SUNNYVALE, Calif., Feb. 6, 2018 /PRNewswire/ -- Plug and Play Insurtech welcomes M Financial as its 55th partner. Headquartered in Portland, Oregon and comprised of 155 Member Firms across the U.S., as well as the U.K. and U.A.E., M Financial is searching for startups to transform the life insurance industry for the clients they serve. Startups accepted into Plug and Play's platform will have the opportunity to pilot their technology with M Financial and the other partners in the program. M Financial is the first Plug and Play partner that is both a distributor and reinsurer of life insurance products.
M Financial's decision to partner with Plug and Play was the result of their focus on enhancing the client experience. With a strong track record of product innovation, M Financial sees an opportunity to work with Plug and Play and its partners to innovate at every point in the client value cycle and deliver meaningful and sustainable value.
Wes Thompson, M Financial's President and CEO, said: "This is a groundbreaking relationship for M. Our legacy of innovation, most notably in product, has been driven by ideas, insight, and experience, as well as the unique nature of our reinsurance operation, led by Craig Shigeno. Plug and Play offers us a path to build on this success and accelerate our delivery of new innovations—in both product and process—that further differentiate us in the marketplace, enhance the client experience, and fuel our growth in a variety of areas. Craig will lead efforts to make our key differentiators exponentially more powerful by integrating them into a community focused on collaboration, 'what if' thinking, and aligned interests."
"We have been working hard building an innovation platform for the insurance industry, where we can help our partners digitally transform," says Saeed Amidi, Founder and CEO of Plug and Play. "There are great startups that will change the way people invest in the future and companies that are ready to embrace these technologies will better serve their clients. We're pleased to work with M Financial and look forward to connecting them to our ecosystem."
Plug and Play Insurtech is an innovation platform bringing together corporations, startups, and investors to work on improving the industry. Since Plug and Play Insurtech's inception in May 2016, they have provided a vast innovation platform for over fifty corporate partners and have made over 20 investments in Insurtech startups. Plug and Play Insurtech has recently expanded internationally to New York, Munich, and Tokyo, with plans to locate to Singapore and China this year.
About Plug and Play
Plug and Play is a global innovation platform. We connect startups to corporations and invest in over 150 companies every year. Since inception in 2006, our programs have expanded worldwide to include a presence in 28 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 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 365 networking events per year. Companies in our community have raised over $6 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit www.plugandplaytechcenter.com.
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