Innovative acceleration hub aims to bring insurers and startups together to advance innovation in the industry
Capgemini announced today that it has joined the Hartford InsurTech Hub. Powered by Startupbootcamp, the Connecticut-based hub is a global accelerator set up to help the insurance industry advance its innovation goals by scouting technology solutions provided by startups around the world to meet the industry’s core business challenges and aspirations. The hub also provides opportunities for leading technology startups to learn about meeting the needs of potential insurance industry partners.
Hartford InsurTech Hub started in January 2018, welcoming ten teams from five countries. The 2018 cohort provided a range of insurance solutions using Artificial Intelligence (AI), Big Data Analytics and Natural Language Processing combined with Cyber Security, Smart Home and Health Insurance. The 2019 Top 10 startups are currently being welcomed into the hub.
“With more than 100 insurers headquartered in Connecticut, there is a great opportunity to spark innovation through collaborative transformation with InsurTechs,” says Shane Cassidy, Managing Director of Capgemini’s Insurance Business Unit. “The Hartford Insurance Hub is a unique forum to bring everyone together to foster the development of the next generation of insurance by turning ideas into reality. It’s more than just talking about innovation, it is teaming to innovate.”
The Hartford InsurTech Hub is a Startupbootcamp venture designed to specifically address the needs of the insurance industry. Capgemini has worked with other Startupbootcamp ventures, most notably in The Netherlands with FinTechs, during its 18-month relationship.
Sabine VanderLinden, CEO, Startupbootcamp InsurTech states that “We see a big shift in the way in which consumers and corporates are beginning to engage with providers to meet their insurance, savings and investment needs. We believe it is vital to embrace this change now and look to use the latest technology and innovative solutions to help consumers meet their needs in a way that they want. Partnering with Capgemini will help startups influence change in insurance, savings, and investment within the current InsurTech climate”.
Dawn LeBlanc, Managing Director, Hartford InsurTech Hub, adds, “We are excited to have Capgemini be part of the Hartford InsurTech Accelerator Hub to fuel enthusiasm for innovating insurance. Cooperation with entrepreneurs will contribute to transforming our industry to better meet changing customer needs and expectations.”