The Des Moines, Iowa-based Global Insurance Accelerator (GIA) announced that SFM Mutual Insurance Company (SFM), a workers’ compensation specialty provider headquartered in Bloomington, Minnesota, will join the GIA board of directors as part of support for the company’s recent annual investment.
Founded in 1983, SFM provides workers’ compensation insurance in the U.S. Midwest.
The GIA’s immersive program includes in-depth industry mentorship and business coaching, as well as exposure to insurer operations, focused line of business (LOB) insight, and access to potential additional investors. Each April, cohort companies graduate by pitching onstage in front of Global Insurance Symposium attendees.
The GIA has steadily added new investors throughout 2016 and 2017, and recently completed the most globally-diverse cohort to-date. SFM joins the GIA’s existing investor group in offering program mentors, and looking forward to the annual InsurTech Week in Des Moines which will take place October 23-27, introducing an additional 15 InsurTech startups to the GIA network.
As a part of the GIA, insurer investors are often exposed to the newest industry-specific technology trends ahead of formal product launches, and, are therefore better positioned against modern competitors operating in the same markets. While the startups included in each of the GIA’s annual cohorts are typically early-stage, those participating in InsurTech Week vary widely in stages of business and product development.
SFM provides workers’ compensation insurance coverage and services in Minnesota, Wisconsin, Iowa, Nebraska and South Dakota.