Tokio Marine has joined Plug and Play’s insurtech programme in Singapore.
The Japan-based property and casualty insurance group will have access to Plug and Play’s network and the chance to work with start-ups from the APAC region. These can be tested and implemented through its offices in South East Asia.
Tokio Marine first teamed up with Plug and Play in Silicon Valley in December 2017.
“Plug and Play and Tokio Marine are no strangers; we’ve had a partnership with Plug and Play back in Silicon Valley. This partnership has paved way to introduce us to 800 start-up companies globally and a better understanding of the insurtech landscape from a global lens. In Asia, we look forward to working with Plug and Play to accelerate and fast track our development with practical digital initiatives for the markets in the region and advance our innovative insurance business models for the whole group. We also look forward on leveraging Plug and Play’s network for cross-industry engagement in IoT, Mobility, Healthcare and Smart Cities,” said Hidemi Harada, vice president and head of digital strategy for Tokio Marine Asia.
Kayvon Deldar, the programme’s head of insurtech in Singapore, added: “We’re very excited to expand our relationship with Tokio Marine to Southeast Asia, where we’re looking to continue upon the success and learnings we’ve seen in Silicon Valley. We look forward to connecting their regional and country teams to the most relevant startups in insurtech and adjacent industries with the ultimate goal of helping them develop their digital and innovative business initiatives. I speak not only for ourselves, but our start-ups, that Tokio Marine’s regional and global business is a great strategic partner to have on our platform.”
In April 2019, Plug and Play launched its latest accelerator batch for start-ups. 35 insurtech companies signed on. Overall, 150 start-ups participated in the programme.
The selected firms took part in a three-month business development programme. They also had opportunities to meet over 280 corporate partners. Furthermore, they will collaborated with corporations, VCs and other start-ups.