Sixteen Startups Selected for Plug and Play Insurtech's Inaugural Batch in Munich

MUNICH, March 29, 2018 /PRNewswire/ -- Plug and Play announced today the 16 startups that will join "Insurtech Europe powered by Plug and Play," the newly launched Plug and Play Insurtech Innovation Platform in Munich. This platform was created with some of Plug and Play's most trusted partners: Allianz, Munich Re, Talanx, Versicherungskammer Bayern and Swiss Re as well as in collaboration with the Insurtech Hub Munich (part of the Digital Hub Initiative by the German Federal Ministry for Economic Affairs and Energy).

The 16 startups partaking in Batch Zero have been carefully selected out of hundreds of applicants. They represent varied insurance areas from end distribution to claims handling and all the important processes in the middle.

"Plug and Play has been working with startups for 12 years and is active in over 20 locations globally. Our goal is to match startups to corporations based on their interests to create mutually beneficial partnerships that embody the Plug and Play spirit of open innovation," says Saeed Amidi, Founder and CEO of Plug and Play. "We are excited to introduce these companies into our ecosystem in Munich and help them grow."

During the next three months, the startups will be introduced to Plug and Play's corporate partners and have the chance to land pilots, POCs, and investment opportunities with these companies. Plug and Play does not take equity as a prerequisite to join the program and there is no additional 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.

Plug and Play, a Silicon Valley Innovation Platform, formally launched Plug and Play Insurtech Munich on November 14, 2017. The Munich platform will bring new insurtech solutions and innovation to the heart of Europe and create economic development centered on world-class insurance companies. The 16 startups will graduate on June 26th, Plug and Play Insurtech's First Expo Day in Europe. For more information on the program and Plug and Play Insurtech, visit pnptc.com/insurtech.

The 16 companies are as follows:

Bleenco

Bleenco creates human centered AI software that detects human actions & behavior from a video, audio and physiological sensors to prevent accidents, improves well-being and boosts safety on the road, at the factory and many more places. More information at https://bleenco.com/.

Bodylabs

Bodylabs is the first professional healthcare provider that generates personalized prevention programs based on the most relevant human biomarkers. More information at https://bodylabs.io/de/.

Digital Fineprint

Digital Fineprint uses AI to help insurers leverage social data to generate & convert insurance leads. https://digitalfineprint.com/.

Evertracker

Evertracker's platform automates and optimizes logistics by reducing theft, increasing transparency and thus, a reduction of claims on insurances. http://www.evertracker.com/.

FairFleet

FairFleet is your full-service partner for drone services.
https://www.fairfleet360.com/

Fing Ltd

Fing, the award-winning network security device (CES 2018), has a unique ability to identify connected devices by brand, make and model and to detect intruders, block devices and help you with Wi-Fi and Internet troubleshooting. https://www.fing.io/.

getmeIns

Click-Ins, through its revolutionary product - getmeIns™, concentrates its efforts at helping carriers predict fraud at point of sale as well as point of claim using a holistic approach that leverages military-grade intelligence techniques. https://getmeins.com/.

IMburse

IMburse is a cloud-based technology platform that enables companies to collect and pay out in any market, any currency and any technology via a single integration.
https://www.imbursepayments.com/.

INSTANDA

INSTANDA provides insurers, brokers and MGAs with a software tool to move from product concept, to binding online, in a matter of weeks. https://instanda.com/.

LexaTexer

LexaTexer uses a machine learning platform to offer predictive analytics, to help the finance and insurance sectors to direct risk assessment and to support the automation of underwriting and claims processing by analyzing unstructured information. http://www.lexatexer.com/.

omni:us

omni:us is a next generation AI service which closes the gap in machine-to-machine information when it comes to claims management and automated policy processing. https://omnius.com/.

Onegini

Onegini empowers insurers to accelerate their digital transformation, by providing a Customer Identity and Access Management platform for Finance to get their customers, brokers and business partners online. https://www.onegini.com/.

RightIndem

RightIndem transforms the customer's experience while at the same time dramatically reducing insurer operational expenses and indemnity cost. https://rightindem.com/.

Shift Technology

Shift Technology provides insurance companies with an innovative SaaS solution to improve and scale fraud detection – leveraging advanced AI, Machine Learning and Big Data technologies. https://www.shift-technology.com/.

Slice

Slice Labs Inc. is a startup technology company offering a cloud-based, on-demand, pay-per-use insurance platform. https://www.slice.is/.

Xapix

Xapix's software uses the automation to make data transformation, normalization, and integration more powerful. https://www.xapix.io/.

About Plug and Play Insurtech

Established in 2016, Plug and Play Insurtech is one of Plug and Play's largest industry-specific programs with 5 locations around the globe and its headquarters in Silicon Valley.  The program currently has over 65 corporate participants including Farmers Insurance, Allianz, Nationwide, SOMPO Digital Lab, and Travelers, and has worked with hundreds of international Insurtech startups to date.

For more information, visit http://plugandplaytechcenter.com/insurance/.

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 21 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 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, LendingClub, PayPal, SoundHound, and Zoosk. For more information, visit www.plugandplaytechcenter.com.

Plug and Play Insurtech Contact
Xenia Poppe
[email protected]

SOURCE Plug and Play

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