelew’s commitment to the captive space and its clients is truly commendable. We love being on the right side of the fight with partners like them.” said ParetoHealth CEO Andrew Cavenagh. “Our mission at ParetoHealth is to help small and midsized business self-insure with less risk and then decrease healthcare costs. We’re proud to partner with Conner Strong & Buckelew on CREO and look forward to bringing its benefits to more organizations to further advance the state of employee benefits.”

Founded in 1959 with offices in New York, New Jersey, Pennsylvania, Massachusetts, Delaware, Florida, and Georgia, Conner Strong & Buckelew has a team of more than 450 professionals, serving clients throughout the United States and abroad. For more information, visit www.connerstrong.com or follow us on LinkedIn (@ConnerStrong&Buckelew), Twitter (@connerstrong), Facebook (@connerstrongbuckelew) and Instagram (@connerstrongbuckelew).

Ranked #1 Healthiest Employer in Greater Philadelphia Among Companies with 150 to 499 Employees

Conner Strong & Buckelew, one of America’s largest and most respected insurance brokerage, employee benefits, and risk management consulting firms, has been named the #1 healthiest employer in Greater Philadelphia among companies with 150 to 499 employees by Healthiest Employers. This accolade honors the company’s continued commitment to fostering all facets of employee mental and physical health.

Conner Strong & Buckelew boasts an impressive annual physical and biometric screening program with over 90% participation among employees and their spouses/domestic partners under the medical plan. Through the BenePoint platform, employees can earn significant incentive credits to reduce medical and prescription contributions upon completion of the screening. This approach not only helps employees proactively manage their health but also aids in preventing and detecting health issues early. Furthermore, the company extends support to employees dealing with serious medical matters or impending surgeries through services like Guardian Nurses and Goldfinch Health.

Learn more about the 2023 Healthiest Employers of Greater Philadelphia winners here.

U.S. Insurance Awards Finalist

Conner Strong & Buckelew is pleased to announce we have been selected as a finalist in Business Insurance’s 2023 U.S. Insurance Awards for the category of Broker Team of the Year.

We are honored to be named a finalist. This significant achievement reflects our dedication to our clients and our commitment to providing innovative risk management solutions. The award highlights our subject matter expertise, as well as our ability to develop customized solutions to meet each clients’ unique needs.

This recognition is a testament to the hard work our entire organization does in service to our clients. We would like to acknowledge the team that was nominated for their innovative and contemporary work on employee benefit captive programs:

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Congratulations to the team for leveraging their knowledge and relationships in the industry to help our clients achieve their business objectives and reduce their overall cost of risk!

Learn more about the finalists for the 2023 U.S. Insurance Awards program here.