Travelers Offers Insurtech Innovation Prize Through Connecticut Innovations’ Global Venture Challenge
VentureClash seeks to recruit insurtech companies for Travelers’ $25,000 grant award
ROCKY HILL, Conn., June 17, 2019 – Connecticut Innovations (CI), Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for innovative growing companies, today announced that Travelers, the Hartford-based provider of property casualty insurance for auto, home and business, will offer an Innovation Prize to VentureClash competitors developing solutions and pursuing market opportunities in insurtech.
VentureClash is a $5 million global venture challenge for early-stage companies in digital health, financial technology, insurance technology and industry 4.0. Companies that apply to VentureClash will automatically be considered for the Innovation Prize.
“Travelers is committed to identifying promising companies in the insurtech space, and we’re thrilled to partner with them once again on the Innovation Prize initiative,” said Matt McCooe, CEO of Connecticut Innovations. “We continue to attract strong early-stage insurtechs to the competition, and we look forward to presenting these companies to Travelers through VentureClash.”
“Insurtechs are bringing fresh ideas to the industry and encouraging us to rethink various aspects of insurance,” said Beth Maerz, senior vice president of customer experience and innovation at Travelers. “We’re pleased to work with Connecticut Innovations and VentureClash to offer the Insurtech Innovation Prize. Together, we’re providing financial support that demonstrates our commitment to Connecticut and helps the winning startup bring its ideas to life.”
The extended deadline for first-round applications is Friday, June 21, 2019. The Travelers Insurtech Innovation Prize will be announced at the VentureClash semifinals pitch event, to be held on Wednesday, July 31, in Hartford, Connecticut.
Managed by Connecticut Innovations, VentureClash is Connecticut’s global venture challenge focused on early-stage companies. The challenge identifies high-potential companies in digital health, fintech, insurtech and industry that will receive investments from a $5 million investment award pool. Learn more at www.ventureclash.com.
About Connecticut Innovations
Connecticut Innovations (CI) is Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for innovative, growing companies. CI provides venture capital and strategic guidance for early-stage technology companies, and connections to its well-established network of partners and professionals. For more information, please visit www.ctinnovations.com.
The Travelers Companies, Inc. (NYSE: TRV), is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has approximately 30,000 employees and generated revenues of approximately $29 billion in 2017. For more information, visit www.travelers.com.
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