With an aim to help startups to develop business solutions for the insurance sector in India, Swiss Re has launched a corporate accelerator, 'InsurTech'. The accelerator will provide an opportunity for startups to develop products and business case and up to five startups in India will be selected for the first programme.
The themes identified for the programme include the Internet of Things, systems of engagement and smart analytics. During the programme, startups will have access to the global expertise and insights from the Swiss Re team, mentors from the industry and technical enablement to work effectively from Swiss Re's office in Bengaluru.
"Fintech is already disrupting the wider financial services world and is now starting to make its mark on insurance," said Jason Richards, head P&C business management and technology-reinsurance. "We are seeing fintech being used to engage with customers in novel ways: new methods of delivery, new products and new data sources will all have an impact on underwriting and our understanding of risk. Swiss Re aims to be at the heart of these changes, helping to make the world more resilient to shocks."
The Swiss Re Group is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. Founded in Zurich, Switzerland, in 1863, Swiss Re serves clients through a network of over 70 offices globally.
A few days back, Mumbai-based Zone Startups India, a venture fund and accelerator housed at BSE, has also launched a 6-week accelerator programme – “empoWer”, to support women entrepreneurs who are building technology ventures.
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