Unum (NYSE:UNM), a market leader in providing disability, life, accident, critical illness, dental and vision insurance in the workplace, announced on Tuesday it has formed a partnership with Plug and Play Insurtech, a Silicon Valley-based startup innovation platform.
According to Unum, this new partnership connects the insurance platform with technology startups through the Plug and Play Insurtech ecosystem to find solutions that enhance the customer experience, improve risk management and create more efficient processes. Ted Reed, Vice President of Business Development at Unum, stated:
“Through venture partnering, we have the potential to integrate new technologies and capabilities into our business at the speed and innovation that is common with startups. Partnering with Plug and Play will help us increase our tempo of innovation and simplify and expedite processes to improve the client experience.”
Unum also reported it joins Plug and Play Insurtech’s fourth batch of companies that take part in a twelve-week accelerator program designed for the insurance industry, which will run until June 12th. Ali Safavi, Global Head of Plug and Play Insurtech, added:
“We are here to connect the best startups to the most innovative corporations. Plug and Play Insurtech brings together the largest insurers ready to establish change. We are excited to welcome Unum into our ecosystem and help them implement a new innovation strategy to better serve the insurance industry as a whole.”