Re/insurance broker Willis Towers Watson (WTW) has expanded its partnership with Plug and Play, an innovation platform and venture fund that specialises in the development of early-to-growth stage technology startups.
The new agreement extends WTW’s access to insurtech startups across all of Plug and Play’s platforms, which include Beijing, Munich, New York, Silicon Valley, Singapore and Tokyo.
As part of the agreement, Willis Towers Watson will assist in qualifying, mentoring and collaborating with insurtech startups in Plug and Play’s global ecosystem.
“We’re very excited about this partnership and believe it demonstrates our commitment in bringing the newest and most innovative technology – both our own solutions and offerings from the world’s leading tech centers – to our clients,” said Carl Hess, head of Investment Risk and Reinsurance, Willis Towers Watson.
“It also accelerates our ability to advise clients on start-up-driven innovation and create greater value for them and the insurance industry.”
Saeed Amidi, Chief Executive Officer, Plug and Play, said, “Their commitment to sourcing innovation for clients has made them one of the most visible partners on the Plug and Play platform.”
“This global partnership between two very powerful brands will strengthen our collective efforts to source innovative InsurTech solutions from around the world. We look forward to much success between our two organizations as we continue to engage with the global start-up community.”
Willis Towers Watson and Plug and Play also partner on innovation platforms across health and wellness, as well as Enterprise 2.0, which focuses on transforming management structures, company culture and how work gets organised.
“We believe better ideas come through collaboration inside and outside our company,” added Todd Jones, head of Corporate Risk and Broking, Willis Towers Watson.
“We have already had great success in partnering with emerging firms for the benefit of our clients and look forward to expanding those opportunities through this relationship to enhance the client experience we deliver and help transform the insurance industry more broadly.”
