Plug and Play Insurtech announced today that 17 startups will join Batch One of “Insurtech Europe powered by Plug and Play,” an innovation platform formally launched on November 14, 2017 by Plug and Play Insurtech and Insurtech Hub Munich.
“The Munich Platform brings new insurtech solutions and innovation to the heart of Europe. The aim is to foster economic development by facilitating meaningful and strategic interactions between world-class insurance companies and dynamic startups from the area and across our global network” said Ali Safari, Global Head of Plug and Play Insuretech.
"as our first full insuretech cohort in Europe we are excited to see the results at the end of the programme."
During the next three months, the startups will be introduced to Plug and Play’s corporate partners and have the chance to work with various business units to evaluate POCs, pilot projects, and investment opportunities. Plug and Play does not take equity as a prerequisite to join the program and there is no cost for the startups. Plug and Play invests separately from the activities of the program in line with its own investment thesis. The startups will remain part of the ecosystem even after graduation on January 23th, 2019, at the program’s EXPO.
The 17 companies that have officially joined the program represent a variety of insurance areas from end distribution to claims handling.