CO.LAB, Unum focusing on digital
Starting this month, Chattanooga-based insurance giant Unum and startup accelerator The Company Lab are partnering to bring more digital innovation to health care.
In a statement this week, officials from both companies said they will work together to bring more entrepreneurial thinking and advanced problem solving to the health and wellness sectors both inside and outside of Chattanooga.
As part of the collaboration, Unum will provide funding and experts to CO.LAB while the nonprofit will connect entrepreneurs and technology talent to Unum officials. CO.LAB CEO Marcus Shaw said Unum has established itself as a leader in the insurance market in the city.
“We are excited to kick off a partnership that will offer real-world insight into the challenges industry leaders encounter and explore how startups can provide unique solutions,” Shaw said. “This partnership illustrates how corporate and entrepreneurial ecosystems can work together to foster digital innovation and accelerate results.”
The CO.LAB accelerator launched in 2010 to strengthen the entrepreneurial environment in southeast Tennessee, and Unum is a leading provider
of employee benefits and one of the area’s largest employers.
On Friday, Unum officials said the company believes there is “tremendous value” in blending startup communities with the resources of larger corporations.
Puneet Bhasin, chief information and digital officer for Unum, said the company is focused on technology that will make the benefits experience easier for customers.
A recent example of this is Unum’s purchase of LeaveLogic, a Seattlebased software company that provides a central dashboard for employees to manage parental leave plans. Bhasin said the platform streamlines the parental or disability leave experience for employees and employers.
Bhasin said that by engaging entrepreneurs, Unum can identify solutions and use innovation to integrate new technologies and capabilities.
“As a major employer in the region, the CO.LAB partnership also connects us with a pipeline of talented individuals to grow our workforce while giving back to the community where we live and work,” he said.