Japanese property and casualty insurance group Tokio Marine Holdings has partnered with Plug and Play’s InsurTech program in Singapore.
Through this deal, Tokio Marine will gain access to Plug and Play’s network and get the opportunity to work with startups from the APAC region for testing and implementation across their Southeast Asia offices.
Plug and Play launched its InsurTech program in Singapore last August and has accelerated 49 startups to date. Partners have the ability to dictate the focus for each batch, enabling them to target specific pain points in their business and search for different solutions.
Tokio Marine is the seventh financial institutions to partner with Plug and Play’s FinTech and InsurTech programs.
Tokio Marine Asia vice president and head of digital strategy Hidemi Harada said, “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.”
Tokio Marine initially partnered with Plug and Play in Silicon Valley in 2017, which has helped connect Tokio with around 800 startups around the world.
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