Swiss Re Plans 1st In­dia Fin­tech Ac­cel­er­a­tor

The Economic Times - - Disruption: Startups & Tech - Shash­wati.Shankar @times­group.com

Ben­galuru: Global rein­surer com­pany Swiss Re plans to launch a fin­tech startup ac­cel­er­a­tor in July, touted to be the coun­try’s first to fo­cus specif­i­cally on ven­tures within the in­sur­ance sec­tor. “Ap­prox­i­mately 25% of our rev­enue comes from emerg­ing busi­ness mar­kets. From an in­sur­ance tech per­spec­tive, In­dia will be a very strong fo­cus for us this year,” said Ja­son Richards, head prop­erty and ca­sual busi­ness man­age­ment at Swiss Re.

The com­pany plans on pro­vid­ing non-eq­uity based grants to the se­lected startup and will eval­u­ate early stage and ven­ture based star­tups. Ac­cord­ing to Alok Ku­mar, man­ag­ing di­rec­tor at Swiss Rein­sur­ance com­pany, three core themes will de­fine their se­lec­tion of fin­tech play­ers. From In­ter­net of Things based sen­sors and ma­chine de­vices to sys­tems of en­gage­ment, which in­clude robo ad­vi­sory sys­tems such as ar­ti­fi­cial in­tel­li­gence driven bots, and smart an­a­lyt­ics, where deep learn­ing will be lever­aged for cre­at­ing pre­dic­tive sys­tems, un­der­writ­ing claims and fraud man­age­ment.

Co plans on pro­vid­ing non-eq­uity based grants to the se­lected startup

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