Plug and Play's Insurance Platform has put out a call to all startups for applications for its new InsurTech accelerator program.
The 12-week program, announced in April is part of a partnership with Munich Re, USAA, Farmers Insurance, Nationwide, State Farm, Travelers, and Compare.com, among others.
"There's been more of a focus on InsurTech in Silicon Valley, and partnering with Plug and Play will keep us and other industry players informed about emerging technologies that could play a role in our sector in the next decade," said Robert Mozeika, executive innovation strategy at Munich Re Silicon Valley, in a statement.
An insurance kickoff event was held at Plug and Play earlier this month, with more than 100 attendees and 20 corporations present, according to the company. Startups had the chance to present on stage and attend a panel discussion with Munich Re, USAA, Deloitte, and AIG, which dove deeper into what types of technologies insurance companies may expect them to innovate.
"We are already working with thousands of startups in our ecosystem, but with this new initiative, we are looking for stage-agnostic InsurTech startups that could facilitate changes in various aspects of the industry," said Ali Safavi, director of Plug and Play Insurance.
Startups accepted into Plug and Play’s program will receive office space in its Sunnyvale, California headquarters, expert mentor curricula and a chance to pitch in front of Silicon Valley's biggest investors at EXPO, Plug and Play’s quarterly competition event.
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