Nassau Re has launched Nassau Re/Imagine, an InsurTech incubator based in the company’s iconic Boat Building headquarters in Hartford, CT. Nassau Re/Imagine will support selected startups focused in the life insurance, annuity, and reinsurance industries and will provide complimentary office space and business development services.
“We are excited to launch our Nassau Re/Imagine initiative, as Nassau Re looks to be a leader in Hartford’s emerging InsurTech expansion plans. Our industry is changing dramatically, and Hartford’s community and business leaders have created great momentum to attract InsurTech entrepreneurs and lead that change,” said Phil Gass, Chief Executive Officer of Nassau Re.
“Through Nassau Re/Imagine, our goal is to help accelerate Hartford’s transformation as a center for InsurTech innovation by fostering new companies that will continue to attract a new generation of talent to the city and state. Further, Nassau Re will provide a free, convenient and supportive environment for founders to develop strong business relationships with Nassau Re and other carriers in the area,” Gass said.
Nassau Re developed the incubator program in cooperation with the City of Hartford and Connecticut Innovations.
“Nassau Re’s decision to launch an incubator is another major step forward in our mission to make Hartford a global destination for InsurTech innovation,” said Hartford Mayor Luke Bronin.
“Nassau Re/Imagine demonstrates that there’s tremendous interest in our Capital City from entrepreneurs who are at the cutting edge of the insurance industry. I want to thank Phil Gass and the entire team at Nassau Re for their commitment to Hartford and for being part of the growing innovation ecosystem we’re building here,” he added.
“Hartford continues to evolve into an InsurTech hub and premier insurance companies, like Nassau Re, are leading the charge by supporting startups in the ecosystem,” said Matt McCooe, CEO of Connecticut Innovations. “This incubator will help attract companies to Connecticut and forge stronger relationships between corporates and startups. This is an innovative and exciting new venture by Nassau Re’s executive team.”
Nassau Re will contribute up to 48,000 square feet over the next three years to support Nassau Re/Imagine. The workspace will have flexible, open space configurations to accommodate different sizes and types of businesses. In addition, the startups will receive legal, human resources, and business development support. The Boat Building is a modern architectural landmark listed on the National Register of Historic Place and has been recently modernized.
Nassau Re/Imagine has earned praise from local leaders.
“This is an incredible investment of talent, expertise and real estate by Nassau Re—their commitment to Hartford and the future of the insurance and financial services industry is incredible,” House Majority Leader Matt Ritter said. “Nassau Re/Imagine will spark innovation and continue Hartford’s renaissance.”
“I thank Nassau Re for facilitating Hartford’s ever-evolving InsurTech industry that will be the catalyst for new businesses and good paying jobs,” said Julio Concepcion, State Rep (4th District) and Executive Director of the Hartford Chamber of Commerce.
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