GIA’s 2024 Hybrid Accelerator Program Applications Open

July 18, 2023  - Written By Dan Israel

Time flies when you’re having fun!

It's hard to believe that today we launched the application process for our 2024 100-day program.  So much has changed since I wrote a similar blog to this last year.  At that time, I was about six weeks into my new role leading the GIA and if the past year is any indication of what’s to come, I can’t wait to see what amazing things are in store from our next cohort!

Over the past year, our team has grown with new members (Jess Louis and Jim Lewis) and roles (Alumni Director), we’ve introduced new investors, partners, sponsors, mentors, and built out more complete programming and an unmatched ecosystem to support early-stage InsurTech companies.  I wrote last year about change and how it can be a good thing.  And now a year later, I can convincingly say that change can be a great thing and the best is still ahead!

With a new look and feel, it really does feel like we’re hitting on all cylinders and are ready for the next cohort.  What won’t change is the basis of what we do - create an ecosystem of support around visionary founders looking to drive change, innovation, and business in insurance!  For 2024, we’re planning the same hybrid-style program that we’ve run successfully for the last two years.  

Given this setup, you can expect the following for a travel schedule in 2024:

• You’ll start the program in Des Moines, IA, where you’ll meet your fellow cohort companies and mentors, in-person, for the first 3 weeks of the program. For those mentors who want to continue to meet you virtually, that is an option too.

• For February and March, you’ll return home - wherever in the world that may be- to continue the program. You’ll be matched with a group of mentors to support you in the next phase of the program, which you’ll be able to do fully virtually.

• Then, for the final weeks of the program, you’ll return to Des Moines for nearly 3 weeks of in-person pitch practices, mentor meetings, and social gatherings with the GIA network. You’ll end the program making your final presentation in front of a large insurance audience at the Global Insurance Symposium.  

The visual below gives you more detail on the phases of the program, approximate time over nearly 15 weeks, and which parts will take place in-person, in Des Moines, IA, and virtually.

So you may be asking, “Is the GIA right for me?”. The founders who have been through the first nine cohorts look like the following:

You’re typically an early-stage (pre-seed to seed) insurtech company with 1-2 founders (and sometimes a couple of interns or contractors working for you) looking to accelerate finding product-market fit for your innovative solutions to the US insurance industry’s most pressing problems. You come from anywhere in the world!  Sometimes you have insurance experience, a lot times you don’t, but you have done enough early validation to feel the urgency. The time is now to solve this problem for the industry and you are the team to do it.  

How does the GIA fit into your company’s future? 

Our program is designed to help you build a solid foundation to operate and grow from.  The GIA can help you gain access to an incredible network of mentors who are largely insurance professionals and executives from the insurance industry. Not only that, but you’ll immediately have the ears of 65 insurtech founders who have completed the GIA’s accelerator program during the first eight years. You’ll also receive $50,000 funding* from the GIA’s Fund backed by insurance company investors.  

* Funding. The GIA Fund, backed by insurance company investors, will make an equity-based investment of $50,000, converting to 5% of the company in the form of a post-money SAFE (Simple Agreement for Future Equity),  in each company that participates in the program. 

While I still can’t believe that a year has FLOWN by, I’m thrilled to welcome the next cohort of founders to the GIA family.  Now is the right time to drive change, innovation, and vision through insurance and I’m proud that I am able to lead this team and organization to help early stage InsurTech be at the forefront of that change!

If you have questions about the hybrid program, please schedule a 15-minute meeting with me over the coming weeks with this Calendly link.