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Holmes Murphy & Associates on Friday said it has partnered with several firms to launch BrokerTech Ventures to serve as an incubator for development of distribution technologies.
Waukee, Iowa-based Holmes Murphy and Madison, Wisconsin-based M3 Insurance Solutions Inc. are co-founders of the venture. Partners include PayneWest Insurance, Missoula, Montana; ABD Insurance & Financial Services, San Mateo, California; Conner Strong & Buckelew, Camden, New Jersey; and Assurance Agency Ltd., Chicago, Holmes Murphy said in a statement.
BrokerTech Ventures will provide funding, curriculum, mentoring and other support for tech startups in the distribution realm, according to the statement. It will begin accepting applications in October from companies that wish to participate in the program, with the program’s launch planned for February 2020.
“BrokerTech Ventures will alleviate some of these pain points by creating an ‘innovation hub’ for startups to test broker-centric ideas and products, while bringing new and innovative ideas and solutions to our customers,” Holmes Murphy Chairman and CEO Dan Keough said in the statement.
The American Association of Insurance Services on Tuesday said it has launched openIDL, or Open Insurance Data Link, a platform designed to facilitate compliance and data-sharing between insurers.