Global innovation platform and investment fund Plug and Play Tech Center is launching a new program dedicated to insurance.
Created in partnership with Munich Re (Founding Anchor Partner), Sompo Insurance, and USAA, Plug and Play Insurance aims to create a platform to connect corporations to innovative startup companies via a 12-week Silicon Valley based accelerator built around a network of industry leading reinsurers, insurance companies, brokers, and automakers.
This initiative follows Plug and Play’s platforms in Brand & Retail, Financial Technology & Security, Connected Health, Internet of Things, Media, Travel & Hospitality, and New Materials & Packaging.
Startups considered for acceptance will be innovating in areas including disruptive business models, user centricity and experience, product innovation, advanced analytics, and distribution.
The program will provide $25k to $500k to up to 30 InsurTech focused startups from around the world, weekly mentor sessions with industry thought leaders, and opportunities for potential pilot projects, culminating at the Plug and Play quarterly demo day, and will support corporations via themed workshops and face-to-face interaction to engage with those startups that may complement their respective suite of offerings or create new potential revenue streams.
Dedicated startups will additionally get access to resources of Munich Re.
The application will open at the launch event on May 26th.