Global innovation platform Plug and Play selected 16 startups for “Insurtech Europe” in Munich Germany
We wrote about Plug and Play Tech Center (Plug and Play) earlier this month. Yesterday, we also talked about Atidot, one of Plug and Play’s startups in its second cohort program. Founded in 2006, Plug and Play is a global innovation platform and the world’s largest startup accelerator. The company has built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Plug and Play provides 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.
Today, Plug and Play announced that 16 startups 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 selectedout 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 startups include:
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 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 uses AI to help insurers leverage social data to generate & convert insurance leads. https://digitalfineprint.com/.
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 is your full-service partner for drone services.
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/.
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 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.
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 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 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 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 transforms the customer’s experience while at the same time dramatically reducing insurer operational expenses and indemnity cost. https://rightindem.com/.
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 Labs Inc. is a startup technology company offering a cloud-based, on-demand, pay-per-use insurance platform. https://www.slice.is/.
Xapix’s software uses the automation to make data transformation, normalization, and integration more powerful. https://www.xapix.io/.