Startupbootcamp InsurTech, the leading accelerator focused on insurance technology startups and corporate innovation, announces a new partnership with Old Mutual Emerging Markets, the leading financial services group. OMEM will bring global expertise and experience in international protection and investment solutions to Startupbootcamp InsurTech.
The announcement comes as Startupbootcamp InsurTech’s second program gears up for its Demo Day in London, where 10 startups and 1 mature startup-in-residence will present their businesses to over 700 people, including investors, mentors and partners.
The insurance industry has experienced mini eruptions over the last year caused by new market entrants. The current InsurTech landscape points to Artificial Intelligence (AI) as one of the most attractive new investments – 80% of Startupbootcamp InsurTech’s 2017 cohort is leveraging AI in their propositions to develop new products and services. The insurance market is ripe for change, and through collaboration and enablement a bridge is gradually being built to connect the two converging worlds.
Sabine VanderLinden, Managing Director of Startupbootcamp InsurTech says: “We are delighted to welcome Old Mutual as one of our program partners. InsurTech startups are keen to engage with leaders in the insurance sector able to help them refine their propositions and implement cutting edge projects. We look forward to collaborating with a leading financial services group that wants to spearhead innovation, particularly across Africa and key emerging markets.”
David Marshall, Chief Commercial Officer of Old Mutual Emerging Markets, comments: “We believe collaboration has a crucial role to play in enabling Old Mutual to provide sustainable financial wellbeing for our customers and their communities, and we are thrilled to be working with Startupbootcamp InsurTech.
“This partnership gives us early exposure to a myriad of emerging developments in InsurTech across the globe and makes it possible to explore various engagement prospects with the startups ranging from observation to experimentation to partnership to investment.
“The startups in turn have the opportunity to leverage our expertise, experience, resources and talent to build more compelling commercial propositions. The result is a mutually beneficial exchange that empowers both parties to achieve their core objectives.”
The new partnership with Old Mutual joins the list of leading companies already partnered with the InsurTech program: The Admiral Group, Allianz, ERGO, Exponential Ventures, HDI, Intesa Sanpaolo, Lloyds Banking Group, LV=, Metropolitan, MJ Hudson, MMI Holdings, Momentum, Munich Re, PwC, Route66 Ventures, Scottish Widows, Swiss Re, Talanx, Tryg, UnipolSai, XL Catlin, and Zurich.