A Silicon Valley innovation platform that connects technology startups, corporations and investors has recognized Munich Re, US for leadership in the insurtech space. The high-tech incubator and mentoring group known as Plug and Play also cited Robert Mozeika, innovation executive with Munich Re’s Reinsurance Division, for his role in working with insurance technology startups.
Plug and Play presented Munich Re and Mozeika with one of 10 Corporate Innovation Awards to those it calls its “most engaged partners” in various accelerators that in addition to insurtech include fintech, health and wellness, food and beverage, mobility, new materials and packaging, brand and retail, travel and hospitality, and Internet of Things (IoT).
“We want to appreciate the corporations that have put in the best effort, meaning they are present and engage with startups. They might even invest in the startups but, most importantly, they are in the community to give back. If a startup is going in the wrong direction, they mentor them, consult them, and this is why they earned the award,” said Saeed Amidi, founder and CEO of Plug and Play.
This is the first year Plug and Play has recognized its partners with the award. The organization is based in Sunnyvale, Calif. and has 22 locations around the world.
“We are honored to be recognized as a leader in insurtech,” said Munich Re’s Mozeika. “The ability to connect our company and our clients with new products and services developed by Plug and Play’s cadre of insurtech startups is a perfect opportunity for knowledge and growth in this rapidly changing environment. At the same time, this cooperation deepens Munich Re’s position as the go-to resource for our clients as we jointly seek to understand, navigate and profit from changes driven by innovation and digitization.”
Some of the insurtechs Munich Re has invested in and/or partnered with include Trov, Lemonade, Root, Next, Slice, Bunker, Bought By Many and Helium.
From 2008 to 2014, Mozeika was head of Financial and Strategic Management and Underwriting Operations in the Reinsurance Division of Munich Re, US.
In January 2015, he started serving as “innoscout” or innovation scout for Munich Re, US. Based in Silicon Valley, he was responsible for partnering with technology companies to enhance the company’s business processes for developing new products and exploring new business models.
In January of this year he assumed a new role as innovation executive. In this capacity, Mozeika works with Munich Re, US’s client management team to match reinsurance clients with new products developed be insurtechs that address specific client needs. The company expects that this work will also unearth business opportunities as its clients increasingly pursue insurtech alternatives.
Plug and Play supports more than 6,000 startups and 180 official corporate partners. It provides investments with 200 leading Silicon Valley venture capital firms. Companies in its community have raised $6 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound and Zoosk.