Japanese property/casualty insurer Tokio Marine Holdings announced a partnership with Plug and Play’s Insurtech program in Singapore. With this new partnership in Singapore, Tokio Marine will now have access to Plug and Play’s network and the opportunity to work with curated startups from the Asia-Pacific region for testing and implementation throughout their offices in Southeast Asia.
Tokio Marine first established a partnership with Plug and Play in California’s Silicon Valley in December 2017.
“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,” says Hidemi Harada, vice president and head of Digital Strategy of Tokio Marine Asia.
Plug and Play launched its insurtech program in Singapore one year ago and has accelerated 49 startups to date. Partners to the program have the chance to dictate the focus of each batch, giving them the ability to target specific pain points in their business and search for different solutions. With the addition of Tokio Marine, Plug and Play now works with seven financial institutions in their fintech and insurtech programs.
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