Baloise is entering into a partnership with Plug and Play, a California-based business accelerator. This will expand its portfolio of strategic partnerships focused on innovation, adding to its existing collaborations with the Swiss Fintech Accelerator and Incubator F10 in Zurich. Baloise is thereby doing its utmost to meet the growing needs of the entire Group in all relevant strategic development fields. Plug and Play runs a global innovation platform featuring a large number of startups that specialise in Baloise's target segments. Many of these startups’ activities mesh with Baloise’s ecosystems of ‘Home’ and ‘Mobility’. This collaboration gives Baloise access to a global innovation platform based in the tech hub of Silicon Valley. Above all, it will enable Baloise to build promising relationships with non-insurance startups, learn from other sectors and target specific interest groups. Moreover, Plug and Play has a large network of corporate partners that are in close and constant contact with one another.
“We are delighted about our new partnership with Plug and Play, which will help us to expand our ecosystem network. Plug and Play is offering us the chance to connect with new partners that are outside our core insurance business,” says Sibylle Fischer, Manager of Strategic Venturing & Startup Scouting at Baloise. “We are truly honoured to work with a major European carrier that already embeds startups into its strategy, and are incredibly excited to see what we can accomplish together by bridging the gap between innovation ecosystems in Europe and around the globe”, adds Robert Pechholz, Corporate Partnerships Manager Insurtech at Plug & Play.
About Plug and Play
Plug and Play is the world’s biggest innovation platform and the most active venture capital operation in Silicon Valley. Every year, it runs more than 50 accelerator programmes globally and gives big business access to the latest innovations. Since it was founded in 2006, Plug and Play has provided its accelerator services to more than 2,000 companies. In 2018, via its venture capital arm, Plug and Play Ventures, it invested in 222 startups (72% in the US and 28% internationally) and now has more than 1,000 portfolio companies. Notable success stories in its portfolio include PayPal and Dropbox.
The Baloise Group is more than just a traditional insurance company. The changing security, safety and service needs of society in the digital age lie at the heart of its business activities. The 7,700 or so employees of Baloise therefore focus on the wishes of their customers. The best possible customer service, combined with innovative products and services, makes Baloise the first choice for people who want to feel ‘simply safe’. Located at the heart of Europe, with its head office in Basel, the Baloise Group is a provider of prevention, pension, assistance and insurance solutions. Its core markets are Switzerland, Germany, Belgium and Luxembourg. In Switzerland, with Baloise Bank SoBa, the Group also operates as a specialised financial services provider, offering a combination of insurance and banking services. The Group offers innovative pension products to retail customers throughout Europe from its competence centre in Luxembourg. Bâloise Holding Ltd shares are listed in the main segment of the SIX Swiss Exchange.