Tokyo-headquartered general insurer MSIG Insurance has expanded its potential to access and leverage new technologies by partnering with startup accelerator and corporate innovation platform, Plug and Play.
As part of the deal, MSIG becomes a founding anchor partner of Plug and Play’s Insurtech platform in Singapore and will be able to build relationships with startups more effectively, further strengthening its digital transformation efforts.
“Customers’ expectations of insurance are changing as technology plays a more important role in their day-to-day lives,” said Philip Kent, Executive Vice President, Planning and Chairman, Digital Taskforce Asia.
“Our partnership with Plug and Play is one of the ways for us to stay on top of this change and explore ways to serve our customers and partners better.”
Jupe Tan, Managing Partner, Plug and Play Asia Pacific added, “Based on the success of our stage-agnostic and multi-corporate innovation platforms in Silicon Valley, California, we are excited to extend this model to Singapore, providing proximity to many of our existing and prospective corporate partners in the financial and insurance sectors.”
“In the last few months, we launched our fintech and insurtech platform and have engaged with several leading financial and insurance institutions.”
“Partnering with MSIG Insurance is a great start to our journey and we look forward to connecting them to our global startup ecosystem.”