SUNNYVALE, Calif., May 16, 2017 /PRNewswire/ -- Plug and Play Insurtech has grown to 45 corporate partners and has split into three verticals: General Insurtech, Property & Casualty (P&C), and Life/Health/Group Benefits. New partners to the program include Beazley, Canada Life Re, EMC Insurance Companies, and Guy Carpenter & Company, LLC.
Peter Hearn, President and CEO of Guy Carpenter & Company, said, "As Guy Carpenter's clients face an ever-growing array of challenges and opportunities, our alliance with Plug and Play allows us to connect our clients with the top innovators in Insurtech, helping increase productivity and drive growth opportunities. We are excited to join Plug and Play's network of innovative corporate partners, which supports Guy Carpenter's longstanding commitment to give clients access to unparalleled strategic advice."
Plug and Play Insurtech's ecosystem brings together the world's largest insurance corporations, startups, and venture capitalists eager to embrace innovation and redefine insurance practices. Since its conception in 2016, corporations have partnered with Plug and Play's Insurtech team to review, refine and ideate with hundreds of startups. The different parties in the ecosystem engage one another through one-on-one private meetings, pitch events, and networking opportunities. This gives the partners a preview of the startups in consideration of further engagement. In 2017, the Insurtech platform hosted 125 sessions between startups, corporations, and VCs, with an average of 4-5 startups reviewed in each meeting.
Startups graduating from this program will pitch at Plug and Play's Summer Summit, June 6th-8th, that includes startups from nine of Plug and Play's accelerator programs including Insurtech, Health & Wellness, Fintech, Food & Beverage, New Materials & Packaging, Brand & Retail, Mobility, Travel & Hospitality, and Internet of Things. After graduation, alumni continue on as part of Plug and Play's vast ecosystem. Tickets are still available: http://bit.ly/summersummit17
About Plug and Play Insurtech
Established in 2016, Plug and Play Insurtech is one of Plug and Play's largest industry-specific programs. This 12-week business development program is headquartered in Silicon Valley. The program currently has 45 corporate partners including Farmers Insurance, Munich Re, Nationwide, SOMPO Digital Lab, and Travelers, and has worked with hundreds of startups to date. Plug and Play Insurtech runs three separated tracks throughout the program: General Insurtech, Property & Casualty, and Life/Health/Group. For more information, visit http://plugandplaytechcenter.com/insurance/
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 22 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 180 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 $5 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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SOURCE Plug and Play