09/26/2022 | News

Plug and Play selects Sustema to participate in their Silicon Valley Insurtech program

Sustema is one of 24 companies out of 1000 worldwide to be selected by global innovation platform Plug and Play to join their Silicon Valley Insurtech program.

The program catalyzes technological advancement by connecting blue chip corporations with the brightest Insurtechs across the globe. Focus areas are topics of crucial relevance to the insurance industry such as data enrichment, analytics, risk assessment and underwriting tools. Corporate innovation partners include Travelers Insurance, MS & AD, Tokio Marine Group, State Farm Group, Progressive Insurance Group, Munich Re, Zurich Insurance Group and AON.

Navraj Basra, Co-founder and CTO of Sustema: «We are delighted to be part of one of the world's most successful Insuretech programs. With loss ratio gains averaging 27%, Sustema's analytics service shows that behavioural and ESG data can be used to deliver significant gains in underwriting performance. We look forward to joining with participating insurers to support them in reaching their ESG and underwriting performance goals.»

Plug and Play is the leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, they are present in 35+ locations across 5 continents. They offer corporate innovation programs and help corporate partners in every stage of their innovation journey. Their in-house VC drives innovation across multiple industries where they have invested in hundreds of successful companies including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi.