Cary, North Carolina – 101 Weston Labs, an InsurTech accelerator focused on innovations for independent insurance agents, has announced the companies that have been selected to participate in the inaugural cohort for their program.
The accelerator, which is a project of the Independent Insurance Agents of North Carolina (IIANC), recently completed its application process for technology companies focused on the independent agent distribution channel innovating in areas like AI, data analytics, process automation, cyber liability, quoting, and more. After a thorough evaluation process, eight InsurTech startups have been selected:
Cake – A digital marketplace where insurance agencies can buy and sell “slices” of insurance books of business.
Digipraise – A platform that uses proprietary technology to offer contactless jewelry value updates by professional appraisers.
Gaya.ai – A workflow automation tool – powered by Large Language Models – that reduces mundane and laborious data transfer across systems.
Quotamation – A tool created for insurance agents to streamline their quoting process by allowing their clients to get quotes from multiple carriers within minutes.
QuoteWell – A digital wholesaler built to help agents save time, access the wider market, and enjoy transparency during the marketing process.
ReFocus AI – A customer retention platform that uses machine learning to accurately identify policyholders who are likely to leave at the expiration date.
RiskAdvisor – A streamlined submission management platform providing agents with a more efficient quoting process.
TEKRiSQ – A tool that captures the data underwriters need to help streamline the cyber risk processes for insurance agents.
“We can’t wait to get started working with this group of companies to rapidly advance their development and growth,” said Aubie Knight, CEO of IIANC. “Our goal for 101 Weston Labs is to bring innovation to independent insurance agents, by providing a dynamic program and a vibrant community of supporters, and these companies in our inaugural cohort are poised to do just that.”
The group begins the program on June 12, 2023, with 101 Weston Labs working to advance the cohort companies’ efforts with access to funding, agent product testers, advisors, and consulting from program stakeholders. The process culminates on August 28, 2023, with an in-person and virtual Demo Day where participants will pitch their products to an audience of investors, corporates, agents, and other stakeholders.
“Kicking off the inaugural cohort with InsurTech firms of such high quality is extremely exciting,” said Pat Cline, Director of Accelerator Operations of 101 Weston Labs. “We’re looking forward to working collaboratively over the next three months, and beyond, to help rapidly advance the progress of our companies and enhance the independent agency channel.”
Independent Insurance Agents of North Carolina (IIANC) empowers its members to rise above the competition by offering them the tools and resources to succeed in today’s insurance industry. IIANC is proud to serve as the unrelenting advocate and strategic business partner for nearly 1,000 Trusted Choice® independent insurance agency members across the state. IIANC member agencies represent more than one insurance company, and as a result, can offer clients a wider choice of auto, home, business, life, and health coverages while providing valuable guidance and advocacy. For more information, visit www.iianc.com.
101 Weston Labs is an InsurTech accelerator founded by IIANC to help develop technology advancements for the independent insurance agency community nationwide. The accelerator supports a cohort of technology companies innovating in areas like AI and data science, advancing their efforts with access to funding, agent product testers, advisors, and consulting from program stakeholders.