American Family Insurance has partnered with Microsoft to aid startups that are developing technologies for smarter and safer homes. Microsoft Ventures Accelerator will run a program at its offices in Redmond, Wash., between August and December to help the young companies bring new products and services related to home automation to market. As part of the arrangement, American Family will share industry data and insight with the entrepreneurs, and offer an optional minimum $25,000 equity investment to each participating company.
American Family started its own venture capital arm, American Family Ventures, in 2010. It has invested in about a dozen startups thus far and hopes to invest $50 million over the next four to five years in companies interested in technologies, concepts, and business models relevant to the insurance industry.
