LONDON, March 29, 2018 – global innovation platform, Plug and Play, has selected Fing’s cybersecurity insurtech solutions as one of the 16 startups showcasing at Insurtech Europe’s Inaugural Batch this summer. The 16 startups chosen have been carefully selected out of hundreds of applicants. They represent varied insurance areas from end distribution to claims handling and all the important processes in the middle.
“Plug and Play has been working with startups for 12 years and is active in over 20 locations globally. Our goal is to match startups to corporations based on their interests to create mutually beneficial partnerships that embody the Plug and Play spirit of open innovation,” says Saeed Amidi, Founder and CEO of Plug and Play. “We are excited to introduce these companies into our ecosystem in Munich and help them grow.”
Fing will be given the opportunity to meet and discuss pilot opportunities with their cybersecurity insurtech solutions with Plug and Play’s trusted partners, including Allianz, Munich Re, Talanx, Versicherungskammer Bayern and Swiss Re.
Head of Business Development for Fing, Patrizia Cozzoli, said “the Insurance industry is an exciting place to be right now. Historically Insurers have always struggled to engage with their customers and show the value of their services, but now the biggest names in the industry are turning to modern technology to change the game. It is very exciting for Fing’s cybersecurity insurtech solutions to be a part of that.”
After insurance heavy-weight, Allianz, recently released a study reporting cybercrime as the second biggest threat to businesses, it’s no wonder Insurers are looking to introduce cybersecurity policies to their existing services.
Fing’s cybersecurity device, Fingbox, recently raised over $1.7 million on Indiegogo through the support of 20,000 backers, demonstrating further that cybersecurity is at the forefront of many people’s minds.
“We are no longer living in a time in which we can turn a blind eye to cybercrime. Both home and business owners want better visibility and control over their network” says Cozzoli. “Through the use of Fing’s cybersecurity insurtech solutions, Insurers can start to provide cyber policies that not only assist in the aftermath of an attack, but also help in the prevention of it. These sorts of policies will create less risk for the customer and the Insurer, creating a happier experience on both sides.”
Plug and Play is a Silicon Valley Innovation Platform. It launched Plug and Play Insurtech Munich on November 14, 2017 with the aim to bring new insurtech solutions and innovation to the heart of Europe. Fing and the other 15 startups will graduate on June 26th at Plug and Play Insurtech's First Expo Day in Europe. For more information on the program and Plug and Play Insurtech, visit pnptc.com/insurtech.
Founded in 2009, Fing develops network scanning, network security and Wi-Fi troubleshooting tools built for the Internet of Things. With more than 22 million downloads and over 1 million network scans performed a day, the free Fing app for iOS and Android is the no.1 network scanner. Fing’s cybersecurity toolkit, Fingbox, is an award winning (CES2018) powerful device for home network security and Wi-Fi troubleshooting. Fingbox secures your home network with features like Device Blocking, Hacker Threat Check, Digital Fence and more. Fing also offers FingKit – an SDK that allows Developers to add Fing’s powerful device scanning and recognition engine to their existing hardware, service or app. FingKit includes SDKs for mobile and embedded devices and cloud-based device recognition services. Comprised of experts in software development, computer networking, UX/UI design and marketing, Fing has employees in offices based in Dublin, London, Rome and Sydney. For more information visit www.fing.com/business
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, they 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, their programs have expanded worldwide to include a presence in 21 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, they have created the ultimate startup ecosystem in many industries. They provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in their community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, LendingClub, PayPal, SoundHound, and Zoosk. Established in 2016, Plug and Play Insurtech is one of Plug and Play's largest industry-specific programs with 5 locations around the globe. The program currently has over 65 corporate participants including Farmers Insurance, Allianz, Nationwide, SOMPO Digital Lab, and Travelers, and has worked with hundreds of international Insurtech startups to date. For more information, visit http://plugandplaytechcenter.com/insurance/