Microsoft partners with American Family Insurance to launch new startup accelerator
Microsoft has teamed with American Family Insurance to launch a new business accelerator aimed to supporting home automation startups. These startups focus on creating new technological advancements that can lead to safer and smarter homes. Such technology could have a major impact on homeowners insurance, especially in terms of cost. The Microsoft Ventures Accelerator, as it is called, may lead to some profound advances within the insurance industry and the housing market.
Microsoft Ventures Accelerator aims to support startups that are focused on home automation and technological advancement
The Microsoft Ventures Accelerator will utilize the resources of American Family Insurance in order to place promising startups in contact with experts within the insurance industry. These experts will help startups fashion technology that takes insurance issues into consideration. Home automation is beginning to see a great deal of activity as society becomes more technologically inclined. In the relatively near future, new technology may help protect homes from certain issues, such as fire and the damage caused by natural disasters.
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Amercian Family Insurance will provide financial support for ambitious startups with innovative ideas
American Family Insurance is offering a $25,000 equity investment in each startup that is being accepted into the Microsoft Ventures Accelerator initiative. These startups will also be paired with insurance experts based on their field of interest. Some startups may be focused on issues relating to climate change and natural disasters, in which case they would be partnered with experts that have been investigating climatic phenomenon and how it may impact the insurance industry.
The future of the homeowners insurance sector may be defined by new technology supported by Microsoft
As the technology becomes more integrated with the world, the insurance industry is likely to change. Technology can help insurance companies perform more efficiently and effectively while also making homes and those living in them safer. Exactly how home automation will impact the homeowners insurance sector in the future is difficult to say for certain. This is because technological advancement can be unpredictable, even for the experts at Microsoft.