BEIJING, Dec. 20, 2018 /PRNewswire/ -- Sunshine Insurance Group and the Plug and Play China Insurtech Program signed a strategic partnership at their eco-launch ceremony at the Plug and Play China's 2018 Winter Summit on November 21st.
Plug and Play, a global startup accelerator and corporate innovation platform headquartered in Silicon Valley, promotes innovation in more than a dozen industries including insurance. Plug and Play's Insurtech Program was established in May 2016 and now has offices in Silicon Valley, New York, Munich, Singapore, Tokyo, and Beijing, working with over 75 insurance companies and more than 1,000 startups around the world to link global resources and promote the innovation of insurance technology.
Sunshine Insurance Group partners with Plug and Play China in order to partner, pilot, and collaborate with emerging Insurtech startups. Through tailored dealflows and focus weeks, Plug and Play China will bridge the gap with tier 1 startups and Sunshine Insurance Group to develop new products and technologies for the insurance sector.
Zhenbin Xu, Chief AI Scientist of Sunshine Insurance Group, commented, "We are very happy to work with Plug and Play, and hope that more excellent startups will join Sunshine Insurance Group and collaborate with us through this platform."
"We feel honored to cooperate with the Sunshine Insurance Group," said Jieping Xu, Executive Director and CEO, Plug and Play China. "Plug and Play is committed to building a global innovation ecosystem that brings together corporations, startups, investment institutions, local governments, and research institutes. The participation of the Sunshine Insurance Group will bring vitality to the innovation of the entire insurance industry."
Ali Safavi, Founder and Global Director, Plug and Play Insurtech welcomes the partnership of such a large insurance company to help China's insurance technology boom. Ali indicated, "The uniqueness of insurance technology is that it can help insurance corporations to distribute products and improve efficiency in a way that exceeds people's traditional expectations. China is one of the top 10 insurance markets in the world, where really inspirational entrepreneurs have emerged with solutions at the forefront of this market. We encourage more insurance companies to embrace this trend with an open mind so that they can grow together."
Plug and Play China held hundreds of events for their 60+ corporate partners this year, selecting top growing startups into their program. In 2018, Plug and Play Insurtech accepted its first batch of 16 startups its new program in Beijing.
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
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