FOR IMMEDIATE RELEASE
Pearl River, NY and Des Moines, IA – February 3, 2016 – ACORD, the insurance industry’s global data standards and services association, is pleased to announce a new partnership with the Global Insurance Accelerator (GIA), a global business accelerator focused on developing and growing innovative insurance-centric startups. The partnership brings the first of this year’s ACORD Insurance Innovation Challenge (AIIC) semi-final events to the Global Insurance Symposium at the Iowa Events Center in Des Moines on April 26.
“The Global Insurance Accelerator is doing work that can be appreciated across the insurance industry,” said Bill Hartnett, head of innovation for ACORD and AIIC executive sponsor. “The AIIC was designed to bring new ideas to the table via an equal footing platform. A partnership with the GIA and co-locating one of our semi-final events at the Global Insurance Symposium benefits everyone interested in innovation in the insurance industry.”
"ACORD and the GIA share the goal of discovering and promoting entrepreneurial talent building solutions for the insurance industry,” said Brian Hemesath, managing director of the GIA and emcee of the Global Insurance Symposium. “The AIIC program is an excellent opportunity for early-stage companies to gain exposure to insurance companies and the broader insurance ecosystem. This partnership is a tremendous opportunity for us to leverage their efforts and vice versa.”
In 2015, the AIIC brought in more than 100 submissions which were narrowed to a semi-final field of 12 innovators who pitched live during the ACORD2015 event last November. This year, individuals and companies submitting for the AIIC Des Moines semi-final event will pitch in front of a panel of judges comprised of insurance company professionals, analysts, entrepreneurs and thought leaders, as well as attendees to the Global Insurance Symposium who will have complimentary access to the event. All AIIC qualifying pitches will have the opportunity to get feedback prior to the event, answer questions from the judges, and be graded on impact, ingenuity, applicability to the insurance industry, and quality of the presentation.
The submission process for the AIIC Des Moines semi-final event is open now through March 14 at www.acordchallenge.org, leading up the April 26 pitches which will take place just prior to the opening reception of the Global Insurance Symposium at the Iowa Events Center. Early-stage startups are encouraged to submit a well‐defined concept for a product or service that demonstrates the potential to disrupt or transform traditional approaches to all aspects of the insurance business and the industry at-large.
Winners of the AIIC Des Moines semi-final event will have the opportunity to join other semi-finalists to present to a panel of judges before a live audience at the ACORD2016 event, November 1-3 at the Boca Raton Resort & Club in Boca Raton, Florida. The winners, selected based on a ranking derived from a combination of responses from the live audience and the judging panel, will receive a prize package valued at $25,000.
Click here to watch an interview about the AIIC with ACORD CEO & President Greg Maciag and ACORD Head of Innovation Bill Hartnett.
Click here to follow the AIIC LinkedIn Showcase page.
For more information about ACORD, the ACORD Insurance Innovation Challenge, or the ACORD2016 event, call 845.620.1700, or visit www.acord.org, www.acordchallenge.org, or www.acord.org/acordevent, respectively.
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ACORD (Association for Cooperative Operations Research and Development) is a global, nonprofit organization serving the insurance and related industries. ACORD facilitates the development of open consensus data standards and standard forms, and works with its members and partner organizations to drive implementation of those standards. ACORD members worldwide include hundreds of insurance and reinsurance companies, agents and brokers, software providers, financial services organizations and industry associations. ACORD maintains offices in New York and London. For more information, visit the association website at www.acord.org.
About the Global Insurance Accelerator (GIA)
Created in 2014 as an initiative of the Greater Des Moines Partnership, the Global Insurance Accelerator is the world’s first startup accelerator focused on the global insurance industry. The mentor-driven program is backed by major carriers and brokerages and its mentors consist of current and former industry leaders and executives. For more information, visit www.globalinsuranceaccelerator.com.
About the Global Insurance Symposium
Established in 2014, the Global Insurance Symposium is the premier Symposium for insurance professionals and regulatory authorities to hear from the world’s most renowned insurance experts and to interact with fellow insurance industry colleagues from around the world. The Global Insurance Symposium is presented by the Iowa Insurance Institute, the Federation of Iowa Insurers, the Iowa Economic Development Authority, the Greater Des Moines Partnership and the Iowa Insurance Division. For more information, visit www.GlobalInsuranceSymposium.com.
About the Greater Des Moines Partnership (The Partnership)
The Greater Des Moines Partnership is the economic and community development organization serving Central Iowa for more than 125 years. Together with 21 Affiliate Chambers of Commerce and 5,700 business members, The Partnership drives economic growth and careers through innovation, strategic planning and global collaboration. We foster an environment where residents are empowered to live their passions and shape our community, making Greater Des Moines the best place in the world to build a business and life. For more information, visit www.DesMoinesMetro.com.