Investing in International Connections

What inroads has BTV made into the international insurtech startup community? What has motivated this movement?

I would say that our international interests really started early on in BrokerTech Ventures. We are one of the co-founders of the Israeli insurtech accelerator alongside Kobi Bendelak, CEO of InsurTech Israel. That really started our foray into the international interests, and then from there through the network that’s been created. We also have a partnership with InsurTech Ireland and Gary Leyden, who is CEO, and an informal partnership with InsurTech LATAM and [cofounder] Hilario Itriago. It’s been a great journey for us to explore these insurtech movements taking place in each of these geographies and then through those networks, then building out and meeting others that have insurtech interests in various parts of the world.

Our partnership with an organization like The Council also lends itself to our international explorations because of some of that connectivity that’s already there, because we know other Council members who are international.

What opportunities do you see becoming available for both U.S.- and international-based insurtech startups through this network of connections you’re building?

I think what’s been interesting is certainly there are startups, especially in Europe and abroad, that have an interest in creating a value connection into the United States. That’s really the lens that BrokerTech Ventures has provided through our accelerator. We’ve seen a number of startups with an international interest that apply to be a part of our accelerator here in North America. But also startups that are U.S.-based see an applicability and have an interest in potentially getting deeper into the European markets. We had seen some of that come to play in the Global Accelerator Program recently that took place in Munich.

Do you think this kind of collaboration can help with industry challenges as well?

Absolutely. It’s really a part of what we talk about when we’re visiting with startups as well as with our brokers and insurance companies. What are challenges that our industry is facing, and what are the technologies or the solutions out there that can help address those pain points?

Besides partnerships, how does BTV aim to promote this kind of collaboration? What role will BTV play?

If you think about just our industry, several of our BTV partners are internationally based. Use Zurich as an example; Zurich has an innovation lab. We try and learn and lean in from what the partners that are in our BrokerTech Ventures ecosystem are doing and bring that into our learnings. There’s that piece of it, and then there’s also the piece of the connectivity that we’re making because of these events and activities that are bringing together international interests. How can we best share those learnings out to our network through events or personal connections we’re making with the founders of insurtech companies all over the world?

How important will this international alignment be for the future of insurtech startups?

If you think about where our industry is and how rapidly technology is changing, it’s also breaking down barriers. The fact that we are very open and accustomed to meeting and exchanging information virtually, I believe that will become even more important and [we will be] more accustomed to seeing more international connectivity and international relationships in our industry in the future.