Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, today announced an international InsurTech partnership with Plug and Play, a global innovation platform. This agreement expands upon the two companies existing partnership by extending Willis Towers Watson’s access to early stage InsurTech start-ups across all of Plug and Play’s InsurTech platforms, which include Beijing, Munich, New York, Silicon Valley, Singapore and Tokyo. As part of the agreement, Willis Towers Watson will assist in qualifying, mentoring and collaborating with InsurTech start-ups in Plug and Play’s global ecosystem.
“We’re very excited about this partnership and believe it demonstrates our commitment in bringing the newest and most innovative technology – both our own solutions and offerings from the world’s leading tech centers – to our clients,” said Carl Hess, head of Investment Risk and Reinsurance, Willis Towers Watson. “It also accelerates our ability to advise clients on start-up-driven innovation and create greater value for them and the insurance industry.”
“We’re thrilled to expand our relationship with Willis Towers Watson to a global level, making them one of our largest and most engaged partners in InsurTech,” said Saeed Amidi, CEO, Plug and Play. “Their commitment to sourcing innovation for clients has made them one of the most visible partners on the Plug and Play platform. This global partnership between two very powerful brands will strengthen our collective efforts to source innovative InsurTech solutions from around the world. We look forward to much success between our two organizations as we continue to engage with the global start-up community.”
Willis Towers Watson and Plug and Play also partner on innovation platforms across health and wellness, as well as Enterprise 2.0, which focuses on transforming management structures, company culture and how work gets organized.
“We believe better ideas come through collaboration inside and outside our company,” said Todd Jones, head of Corporate Risk and Broking, Willis Towers Watson. “We have already had great success in partnering with emerging firms for the benefit of our clients and look forward to expanding those opportunities through this relationship to enhance the client experience we deliver and help transform the insurance industry more broadly.”
About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, the company has built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, its programs have expanded worldwide to include a presence in 28 locations globally, giving start-ups the necessary resources to succeed in Silicon Valley and beyond.
With over 6,000 start-ups and 220 official corporate partners, Plug and Play has created the ultimate start-up ecosystem in many industries and provides active investments with 200 leading Silicon Valley VCs, and hosts more than 700 networking events per year. Companies in its community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound and Zoosk. For more information, visit www.plugandplaytechcenter.com.