Fire Accelerator
The FIRE Accelerator Program, now in its 8th year, is this year focused on fostering innovation in the U.S. insurance sector. Five startups will undergo a rigorous 10-week curriculum, working closely with mentors from Erie Insurance, ValueMomentum, and industry experts. The program offers support through capital investment, mentorship, networking opportunities, and exposure to potential customers and partners.
What Can I Expect as a Participant?
Capital Investment
Each selected company will receive $50k in the form of a $25k investment from both Erie Insurance and ValueMomentum
Tailored Curriculum
Workshops and lectures provided by subject matter experts to address gaps and high-value topics
Strategic Networking
Access to potential Partners, Customers, Investors, suppliers, and more
Mentorship
Access to expert mentors from within Erie Insurance and ValueMomentum, program staff mentorship, alumni company mentorship
Exposure
Presence at Erie Homecoming Conference, Media opportunities, Program culminates in a public demo day
Program Results
Program Success
Program graduates have continued to see success, raising an additional $500M of follow-on funding, and growing revenues to over $60M annually. Through their engaged participation in the FIRE Accelerator alumni have secured customer engagements and investment with local industry including Fortune 500, education institutions, top manufacturers, and investment organizations. Beyond the region, our portfolio of startups have participated in notable programs including YCombinator, TechStars, Plug and Play, 500 Startups, and Mass Challenge.
2024 Cohort: Insurance Technology
The FIRE Accelerator is seeking applications that contribute to the forefront of the US insurance industry and its emerging technology trends. Specifically, technologies that:
Promote insurance value chain optimization—product, underwriting, billing, claims, distribution, etc.
Improve data analytics and insights
Increase Operation Efficiency - Task Automation, Process Digitization, etc.
Enhance the Customer-Agent - Insurance Provider Relationship
Enable Talent Optimization
Industry Support
The FIRE Accelerator is corporately sponsored by Erie Insurance and ValueMomentum, both organizations are committed to engaging with selected cohort companies through mentor teams, instructors, and exploring potential partnership opportunities.
The Erie Regional Chamber and Growth Partnership is a member organization made up of over 600 organizations. These companies are ready and willing to be actively engaged with cohort companies, providing real-world product and service feedback, input, connections, mentorship, and potential partnership over the course of the program.
Meet The Alumni
Program Summary
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Funding: Companies receive $50,000 to $100,000 in KISS (debt) per company
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Format: Hybrid sessions (virtual and in-person)
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Location: Erie, Pennsylvania
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Cost: $0
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Company Stage: Seed through Series A with prototype through paying users
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Cohort Size: up to 10 companies
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Focus: Data Analytics and Intelligence
About Erie Insurance
According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 12th largest homeowners insurer, 13th largest automobile insurer and 13th largest commercial lines insurer in the United States based on direct premiums written. Founded in 1925, Erie Insurance is a Fortune 500 company and the 17th largest property/casualty insurer in the United States based on total lines net premium written. Rated A+ (Superior) by A.M. Best, ERIE has nearly 7 million policies in force and operates in 12 states and the District of Columbia. News releases and more information are available on ERIE’s website at www.erieinsurance.com.
About ValueMomentum
ValueMomentum is a leading solutions provider for the global property & casualty insurance industry, supported by deep domain and technology capabilities. We help insurers stay ahead with sustained growth and high performance for enhancing stakeholder value and fostering resilient societies. ValueMomentum accomplishes this by applying a time-tested formula of combining strong technology expertise with deep industry experience. Trusted by over 100 insurers, ValueMomentum is one of the largest standalone insurance-focused services providers to the US insurance industry.
