MLTPLY, an investment and accelerator platform, wants to help insurtech entrepreneurs bring their ideas to market. Fast.
The Dallas-based platform, which launched this week, was created to help seed-stage companies “cut through red tape”—and get to market up to 18 months sooner than they would on their own.
MLTPLY’s model includes venture funding and operational infrastructure, including insurance product delivery and support from fronting to reinsurance capacity. With what it calls an “innovative strategy,” the firm plans to launch a new offering every six months.
The firm looks to partner with startups that have the potential to transform the insurance and financial services industries.
MLTPLY sees “massive potential” in seed-level startups aimed at solving small business and consumer protection and insurance needs, particularly in property and casualty.
MLTPLY Founder and CEO Gloria Guntiñas, who also co-founded commercial insurance platform Pouch, says “there are plenty of $150 million opportunities out there that are blocked from funding.”
“They’re too small for big insurance companies to dedicate resources to.”
Guntiñas’ platform aims to free founders from “time-consuming core business functions so they can focus entirely on solving market-changing problems,” she said in a statement.
“Simultaneous delivery of coverage, experience, and technology innovation in insurance is prohibitively costly—it’s too highly regulated.”
MLTPLY says it has a special focus on startups “where tech and coverage are key areas of innovation,” like telematics, new data, new markets, complex markets, and non-admitted offerings that need technology scale.
Building on tried-and-true methods
MLTPLY wants promising startups to focus on solving the problems they’ve identified in the market.
“A good corporate accelerator eliminates distractions and enables the founders to focus time and resources on the problem they’re trying to solve.” Tom Libassi, co-founder and managing partner of ILS Capital Management, said in a statement.
“That’s exactly what MLTPLY brings to the insurtech market,”
The firm designed a supportive environment to foster that—and accelerate a fast, cost-effective delivery of insurtech products, the accelerator says.
Shared services and knowledge make the process easier for startups, according to MLTPLY. It also ensures costs are scalable and frees startups “from stressing over much-needed insurance compliance.”
Libassi, a key investor of MLTPLY, says the platform is flexible: even if a startup already has funding, MLTPLY can provide insurance and operational support.
“It doesn’t have to be all or nothing,” he said.
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