Standard Insurance (The Standard) has partnered with Plug and Play, a global innovation platform.
The Standard is an anchor partner on the Plug and Play Insurtech platform and is engaging directly with a select group of startups to explore and catalyze technological advancement with an eye toward driving innovation, increasing collaboration and achieving greater efficiencies.
The Standard employee benefits vice president Dan McMillan said: “Our industry is changing at a pace that we have never seen before, and the expectations of our customers and partners are increasing.
“Throughout our 112-year history, The Standard has steadfastly remained committed to meeting and exceeding customer expectations. Our partnership with Plug and Play is just one of the ways we intend to evolve our innovation efforts to benefit our customers, producers and employees.”
The Standard will be focusing on the areas of insurance and financial services, seeking to improve a range of processes that could enhance distribution, risk management and customer-facing services. Increasing efficiencies means the company can deliver enhanced value to brokers, partners and other customers.
Plug and Play Insurtech is an innovation platform bringing together corporations, startups and investors to work on improving the industry. Since Plug and Play Insurtech's inception in May 2016, they have provided a vast innovation platform more than fifty corporate partners and have made over 20 investments in Insurtech startups. Plug and Play Insurtech has recently expanded internationally to New York, Munich and Tokyo.
Source: Company Press Release