Gangkhar joins NJ FAST Cohort 5 at Stevens Institute of Technology

Gangkhar has been selected for Cohort 5 of NJ FAST powered by Plug and Play, one of 13 startups chosen from more than 500 applicants for a three-month fintech and insurtech accelerator in Hoboken, New Jersey. The program gives the insurance startup direct access to carriers, investors and partners as it pushes its AI-native operating system for embedded protection into the North American market.

Why it matters: - Gangkhar gets access to insurers, financial institutions and investors in the US Northeast through a New Jersey accelerator built around financial services. - The selection supports Gangkhar’s push to bring Agentic Process Outsourcing to North American carriers, MGAs and brokers. - Insurance remains a labor-heavy business, and Gangkhar is pitching a model that can reduce operating costs while scaling service.

What happened: - Gangkhar was selected for Cohort 5 of NJ FAST powered by Plug and Play, the New Jersey Fintech Accelerator at Stevens Institute of Technology in Hoboken, New Jersey. - The company was one of 13 startups chosen from more than 500 applicants. - Federico Spagnoli, founder and CEO of Gangkhar, presented the company’s work during the program’s fifth Selection Day at Stevens Institute of Technology. - The cohort runs for three months and includes startups applying AI across insurance, banking, data and financial operations.

The details: - NJ FAST launched in 2024 as one of the New Jersey Economic Development Authority’s Strategic Innovation Centers. - The NJEDA has committed up to US$17.5 million to the initiative. - Plug and Play runs the accelerator, with Stevens Institute of Technology as founding academic partner and Prudential Financial as founding corporate partner. - Cohort 5 is supported by the NJEDA, Prudential Financial, MetLife, Stevens Institute of Technology, Sequel Advisors and Plug and Play. - NJ FAST selects two cohorts a year, aligned with the fall and spring semesters. - Each cohort works with mentors and industry experts and gets introduced to Plug and Play’s network of corporate, investor, government and university partners. - The program’s third cohort graduated in December 2025 and included 13 startups that had raised a combined US$80 million. - Gangkhar’s platform works with a carrier’s existing systems and does not replace policy administration or billing cores. - Sherpa+ configures insurance products, business rules, distribution logic, payment rails and settlement. - Sherpa+Mesh runs quoting, issuance, servicing, renewals and claims through a governed fleet of AI agents. - Gangkhar describes that approach as Agentic Process Outsourcing. - Each agent checks actions against live product rules, maintains a full audit trail and escalates work to humans when judgment is needed. - Sherpa+Lens keeps product parameters, pricing and sales motions under continuous optimization. - Gangkhar reports that its active programs have reached market up to 90% faster, cut operating costs by up to 50% and lifted conversion 30% or more versus the prior baseline. - The company reports US$85 million in secured gross written premium, more than 20 active programs and more than 10 capacity partners across four regions. - Sherpa+ has completed a SOC 2 Type II audit with an unqualified opinion and no testing exceptions. - Gangkhar says embedded protection is one of the capabilities supported by its platform. - Insurers, MGAs and brokers connected to the NJ FAST ecosystem can begin with an Operations Discovery session to map high-volume, high-touch workflows. - Interested firms can contact the Gangkhar team at paul.oudenhoven@gangkhar.com. - More information is available on Gangkhar's website. - More information about NJ FAST is available on the accelerator's website.

Between the lines: - The accelerator selection gives Gangkhar credibility in a crowded insurtech market where buyers are likely to want proof that AI can lower cost without disrupting core systems. - The company is positioning its platform as an overlay to existing insurance infrastructure, which can lower adoption friction for carriers. - The strong applicant pool suggests NJ FAST remains a competitive gateway for startups seeking distribution and partnerships in regulated financial services.

What's next: - Gangkhar will spend the next three months in NJ FAST building relationships and learning from program partners. - The company will use the cohort to deepen ties with Northeast insurers and financial institutions. - Insurers, MGAs and brokers interested in the platform can request an Operations Discovery session during the program.

The bottom line: - Gangkhar’s NJ FAST selection gives the startup a direct shot at U.S. insurance distribution and a stronger platform for selling AI-driven operations to carriers.