Plug and Play Singapore Announces First Batch of Startups Selected For Its Fintech and Insurtech Program

SINGAPORE, Sept. 18, 2018 /PRNewswire/ -- Plug and Play's newest innovation platform, based out of Singapore, aims to create a multi-corporate Fintech and Insurtech program, running two 12-week accelerator batches a year. Plug and Play's program has already announced partnerships with MSIG for Insurtech and with Krung Thai Bank and TVS Credit for Fintech. Their platform also seeks to be the primary innovation hub for financial services in the ASEAN region, centralized through the program in Singapore.

After screening over 200 applicants, the final selection of 24 startups has been accepted into Fintech and Insurtech Singapore, which aims to facilitate pilots, POCs, and business development opportunities between the financial and insurance institutions and startups participating.

"Being in the center of a robust global innovation hub enables us to help build a thriving Fintech and Insurtech ecosystem in Singapore to service the broader Southeast Asia region. The launch of our Fintech and Insurtech program this year with 24 startups sees us bring in both local and international startups, adding more color into the startup ecosystem in Singapore. We hope to continue partnering with leading companies and startups around the region to provide high-quality products and solutions for our corporate partners' core business and innovation goals," says Kayvon Deldar, Program Head of Plug and Play Singapore Fintech and Insurtech.

Throughout the duration of the 12-week program, startups will be introduced to Plug and Play's corporate partners and have the chance to work with their different business units to evaluate pilot projects and investment opportunities with these companies. The EXPO or Demo Day for these startups will be in mid-November, coinciding with the Singapore Fintech Festival. There is no cost for the startups to be in the program and they will remain part of the ecosystem even after graduation.

The 24 selected startups cover a diverse cross-section of insurance and financial technologies.

AIDA Technologies - www.aidatech.io
AIDA's AI-Driven Analytics provides solutions which addresses the key challenge of automation of knowledge work by augmenting human experts ability to make decisions when confronted with huge amounts of heterogeneous information from diverse sources.

ALLCARE - www.allcare.io
ALLCARE make company benefits like healthcare, insurance, training, and other perks accessible to all workers including contractual, freelancers and self-employed individuals.

Amodo - www.amodo.eu
Amodo enables Insurance companies to achieve significant savings through lower claim costs and to facilitate business growth through lower acquisition cost, and higher CLTV.

Apvera - www.apvera.com
Apvera leverages adaptive analytics to understand user behavior and the interactions they have between applications they use and the company's network. Adaptive Insight adapts to changes within the network and learns normal user behaviors based on company employee activities and is able to detect anomalies that are not inline with regular usage patterns.

Bambu - www.bambu.life
Bambu is Asia's Premier B2B Robo-Advisor, offering businesses the ability to benefit from the ongoing digital transformation in wealth management.

Brankas - www.brank.as
Brankas was built with the goal of empowering consumers and small businesses with the tools for better money management.

Cignifi - www.cignifi.com
Cignifi developed the first digital acquisition and scoring platform using mobile phone behavior data, which enables banks and insurers to acquire and underwrite underserved emerging consumers, providing financial products for millions of customers who lack traditional credit histories.

Claim Di - www.claimdi.com/en
Claim Di is a mobile application that facilitates all communication and claims between drivers and their insurance companies.

Dowsure - www.dousha8ao.com
Dowsure is an innovation cross border e-commerce insurance company dominated by seniors of insurance and IT experts with leading Dynamic Risk Pricing Model based on AI and Risk Management System.

Eltropy - www.eltropy.com
Eltropy is an Enterprise SaaS company that has built the world's first text-messaging based Sales platform, using which BFSI sales teams can leverage SMS, WhatsApp, Facebook Messenger etc. to engage and sell financial products to customers.

Flowcast - www.flowcast.ai
Flowcast is a Fintech startup bringing AI/machine learning to supply chain finance, providing a machine learning algorithm to assess performance risks at the transaction-level.

HEXANIKA - www.hexanika.com
HEXANIKA's simple, smart and efficient software harnesses Big Data and Machine Learning to automate data ingestion and rules creation for analytics and reporting, improving data quality, keeps regulatory reporting in harmony with the dynamic regulatory requirements, and keeps pace with latest regulatory updates.

Limitless - www.limitless.app
Limitless' mission is to provide banks and other financial institutions with a PSD2-ready, white-label micro-investment solution that helps young people reach their goals faster in a simple and engaging way.

Lucep - www.lucep.com
Lucep gets your sales team talking to your leads in under 60 seconds - leads instantly go from your website to the mobile of every sales person, helping SME businesses convert website traffic into actionable leads that their sales teams can engage with.

Moxtra - www.moxtra.com
Moxtra helps financial services companies deliver a customer-centric, digital branch experience to attract, engage, and retain today's banking customers.

Onfido - www.onfido.com
Onfido is an identity verification and background check platform designed to help companies ensure that their customers are who they claim to be.

PolicyPal - www.policypal.com
PolicyPal helps consumers and SMEs to manage and optimize insurance policies through OCR technology and AI chatbot, offering personalized recommendations using social media and existing policies data, allowing users a variety of options as well as providing transparency on their policies' coverages.

Pypestream - www.pypestream.com
Pypestream is a Customer Engagement Solution that connects businesses to their customers through the power of smart messaging to drive satisfaction and loyalty.                       

SQREEM Technologies - www.sqreemtech.com
SQREEM is a privately held technology company delivering products and services to over 40 commercial and public sector customers world wide.

TAIGER - www.taiger.com
TAIGER is a high tech software vendor specialized in providing knowledge worker automation solutions such as Corporate Account On-boarding, Margin calls, Manual Allocations, SSI or claims processing to Financial Institutions, Insurance and Governments.

Verrency - www.verrency.com
Verrency is a financial technology innovation platform and marketplace that enables Issuing Banks to introduce innovative payment services faster, at lower cost and reduced risk.

Vizru Inc. - www.vizru.com
Vizru offers a Digital Transformation suite that allows enterprises to adapt to any changes in the industry. Companies like Dell, VMware, Toshiba, Visa, BNP Paribas, and others are using Vizru to tackle a wide variety of industry-specific problems from process automation, data orchestration framework for IoT devices, to rapid products developments.

Vymo - www.getvymo.com
Vymo is an Intelligent Personal Assistant that automatically detects actions of sales reps, predicts what a sales rep should do next, learns from the best reps in the organization, and coaches them to achieve best outcomes.

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 facilitate 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 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. We are the world's most active venture capital firm, with roughly 250 startup investments a year.

Our Singapore office was launched in 2010 to invest in high tech startups in the region. Since then we have invested in more than 30 startups and have collaborated with various agencies of the Singapore and Indonesian governments, as well as partnered with multinational and regional corporations to run industry-specific accelerator programs. For more information, visit www.plugandplaytechcenter.com/singapore

Plug and Play Contact

Plug and Play Fintech and Insurtech Singapore
[email protected]

Allison Romero
Director, Marketing
[email protected]

Carinna Goh
Manager, Community and Marketing
[email protected]

SOURCE Plug and Play