The themes identified for the programme include the Internet of Things, systems of engagement and smart analytics.
“Fintech is already disrupting the wider financial services world and is now starting to make its mark on insurance,” said Jason Richards, head P&C business management and technology-reinsurance.
“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.”
InsurTech provides an opportunity for startups to develop products and business case. Up to five startups in India will be selected for the first programme, Jason said.
“The world, today, is constantly changing and to keep pace with the risk landscape, we need to continually innovate around how we offer risk protection products,” said Alok Kumar, Managing Director at Swiss Re-Bengaluru.
During the InsurTech programme, startups will have access to the global expertise and insights from the Swiss Re team, mentors from the industry and technical enablement to work effectively from Swiss Re’s office in Bengaluru, the company said in a news release.
Source: The Economic Times