Plug and Play provides Unum access to startups and Silicon Valley
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
Unum
(NYSE:UNM), a market leader in providing disability, life, accident,
critical illness, dental and vision insurance in the workplace,
announced today it has entered a partnership with Plug and Play
Insurtech, a Silicon Valley-based startup innovation platform.
The partnership connects Unum with technology startups through the Plug
and Play Insurtech ecosystem to find solutions that enhance the customer
experience, improve risk management and create more efficient processes.
“Through venture partnering, we have the potential to integrate new
technologies and capabilities into our business at the speed and
innovation that is common with startups,” said Ted Reed, vice president
of business development at Unum. “Partnering with Plug and Play will
help us increase our tempo of innovation and simplify and expedite
processes to improve the client experience.”
Unum joins Plug and Play Insurtech’s fourth batch of companies that take
part in a twelve-week accelerator program designed for the insurance
industry, which will run until June 12. It brings together the world's
largest insurance corporations, startups, and venture capitalists eager
to embrace innovation and redefine insurance practices. The different
members of the ecosystem engage through one-on-one private meetings,
pitch events and networking opportunities.
“We are here to connect the best startups to the most innovative
corporations. Plug and Play Insurtech brings together the largest
insurers ready to establish change,” says Ali Safavi, Global Head of
Plug and Play Insurtech. “We are excited to welcome Unum into our
ecosystem and help them implement a new innovation strategy to better
serve the insurance industry as a whole.”
To learn more about the insurance accelerator, visit Plug
and Play Insurtech.
ABOUT UNUM
Unum
is a leading provider of financial protection benefits in the United
States and the United Kingdom. Its primary businesses are Unum US,
Colonial Life, and Unum UK. Unum’s portfolio includes disability, life,
accident and critical illness, dental and vision coverage, which help
protect millions of working people and their families in the event of an
illness or injury. Unum also provides stop-loss coverage to help
self-insured employers protect against unanticipated medical costs. The
company reported revenues of $11.3 billion in 2017, and provided $6.9
billion in benefits.
For more information visit us at www.unum.com
or connect with us on Facebook,
Twitter
and LinkedIn.
ABOUT PLUG AND PLAY
Plug and Play is a global innovation platform. Headquartered in Silicon
Valley, we have built accelerator programs, corporate innovation
services, and an in-house VC to make technological advancement progress
faster than ever before. Since inception in 2006, our programs have
expanded worldwide to include a presence in 28 locations globally giving
startups the necessary resources to succeed in Silicon Valley and
beyond. With over 6,000 startups and 220 official corporate partners, we
have created the ultimate startup ecosystem in many industries. We
provide active investments with 200 leading Silicon Valley VCs, and host
more than 700 networking events per year. Companies in our 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.pnptc.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180403006388/en/
Unum
Kelly Spencer, 423-294-4508
Kspencer2@unum.com
Source: Unum