Reinsurer company Swiss Re Group is looking to launch a fintech startup accelerator in Bangalore this July, to focus on Indian startups, specifically the ones within the insurance sector, reported ET.
According to Alok Kumar, MD at Swiss Reinsurance company, 3 core themes will define the selection of fintech players. These three areas include internet of things (IoT), innovative distribution channels & robotic advisors and analytics.
“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 Swiss Re has partnered with Barclays Rise and the Alchemist Accelerator for the project, which would offer a 16-week programme aimed at mentoring startups. Apart from this, it will also partner with Nasscom 10,000 Startups and Kyron to curate startups and foster technology innovation.
The company will work with 4 to 5 startups for the first batch and will provide non-equity grant to these startups along with mentorship and business engagement. Founded in Zurich in 1863, Swiss Re Group is a provider of reinsurance, insurance and other insurance-based forms of risk transfer. Its global client base consists of insurance companies, mid-to-large-sized corporations and public sector clients.
Founded in Zurich in 1863, Swiss Re Group is a provider of reinsurance, insurance and other insurance-based forms of risk transfer. Its global client base consists of insurance companies, mid-to-large-sized corporations and public sector clients.
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