BrokerTech Ventures Expands Carrier Network with Strategic Partnership with The Hartford

Rhea-AI Summary

BrokerTech Ventures (BTV) has announced a strategic partnership with The Hartford, expanding its carrier network. The Hartford, a leader in property and casualty, group benefits, and mutual funds, joins BTV's ecosystem to drive insurance innovation. Matt Scott, head of Commercial Lines Innovation at The Hartford, emphasized their commitment to developing transformative solutions.

BTV's network now includes 13 broker partners, 12 carrier and wholesaler partners, and a startup portfolio of nearly 60 companies with total investments of nearly $3M. The platform has achieved a 95% continued operating success rate among startups, with total valuations approaching $1.1 billion. BTV startups have collectively raised over $280M and executed nearly 1,000 proof-of-concepts.

Positive

• Partnership with major insurance leader The Hartford expands BTV's carrier network
• 95% continued operating success rate among startup companies
• Startup portfolio valuations reaching $1.1 billion with 2x average valuation increase post-acceleration
• Portfolio companies raised over $280M collectively
• Nearly 1,000 proof-of-concepts executed through the network

Negative

• None.

 New partnership aims to drive insurance innovation.

DES MOINES, Iowa, Feb. 18, 2025 /PRNewswire/ -- BrokerTech Ventures (BTV), the industry's first and largest broker-led convening platform for insurtech innovation, investment, and collaboration, is thrilled to announce its newest partnership with The Hartford – a recognized leader in property and casualty, group benefits, and mutual funds. 

"The Hartford brings an additional depth of expertise, resources, and market perspectives to our ecosystem," said Dan Keough, Co-Founder and Co-CEO of BrokerTech Ventures. "Their commitment to innovation and collaboration will allow BTV to continue to empower transformation within the insurance industry."

The Hartford's Leadership in Innovation Expands the Impact of Insurtech Solutions

The Hartford, a long-recognized leader in innovation, brings additional expertise to the BTV carrier network. The Hartford's deep expertise in underwriting, claims management, and risk mitigation strategies adds expertise to the already robust cadre of BTV carrier partners, strengthening the BTV platform as a connecting venue for startups, brokers and carriers.  

"We are thrilled to partner with BrokerTech Ventures. At The Hartford, searching for new ways to help our customers as they pursue their goals and ambitions has driven the innovation and ingenuity that define our more than 200-year history," said Matt Scott, head of Commercial Lines Innovation and Risk Services at The Hartford. "Through our partnership with BrokerTech ventures, we can collaborate with insurtech startups and industry leaders to continue to develop transformative solutions that help businesses navigate risk and drive sustainable growth. We are excited to bring our expertise in risk management and commercial insurance to this dynamic ecosystem to help shape the future of insurance."

BTV's Partner and Startup Network
With the addition of The Hartford to the BTV partner network, BTV now encompasses 13 leading broker partners, 12 carrier and wholesaler partners, and a startup portfolio nearing 60 companies with a total investment of nearly $3M. In addition, BTV has made significant investments through the BrokerTech Fund, the first investment fund focused on advancing broker-centric technologies.

As a leading driver of insurance innovation, BTV has achieved a 95% continued operating success rate among its startup companies, with total valuations nearing $1.1 billion and an average valuation increase of 2x following participation in the BTV Accelerator. Additionally, BTV startups have collectively raised over $280M and executed nearly 1,000 proof-of-concepts, demonstrating the scale and influence of the BTV network.

The inclusion of The Hartford further strengthens BTV's ability to accelerate innovation by expanding resources and partnership opportunities for startups, brokers, and carriers, enabling BTV to bring insurtech solutions to market more quickly.

About BrokerTech Ventures
Based in the insurance nucleus of Des Moines, Iowa, BrokerTech Ventures is the first and largest broker-led insurtech ecosystem in the world, convening broker-centric innovation, ideation, investment, and communication to propel the industry forward. Learn more at www.brokertechventures.com, or follow us on X (@BrokerTechVen), LinkedIn, or Facebook.

About The Hartford
The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com.

The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford's legal notice.

Contact: Emily Schultz, emily@brokertechventures.com

View original content:https://www.prnewswire.com/news-releases/brokertech-ventures-expands-carrier-network-with-strategic-partnership-with-the-hartford-302379184.html

SOURCE BrokerTech Ventures

FAQ

What is the total investment amount in BrokerTech Ventures' startup portfolio?

BrokerTech Ventures has invested nearly $3M across its startup portfolio of approximately 60 companies.

How many proof-of-concepts have BTV startups executed?

BTV startups have executed nearly 1,000 proof-of-concepts through the network.

What is the success rate of startups in BTV's portfolio?

BTV has achieved a 95% continued operating success rate among its startup companies.

How much funding have BTV portfolio companies raised collectively?

BTV portfolio companies have collectively raised over $280M.

What is the total valuation of BTV's startup portfolio?

The total valuations of BTV's startup portfolio is approaching $1.1 billion.

How many partners does BrokerTech Ventures currently have?

BTV currently has 13 broker partners and 12 carrier and wholesaler partners.