Plug and Play Insurtech announced earlier this week 17 startups will join Batch One of “Insurtech Europe powered by Plug and Play,” which is described as a platform that formally launched on November 14, 2017, by Plug and Play Insurtech and Insurtech Hub Munich. The corporate partners on the platform include Allianz, Munich Re, Versicherungskammer Bayern, Talanx, Irish Life, Willis Towers Watson, and Swiss Re.
According to Plug and Play Insurtech, the startups that are participating in Batch One have been selected from more than 500 startups screened first by Plug and Play and then narrowed down in collaboration with the Founding and Anchor partners of the program. While sharing more details about the program, Ali Safavi, Global Head of Plug and Play Insurtech, stated:
“The Munich platform brings new insurtech solutions and innovation to the heart of Europe. The aim is to foster economic development by facilitating meaningful and strategic interactions between world-class insurance companies and dynamic startups from the area and across our global network. As our first full Insurtech cohort in Europe, we are excited to see the results at the end of the program.”
The 17 startups selected for the program are as follows:
- Simple: A financial services platform for freelancers, small and medium-sized businesses.
- Anorak: Smart Life Insurance Advise platform. It gives everyone easy access to personalized, regulated, transparent and impartial life insurance advice.
- Contiamo: A data science platform enabling vertical-specific solutions delivering optimized operational decision-making.
- Digital Claim: A startup that supports insurance companies with a highly automated claim recovery process that utilizes machine learning technology and a proprietary claim software.
- Enterprise Bot: An artificial Intelligence company that provides white-labeled cognitive solutions.
- Geospatial Insight: A company that helps providers of risk intelligence derived from analysis of satellite, aerial and drone imagery, for a range of applications across the insurance value chain.
- Hepster: A company that is seeking to revolutionize insurtech by developing digital products and markets for businesses and consumers.
- Kinetikos: A data company with the mission to revolutionize clinical decision-making to objectively diagnose, analyze and support clinicians in planning treatments for mobility disorders around the world.
- Medicus AI: A wellbeing platform that interacts with people of all profiles to deliver uber-personalized health engagement and smart wellbeing coaching.
- QED-it: A company that combines two advanced technologies, zero-knowledge proof cryptography and enterprise Blockchain, to solvie the coordination between actors in the same industry, eliminating the necessity of sharing their confidential data.
- r4: A company that is helping organizations realize new revenue and profit growth by combining yield optimization with AI technology.
- SkenData: A company that simplifies the value and risk assessment of real estate, making it easier, faster and more objective. SkenData is the first, completely digital method of building valuation.
- Tapoly: An insurtech platform that offers on-demand insurance to freelancers, contractors, and SMEs, with a focus on the sharing and gig economy.
- ThinxNet: A company that creates a solution bringing the connectivity to all cars and creates the first user-driven platform offering highly attractive services and benefits to users and partners.
- Torafugu: A company that uses AI and Machine Learning to develop solutions that enable individuals with pre-existing health conditions to reduce their insurance costs by actively managing their disease while improving their wellness.
- Vlot: Offers integrated B2B2C (white label) risk analysis, coverage and dynamic planning solutions combined with digital underwriting through cutting-edge APIs and algorithms.
- Wenalyze: A Big Data Analytics platform that enables insurance companies to discover new up and cross-selling opportunities and reduce fraud rates.
Plug and Play Insurtech added that during the next 12 weeks the startups will be introduced to Plug and Play’s corporate partners and have the chance to work with various business units to evaluate POCs, pilot projects, and investment opportunities.