On Tuesday Plug and Play Insurtech announced it has welcomed M Financial as its 55th partner. According to Plug and Play, M Financial is headquartered in Portland, Oregon and comprised of 155 member firms. The company is now searching for startups to transform the life insurance industry for the clients they serve. Startups accepted into Plug and Play’s platform will have the opportunity to pilot their technology with M Financial and the other partners in the program. M Financial is the first Plug and Play partner that is both a distributor and reinsurer of life insurance products.
Plug and Play reported that M Financial’s decision to partner with it was the result of the company’s focus on enhancing the client experience. With a strong track record of product innovation, M Financial sees an opportunity to work with Plug and Play and its partners to innovate at every point in the client value cycle and deliver meaningful and sustainable value. Wes Thompson, M Financial’s President and CEO, stated:
“This is a groundbreaking relationship for M. Our legacy of innovation, most notably in product, has been driven by ideas, insight, and experience, as well as the unique nature of our reinsurance operation, led by Craig Shigeno. Plug and Play offers us a path to build on this success and accelerate our delivery of new innovations—in both product and process—that further differentiate us in the marketplace, enhance the client experience, and fuel our growth in a variety of areas. Craig will lead efforts to make our key differentiators exponentially more powerful by integrating them into a community focused on collaboration, ‘what if’ thinking, and aligned interests.”
Saeed Amidi, Founder and CEO of Plug and Play, added:
“We have been working hard building an innovation platform for the insurance industry, where we can help our partners digitally transform. There are great startups that will change the way people invest in the future and companies that are ready to embrace these technologies will better serve their clients. We’re pleased to work with M Financial and look forward to connecting them to our ecosystem.”