The rise of US-based insurance innovation platforms
In partnership with Munich Re, Sompo Insurance, and USAA, Plug and Play (P&P) is launching their newest accelerator program called Plug and Play Insurance, because until now, insurance has been in large unplugged and no play. Applications will be accepted starting May 26 with P&P looking to invest $25,000 to $500,000 in up to 30 insurtech-focused startups from around the world. Speaking of innovation platforms, ACORD Insurance Innovation Challenge will not be coming to Silicon Valley on May 23, but will be coming to New York on June 7; same date in which the Silicon Valley Innovation Center (SVIC) will be hosting an event titled “Insurance Disrupted: Disruptive Business Models”. Worth Noting: P&P is one of SVIA’s innovation partners. Problem? Going Overseas; the 152-year-old reinsurer, aka Swiss Re, is setting up an insurtech accelerator in Bangalore seeking Indian startups in the space of IoT, AI, and Big Data.