SUNNYVALE, Calif., March 20, 2019 /PRNewswire/ -- FM Global, one of the world's largest commercial property insurers whose clients include more than one-third of Fortune 1000 companies, has announced its partnership with Plug and Play, a global innovation platform. Startups accepted into Plug and Play's platform will have the opportunity to pilot their technology with FM Global and the other partners in the program.
"Innovation has been the bedrock of FM Global for nearly two centuries and has helped us pioneer the practice of property loss prevention, mostly through self-directed research and development," said Mike Lebovitz, Senior Vice President of Innovation at FM Global. "As the technology evolution accelerates and the world becomes increasingly interconnected, we are eager to engage with Plug and Play's dynamic innovation community and work with other innovators globally to help our clients maximize their resilience."
"We are committed to building the most innovative insurance platform in the world, where all of our partners can transform their digital strategy," said Saeed Amidi, Founder and CEO of Plug and Play. "We are excited to partner with FM Global and look forward to connecting them with our global ecosystem."
Plug and Play Insurtech is an innovation platform bringing together insurers, startups, and investors to advance the insurance industry with technology. Since inception in May 2016, they have provided a vast innovation platform for over 75 corporate partners and have made over 40 investments in Insurtech startups. Plug and Play Insurtech has a global footprint with offices in Beijing, Munich, New York, Singapore, and Tokyo.
About FM Global Established nearly 200 years ago, FM Global is a mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its client-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world's largest organizations, including one of every three Fortune 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.
About Plug and Play Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 280 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club and PayPal. For more information, visit www.plugandplaytechcenter.com.