- Swiss Re latest sigma study-"Global economic and insurance outlook 2020" says global economic growth will remain strong over the next two years, although momentum has peaked
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- RMS estimates that the insured loss for the Camp and Woolsey wildfires in California will be between $9 and $13bn expired
- Polaris announces Banga as new Managing Director expired
- Willis Towers Watson strengthens Insurance Consulting and Technology business with two senior hires expired
- Assurant appoints CFO, Europe expired
- Folgate returns to active underwriting expired
- SOBC DARAG Holdings acquires the entire share capital of SOBC Services expired
21st January 2018
Guidewire joins Plug and Play’s ecosystem to advance P&C insurance innovation and collaboration
Guidewire Software has announced it has joined Plug and Play’s ecosystem to advance P&C insurance innovation and collaboration. Plug and Play is a global start-up ecosystem and venture fund specializing in the development of early-to-growth stage technology start-ups in 12 verticals. Guidewire joins as a Corporate Partner focused on the Insurance vertical.
Guidewire will engage with a select group of Plug and Play startups to provide executive mentoring, domain and technical expertise, and the potential opportunity to be showcased in Guidewire Marketplace as value-add extensions to its InsurancePlatform.
“Insurers recognize the importance of innovation to their survival in today’s era of engagement. They strive to improve the experiences of their agents, employees, and most importantly their customers, and are embracing the importance of innovation now more than ever," said Lerk-Ling Chang, vp, Strategic Ventures and Innovation, Guidewire Software. "We are excited to extend our strong history of innovation– with our insurer customers, solution providers, and other start-ups to our collaboration with Plug and Play, its start-ups, and its member companies, as we collectively work to provide the solutions the industry needs."
“We have had the pleasure of hosting Guidewire customers at Plug and Play in Silicon Valley for a few years. Guidewire’s major R&D presence in Silicon Valley, and history of fostering innovation, make them an ideal addition to our ecosystem and we welcome them,” said Ali Safavi, Global head of Plug and Play InsurTech. “We respect their global expertise and industry leading position, and are excited about collaborating with them for the benefit of the P&C insurance industry.”
“Guidewire is committed to providing an industry marketplace and we see our role as that of curator, bringing tech providers together to provide the best solution options for P&C insurers,” said Ali Kheirolomoom, chief product officer, Guidewire Software. “Our work with the Plug and Play team, its startups, and its member companies, will enable insurers to remain focused on their businesses while we take on more of the heavy lifting in bringing innovative ideas to reality. We are pleased to be building on our more than 15 years of P&C industry innovation as a supporting part of the Plug and Play ecosystem and are excited to share the results of our efforts with our customers and the industry.”
Plug and Play is a global innovation platform. It connects start-ups to corporations and invest in over 150 companies every year. Since inception in 2016, its programs have expanded worldwide to include a presence in 27 locations globally giving start-ups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 start-ups and 220 official corporate partners, Plug and Play have created the ultimate start-up ecosystem in many industries. It provides active investments with 200 leading Silicon Valley VCs, and host more than 365 networking events per year. Companies in its community have raised over $6bn in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk.
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