APAC Issue 8 2018

24 APAC / Issue 8 2018 , For over 100 years, MSIG has been Asia’s leading general insurer with an extensive network in Asia – representation in every ASEAN country, Hong Kong, as well as Australia & New Zealand. MSIG Insurance recently announced that it has entered into a strategic partnership with Plug and Play, a global start up accelerator and corporate innovation platform, to promote innovation within the general insurance space. MSIG Insurance will become a founding anchor partner of Plug and Play’s Insurtech platform in Singapore. This partnership will allow MSIG to build mutually beneficial relationships with start- ups that are developing exciting new technologies and solutions in the general insurance sector. The partnership will complement MSIG’s digital transformation journey, which is focused on building digital products and services for customers, improving operational efficiencies and encouraging a robust innovation culture in the region. “Customers’ expectations of insurance are changing as technology plays a more important role in their day-to-day lives. Our partnership with Plug and Play is one of the ways for us to stay on top of this change and explore ways to serve our Promoting Innovation Through Start-ups MSIG Insurance partners with Plug and Play to Promote Innovation through start-ups customers and partners better,” said Philip Kent, Executive Vice President, Planning and Chairman, Digital Taskforce Asia. Plug and Play has recently launched a Fintech and Insurtech innovation platform in Singapore. The primary objectives of this innovation platform are to invest in and help local and international Fintech and Insurtech start-ups grow through connecting them to major financial institutions and insurers. By introducing and facilitating connections to their global start up ecosystem, Plug and Play plans to spearhead corporate innovation and transformation for its corporate partners. “Based on the success of our stage-agnostic and multi- corporate innovation platforms in Silicon Valley, California, we are excited to extend this model to Singapore, providing proximity to many of our existing and prospective corporate partners in the financial and insurance sectors. In the last few months, we launched our Fintech and Insurtech platform and have engaged with several leading financial and insurance institutions. Partnering with MSIG Insurance is a great start to our journey and we look forward to connecting them to our global start up ecosystem,” said Jupe Tan, Managing Partner, Plug and Play Asia Pacific.