Swiss Re launches first-ever corporate accelerator at the global scale and also the first insurance focused startup accelerator in India. The launch took place in Bangalore.
FinTech is already disrupting the wider financial services world and is now starting to make its mark on insurance. We are seeing FinTech being used to engage with customers in novel ways: new methods of delivery, new products and new data sources will all have an impact on underwriting and our understanding of risk. Swiss Re aims to be at the heart of these changes, helping to make the world more resilient to shocks.
The Accelerator programme provides a great opportunity for start-ups to develop their products and business case. And it allows Swiss Re to connect with innovative, new companies to share their ideas and learning. Managing risk may have been our core business for more than 150 years but we have never stood still. We want to continue to collaborate and learn so that we can create smarter solutions for our clients, helping the world rebuild, renew and move forward.
The Swiss Re InsurTech accelerator will be an engagement platform through which Swiss Re will partner with tech focused startups on business use cases and key technology themes to curate innovative products, practices and technology solutions. Over the course of four months up to five start-ups will have access to a variety of resources to develop their business ideas. At the end of the programme a demo day will be held, where each start-up will present their business case to an audience including Swiss Re business leaders, investors and other interested parties.
Bangalore's value proposition in the startup ecosystem is unique and well established. The last four to five years have seen this industry mature with NASSCOM and Microsoft Ventures adding a lot of value. The Indian technology landscape has seen tremendous growth towards creation of innovative startups in India; we want to play an active role in this ecosystem. We would love to partner with the Indian start-up community and develop solutions that make a difference to our industry.
We have kickstarted the startup scouting process through our industry and program partners in India. Startups can also find more details in our microsite and F6s.
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