Plug and Play Seeks Startups Improving the Insurance Industry

SUNNYVALE, Calif., Dec. 19, 2016 /PRNewswire/ -- Plug and Play Insurance, the world's largest Insurtech Platform, is opening applications to startups from different growth stages for its business development program, giving them the chance to secure a spot in the second cohort. Since its launch in May, Plug and Play Insurance has partnered with over 30 of the largest insurance corporations, including Admiral Group, Aon, American National, Aviva, Farmers, Markel, Munich Re, Nissay, Pronto Insurance, SOMPO Digital Lab, State Farm, Sun Life Financial, Talanx, The Hartford, Thrivent Financial, Torchmark, Travelers, USAA, and Westfield Insurance.

"Being a part of the Plug and Play Insurance Innovation Platform gave us a tremendous amount of exposure to insurance carriers and VCs across the world," says Tim Attia, CEO and Co-Founder of Slice Labs. "Through the program, we were able to develop many strong relationships and partnerships, which will be crucial as we grow and expand." 

Startups accepted into the 12-week program will get access to a number of insurance companies, including all of the program's partners for potential pilots and investments. They will also receive office space at Plug and Play's Silicon Valley headquarters, expert mentor curricula, expedited business development, exposure to corporate partners from other Plug and Play's programs, and a chance to pitch in front of Silicon Valley's biggest investors at the Insurance EXPO.

With the conclusion of the first insurance batch, Plug and Play has begun actively sourcing for the next tier of high quality startups. The first cohort of companies covered an expansive market from new risk and underwriting techniques to drone-based image processing ranging from early stage to growth companies. These startups have had the opportunity to meet with some of the largest carriers, brokers, and investors in the world who are actively seeking partnership and investment opportunities with startups.

"With the high interest that we have received from industry leaders and their eagerness to innovate, we plan to not only replicate the success of the first cohort, but to improve on our service offerings. We will continue to facilitate the growth for the entrepreneurs that are targeting to innovate the industry even more," says Ali Safavi, Director of Plug and Play Insurance.

With over 500 portfolio companies and more than 130 corporate partners, Plug and Play is a leader in startup success. Plug and Play has created focused innovation platforms in the areas of Brand & Retail, Health & Wellness, FinTech & Security, Internet of Things, Mobility, Media & Mobile, New Materials & Packaging, and Travel & Hospitality. With the launch of the Insurtech Platform earlier this year, the program aims to bring together everyone who can add value to the startup ecosystem and facilitate innovation in the industry.

Startups of all stages are encouraged to apply: http://bit.ly/startup-apply

Media Contact:
Allison RomeroPhone: 408-524-1457
Email: [email protected]

About Plug and Play Tech Center 
Plug and Play Tech Center is a global innovation platform. We connect startups to corporations and invest in over 100 companies every year.  Since inception in 2006, our programs have expanded worldwide to include a presence in 10 countries and 20 cities providing necessary resources to succeed in Silicon Valley.  With over 6,000 startups and 130 official corporate partners in our network, we have created the ultimate startup ecosystem in many industries. Plug and Play provides active investments with 180 leading Silicon Valley VCs, and more than 365 networking events per year. Companies in our community have raised over $3.5 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit: http://www.plugandplaytechcenter.com

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SOURCE Plug and Play Tech Center