Insurance Technology Featured Article

Microsoft, American Family Insurance Team Introduce Startup Accelerator

June 23, 2014

Microsoft Corp. has recently formed new partnership with WI-based American Family Insurance, to introduce new startup accelerator that will be accommodated at its headquarters outside Seattle, with focus on companies innovating in home automation.

The new Microsoft (News - Alert) Ventures Accelerator will run September through December at Microsoft’s Redmond, Wash, campus. This program will primarily connect startups with experts in the industry.

In addition to this, the young companies can make use of the accelerator to know more about mentorship, workspace and way to place itself along with other world-class companies in the global marketplace.

American Family Insurance, one of the largest homeowners' insurers in the U.S., will offer deep industry experience, significant consumer insights and a wealth of homeowner knowledge to startup companies. Also, American Family Insurance is offering a minimum optional $25,000 equity investment in each startup introduced into the program.

"Home automation is ripe for startup innovation," said Steve Guggenheimer (News - Alert), corporate vice president, Developer Experience and Evangelism for Microsoft.

Guggenheimer said that they are working closely with American Family Insurance to provide a one-of-a-kind experience for entrepreneurs in their accelerator and startups accepted into the program will gain critical industry insight to build companies with the potential to have an enormous impact on their lives.

Microsoft’s venture capital arm currently runs startup accelerators in Bangalore, Beijing, Berlin, London, Paris, and Tel Aviv. Microsoft has also partnered with Techstars to run an accelerator in Seattle focused on Kinect and Windows Azure.

According to the sources, Microsoft and American Family began talking last October about teaming up on an accelerator, and they had a mutual interest in the connectivity theme.

Dan Reed, managing director at American Family Ventures said that working closely with startups and making early-stage investments in emerging technology companies is a great way to support the ecosystem and also benefit their customers.

“We look forward to working with the next generation of companies that are reimagining the connected home," Reed added.




Edited by Maurice Nagle

Article comments powered by Disqus

Related Insurance Technology Articles

Certifi to Deliver Improved Billing and Payment Management Through SaaS William Platform

Inefficiencies in medical billing costs the U.S. healthcare industry billions of dollars annually, and as another government program, the Affordable Care Act (ACA) or Obamacare, gets integrated into the system that number is surely to rise. A study conducted by Harris Poll on behalf of NerdWallet in August of this year revealed hospital billing errors are resulting in overcharges of up to 26 percent. The number of errors for Medicare medical billing was all the way up to 49 percent, meaning almo… [ Read More ]
11/24/2014

Nominating Committee for 2015 Novarica Research Council Impact Awards Announced

For those on the technology implementation and management side of the insurance industry the research and advisory firm Novarica is no doubt a very familiar one. The company provides information, insights, and perspectives to industry professionals on a variety of topics and hosts the Novarica Insurance Technology Research Council, a moderated knowledge-sharing community of more than 325 senior IT executives representing more than 300 North American insurers. [ Read More ]
11/19/2014

Kofax to Improve Claims Processing for General Insurance and Asset Management Provider

Improving the business processes associated with mission critical insurance interactions is at the top of most insurers' lists regardless of where they are located around the world. An example of the universality of the need to improve such processes through software automation, which not only improves business process efficiency but also reduces costs while improving the customer experience, is a recent announcement from business process automation specialists Irvine, CA-based Kofax. [ Read More ]
11/19/2014

MedeAnalytics Announces Partnership with Wellmark

MedeAnalytics Employer Reporting software provides healthcare providers with cost-analysis and reporting tools they can use to improve plans and better serve customers. MedeAnalytics recently announced that it will be working with Wellmark Blue Cross and Blue Shield to enhance services for insurance recipients in Iowa and South Dakota. [ Read More ]
11/18/2014
FREE Insurance Technology enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!