Established in 2016, Plug and Play InsurTech is one of Plug and Play’s largest industry-specific programs. This 12-week business development program is headquartered in Silicon Valley. The programme currently has over 50 corporate participants including Farmers Insurance, Munich Re, Nationwide, SOMPO Digital Lab, and Travelers, and has worked with hundreds of startups to date. Plug and Play InsurTech runs three separated tracks throughout the program: General InsurTech, Property & Casualty, and Life/Health/Group.
At the start of this year, INSTANDA was chosen by a global innovation platform Plug and Play for their InsurTech Programme. We were selected in Batch 2 recently presented at the Plug and Play’s Summer Summit to an audience of over a thousand people. Plug and Play InsurTech’s startup innovation platform introduced some of the hottest startups in the InsurTech space to the rest of its ecosystem of thousands of corporate partners, investment firms, and universities. Over the past year, the Plug and Play InsurTech team has grown to over 50 participants with a global presence in three continents.
The second batch was hand selected by the majority of corporate partners who have been with the program for over the past six months and widely varies from the previous batch, in both digital solutions and innovation. From their first batch, approximately 30% of the startups that participated in the program are engaged in proof of concept (POC) pilots with corporations, and from the second batch, 69% of their startups are in talks around POCs.
Earlier this week Plug and Play InsurTech kicked off Batch 3 with its top 150 list including focus areas such as Data Analytics, Chatbots, Cybersecurity, and Wearables. The list includes applicants from Asia, Europe and Africa. Plug and Play InsurTech’s Selection Day for Batch 3 will be located at Plug and Play’s headquarters on August 30-31st.
Source: Cision PR Newswire