Plug and Play Insurtech

Plug and Play Insurtech is a prominent vertical within the global innovation platform and venture capital firm, Plug and Play Tech Center, headquartered in Sunnyvale, California. It operates as an accelerator and corporate innovation program, specifically designed to bridge the gap between early-stage insurtech startups and established insurance carriers, brokers, and reinsurers. The program facilitates engagement through structured deal flow sessions, themed workshops, and direct, face-to-face interactions, fostering a collaborative environment for technological advancement in the insurance sector.

While its primary function is acceleration and corporate partnership, Plug and Play Insurtech also provides initial capital to selected startups. Their typical first check for companies accepted into their accelerator cohorts generally ranges from approximately $50,000 to $150,000, usually in exchange for a small equity stake. This investment is part of a comprehensive support system that includes mentorship from industry veterans, access to a vast network of corporate partners, and opportunities for subsequent funding rounds. The program actively seeks innovations across the entire insurance value chain, from customer acquisition and policy management to claims processing and risk assessment.

As an integral part of the broader Plug and Play ecosystem, the Insurtech vertical benefits from a global reach that has collectively accelerated over 2,000 companies across various industries. The Insurtech program itself boasts a robust network of corporate partners, including major players like Allianz, Travelers, and Munich Re, who actively participate in scouting emerging technologies and forming strategic alliances. Through its multiple annual batches, Plug and Play Insurtech has significantly contributed to the growth of hundreds of startups, with alumni collectively raising billions in follow-on funding, underscoring its substantial influence on the insurtech landscape.