‘InsurTech’ Corporate accelerator launched in India by Swiss Re
Bengaluru | Red Newswire | May 03 09:00 AM IST.
A number of accelerators for tech startups have already been set up and 1000s of startups have been incubated. Investors are now looking for something different to invest in. with this in mind, Swiss Re has launched ‘InsurTech’ – a corporate accelerator for startups in insurance sector. Startups which develop business solutions for this industry will be incubated under various themes including smart analytics, systems of engagement and Internet of Things.
Jason Richards, Head of P&C business management said, "Fintech is already disrupting the wider financial services world and is now starting to make its mark on insurance. We are seeing fintech being used to engage with customers in novel ways: new methods of delivery, new products and new data sources will all have an impact on underwriting and our understanding of risk. Swiss Re aims to be at the heart of these changes, helping to make the world more resilient to shocks."
This accelerator has been set up with the aim of offering development opportunity to startups building solutions for insurance sector. According to Jason, 5 Indian startups will be selected for the first round of incubation.
Alok Kumar, MD at Swiss Re – Bengaluru said, “The world, today, is constantly changing and to keep pace with the risk landscape, we need to continually innovate around how we offer risk protection products.”
During the course of InsurTech programme, startups will be provided with access to insights from the team of Swiss Re itself and other global expertise.