LONDON, UK – March 20, 2017. Startupbootcamp InsurTech, the leading accelerator focused on insurance technology startups and corporate innovation, announces a new partnership with XL Catlin, which, through its insurance companies, offers property, casualty, professional, financial lines and specialty insurance products globally.
The announcement comes as Startupbootcamp InsurTech’s second program begins in London, with ten teams across five countries: South Africa, Spain, Sweden, U.K., and the U.S.; in addition to a Startup in Residence from France. Startupbootcamp InsurTech’s class of 2017 provides a range of insurance solutions, ranging from micro insurance to on-demand insurance, to solve problems across the insurance value chain with varying technology and business models.
Last year saw a significant interest in insurance technology, with deal activity hitting $1.7 billion in 2016 and a notable rise of insurers investing in or partnering with InsurTech startups. 2017 predictions suggest this will be the year of support, with more incumbents understanding the shifting insurance landscape, and speed. The partnership between Startupbootcamp InsurTech and XL Catlin will support these exchanges.
Sabine VanderLinden, Managing Director of Startupbootcamp InsurTech says,
“We are delighted to have XL Catlin as one of our program partners. XL Catlin has already been very engaged with our startups and helping the startups shape their business propositions to provide the most value and meet the needs of the insurance industry. This partnership with XL Catlin will enable us to continue to increase our worldwide exposure and provide additional entry points and opportunities for the startups into these markets.”
Vincent Branch, Chief Executive of Accelerate, XL Catlin’s internal InsurTech unit focused on leveraging commercial opportunities arising from new technologies, says:
“We all know our industry is undergoing a huge amount of change. New technologies are impacting our clients’ risk profiles both in terms of creating and eliminating risk; they are altering distribution channels and buying trends. Through working with Startupbootcamp InsurTech, we will be part of the innovative drive to understand how new technologies and insurance propositions will develop in the future and we will help bring new solutions to market.”
The new partnership with XL Catlin joins the list of leading insurance companies already partnered with the InsurTech program: The Admiral Group, Allianz, ERGO, Exponential Ventures, HDI, Intesa Sanpaolo, Lloyds Banking Group, LV=, Metropolitan, MJ Hudson, MMI Holdings, Momentum, Munich Re, PwC, Route66 Ventures, Scottish Widows, Swiss Re, Talanx, Tryg, UnipolSai, and Zurich.
Media contacts: Cognito Europe
Francesca Bliss / Paul Bowhay
+44 (0)20 7426 9417
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About XL Catlin
XL Catlin is the global brand used by XL Group Ltd’s (NYSE:XL) insurance and reinsurance companies which provide property, casualty, professional and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit xlcatlin.com.
About Startupbootcamp InsurTech
Launched in 2015, Startupbootcamp InsurTech is a global accelerator based in London that focuses on disruptive and collaborative insurance innovation. Our intensive three-month program provides startups with mentorship, an extensive network of insurers, angel investors, and VCs, and other valuable resources to enable them to collaborate with an ecosystem of market experts and to design unique propositions that provide solutions for the insurance market. Our partners include The Admiral Group, Allianz, ERGO, Exponential Ventures, HDI, Intesa Sanpaolo, Lloyds Banking Group, LV=, Metropolitan, MJ Hudson, MMI Holdings, Momentum, Munich Re, PwC, Route66 Ventures, Scottish Widows, Swiss Re, Talanx, Tryg, UnipolSai, XL Catlin, and Zurich. It is part of the global award-winning Startupbootcamp, a network of industry focused startup accelerators. For more information, visit www.startupbootcamp.org/accelerator/insurtech-london/
Founded in 2010, Startupbootcamp is a global accelerator network with 18 programs in Amsterdam, Barcelona, Berlin, Chengdu, Eindhoven, Istanbul, London, Mexico City, Miami, Mumbai, New York, Rome, and Singapore, and a 3,000+ strong mentor and alumni network in more than 30 countries. More than 400 startups have been accelerated by Startupbootcamp worldwide, raised over €210 million and achieve a combined valuation of more than €500 million. 80% of these startups are still active. For more information, visit: www.startupbootcamp.org.