Plug and Play Announces Sixteen Startups Selected for Insurtech Inaugural Batch in Munich

Plug and Play announced on Thursday that 16 startups were selected to join the accelerator’s “Insurtech Europe powered by Plug and Play,” which was created with some of Plug and Play’s 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).

According to Plug and Play, the 16 startups partaking in Batch Zero have been carefully selected out of hundreds of applicants. They represent varied insurance areas from end distribution to claims handling and all the important processes in the middle. Saeed Amidi, Founder and CEO of Plug and Play, stated:

“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. We are excited to introduce these companies into our ecosystem in Munich and help them grow.”

The sixteen startups selected are the following:

  • Bleenco: A startup that 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.
  • Bodylabs: A professional healthcare provider that generates personalized prevention programs based on the most relevant human biomarkers.
  • Digital Fineprint: The startup uses AI to help insurers leverage social data to generate & convert insurance leads.
  • Evertracker: A platform automates and optimizes logistics by reducing theft, increasing transparency and thus, a reduction of claims on insurances.
  • FairFleet: A full-service partner for drone services.
  • Fing Ltd: A network security device that has the 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.
  • getmeIns: 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.
  • IMburse: AMburse 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: A company that provides insurers, brokers and MGAs with a software tool to move from product concept, to binding online, in a matter of weeks.
  • LexaTexer: A company that 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.
  • omni:us: A next generation AI service which closes the gap in machine-to-machine information when it comes to claims management and automated policy processing.
  • Onegini: A company that 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.
  • RightIndem: A company that transforms the customer’s experience while at the same time dramatically reducing insurer operational expenses and indemnity cost. .
  • Shift Technology: A company that provides insurance companies with an innovative SaaS solution to improve and scale fraud detection – leveraging advanced AI, Machine Learning and Big Data technologies. .
  • Slice: A startup technology company offering a cloud-based, on-demand, pay-per-use insurance platform.
  • Xapix: The company’s software uses the automation to make data transformation, normalization, and integration more powerful.

Plug and Play added that during the next three months, the startups will be introduced to the accelerator’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.

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