Insurance giant Aviva and financial services company Singlife have launched a new accelerator programme to support the growth of InsurTech startups in Singapore.
The programme, Singlife Connect, is aimed at developing scalable market solutions that innovate and transform insurance distribution. Singlife stated it will leverage its expertise to provide opportunities for InsurTech-specifictechnical integration to create growth opportunities for the InsurTech ecosystem.
Successful applicants to the InsurTech accelerator will gain access to Singlife’s product suite and insurance verticals, as well as personalised mentorship. It hopes this will enable them to accelerate their customer discovery.
The programme will also provide applicants with regulatory and compliance support to effectively execute their go-to-market strategies.
Eight companies will join the first cohort and it is open to companies with a foothold in Singapore.
Singlife and Aviva hope to grow the operating model so it can support startups with more complex needs in the future.
Speaking on the new InsurTech accelerator, Singlife group head, digital and ecosystems Varun Mittal said, “Customers are evolving and InsurTechs have to enhance their offerings. Through strategic partnerships with InsurTech startups, we hope that Singlife Connect will provide the right tools and platforms for InsurTechs to grow with confidence and serve their customers with optimum impact.”
Earlier in the year, Aviva partnered with technology provider Codat and specialist insurance broker Capsule to ensure high-growth businesses have the right level of cover in place.
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