20 May IU Angel Network Invests in Detour Travel Protection, A Technology-Driven Solution Addressing Gaps in Traditional Travel Insurance
INDIANAPOLIS, Ind. – The IU Angel Network, an investment vehicle of IU Ventures, today announced an investment in Detour Travel Protection (Detour), a modern travel insurance technology provider that redefines travel protection with an adventure-first, user-centric approach.
Founded by Todd Hancock, an IU alumnus with 29 years of experience in the insurance industry, Detour launched in January 2021. The company offers travelers personalized coverage options, innovative risk assessment tools, and AI-powered support to ensure seamless and secure journeys.
“Travel insurance hasn’t kept pace with the way people travel today,” said Olivia Schmitt-Metz, senior analyst at IU Ventures. “Todd saw an opportunity to modernize a legacy system with Detour, creating a flexible, user-driven solution that puts travelers first. We’re proud to back companies like Detour that bring much-needed innovation to long-standing, outdated industries.”
Hancock arrived in Bloomington in the fall of 1990 as a 21-year-old freshman after serving as an air traffic controller in the United States Air Force. “I was motivated to have a ‘typical’ college experience,” Hancock explained. “I joined Delta Chi Fraternity, raced in Little 500 three times (and won in 1993), served as President of the IU Student Foundation Rider Council, and won a National Collegiate Cycling Championship as a member of the IU Cycling Team.”
Following his graduation from IU with a degree in political science–and after a brief professional cycling career–Hancock began working for a small insurance company in 1996, when travel insurance was still a relatively new concept. “The current travel insurance offerings are catered to the baby-boom generation, and not the ‘younger’ generations,” Hancock said. “This has created a gap in the market offering. Active, experience-based travel is increasing dramatically, and Detour was specifically designed to address the growing demand and generational dissatisfaction due to stale, traditional solutions currently available.”
The Detour team plans to use this round of funding to enhance their technology infrastructure and further personalize the customer experience. In addition, the funding will support their strategic marketing efforts, aimed at strengthening existing distribution channels and increasing brand awareness.
Hancock was excited about collaborating with the IU Angel Network and offering this opportunity to fellow Hoosiers. “There is something about the midwestern ethos that is unique, real, and valuable to me,” he said. “To understand it, you need to travel, live, and work in other cultures as I have. There is something to be said for being ‘Back Home Again in Indiana.’”
About IU Ventures
IU Ventures invests in and supports IU-affiliated early-stage companies. Its investment programs include the IU Philanthropic Venture Fund, IU Angel Network, Shoebox Fund and Innovate Indiana Fund. It further supports IU founders through the Executive in Residence Program and IU Founders and Funders Network. Student support is provided through a variety of engagements, including the new IU Venture Fellows Program. Each program takes unique approaches to accelerate and support the positive impacts that entrepreneurs affiliated with IU already achieve across the world. http://www.iuventures.com/
About Detour Travel Protection
Whether you are preparing for an adventure of a lifetime or leading a life of adventure, Detour Travel Protection safeguards your health and well-being, prepaid expenses, and gear and personal belongings should things wander off course. Detour is founded and operated by adventurers who live the lifestyle and understand the rewards and risks associated with experiential travel. Designed for U.S. residents traveling more than 100 miles from their homes, Detour’s versatile plans include enhanced benefits such as non-insurance and emergency travel assistance services. Detour’s coverage options range from basic protection for the casual traveler on a budget to extreme sports coverage for the hardcore adrenaline seeker.
Media Contact
Detour Travel Protection
Lisa Hancock
lisa@detourinsurance.com