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Irish Life joins Plug and Play Insurtech Programme

Initiative will accelerate innovation to further improve customer experience

Irish Life, one of Ireland’s largest financial services companies, has joined Plug and Play’s Insurtech platforms in Munich, Germany and Silicon Valley, California.

The deal is one of the core elements of Irish Life’s on-going commitment to the use of innovation and new technologies to improve customers’ experience across its life and health insurance, and pensions and investment solutions.

Plug and Play is one of the world’s leading start-up accelerators and open innovation platforms. Through this new association, Irish Life will be an anchor partner of the European Insurtech Programme, with direct access to start-ups in life and health insurance, and will also have access to Plug and Play’s Silicon Valley programmes including Fintech and Healthtech.

Welcoming the establishment of the strategic partnership, David Harney, CEO, Irish Life Group said that it would position Irish Life at the forefront of specialised global innovation in the insurance industry and deliver benefits for its customers in Ireland.

We will be focusing on innovation and technology evolution across three categories – propositions, operations and distribution – with direct access to start-ups in these areas. The use of Artificial Intelligence (AI) to improve insurance processes is one application in which we are particularly interested.

Our partnership with Plug and Play is just one of the ways Irish Life will continue its commitment to delivering innovation initiatives which benefit our customers, employees, brokers and distribution partners. This is a key strategic objective for Irish Life,” he said.

Plug and Play Insurtech is an innovation platform bringing together corporations, start-ups and investors to work on improving the insurance industry. Since Plug and Play Insurtech's inception in May 2016, it has provided a vast innovation platform to more than 70 corporate partners globally and has made over 20 investments in Insurtech startups.

The Plug and Play Insurtech programme for the life and health insurance industry has focused on developing technology driven solutions relating to financial wellbeing, healthcare and wellness, customer-centric services, risk and fraud assessment and life solutions. The technology start-ups in the Plug and Play programme are developing a wide range of solutions to improve customer experience and operational processes including using artificial intelligence and robotics to transform paper heavy processes such as claims handling, underwriting and customer servicing.

As a partner in the Plug and Play programme, Irish Life will have access to some of the best global start-ups in the Insurtech industry.    

 

About Plug and Play

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, LendingClub, PayPal, SoundHound, and Zoosk. www.plugandplaytechcenter.com

 

Media Coverage:

Business and Finance: https://businessandfinance.com/irish-life-joins-plug-and-play-insurtech/