Allianz Life Ventures and Securian Financial has teamed up with start-up accelerator gener8tor to launch the Allianz insurance accelerator OnRamp.

The accelerator programme will accept five start-ups annually for a period of three months.

Each chosen start-up will get $100,000 in cash along with office space. Besides, the selected start-up will also be able to avail gener8tor’s network of investors and mentors.

Securian Financial chairman, president and CEO Chris Hilger said: “We are in the midst of a complete digital and technical transformation at Securian Financial, and our investment in the accelerator will give us further opportunities to collaborate with and learn from entrepreneurs developing the next generation of technology that will reshape our industry.

“We also feel that this is a great economic development opportunity for the Twin Cities, as startups from all over the country will get to see first-hand why the Twin Cities is such a wonderful place to live and build a business.”

As part of the partnership, gener8tor’s OnRamp Insurance Conference will be held in Minneapolis-St. Paul in April next year.

The conference connects corporations, investors and start-ups in the insurance sector.

gener8tor co-founder Troy Vosseller said: “The OnRamp Insurance Conference will bring thousands of insurance executives, investors and startups to the Twin Cities. To build off of those relationships, we are thrilled to team up with two of the best carriers in the business to invest in the best insurtech startups via the OnRamp Insurance Accelerator.”