Multinational professional services and business consulting corporation Capgemini announced on 18 March that it had joined the Hartford InsurTech Hub. Powered by Startupbootcamp, this Connecticut-based initiative was established in 2017 by Hartford insurance companies and focuses on advancing the insurance industry’s innovation goals by attracting new technologies and talent in insurance and technology.
The Hartford InsurTech Hub began operations in January 2018, welcoming 10 teams from five countries. These provided a range of insurance solutions using artificial intelligence (AI), big data analytics and natural language processing combined with cybersecurity, smart homes and health insurance.
CEO of Startupbootcamp InsurTech Sabine VanderLinden said: “We see a big shift in the way in which consumers and corporates are beginning to engage with providers to meet their insurance, savings and investment needs. We believe it is vital to embrace this change now and look to use the latest technology and innovative solutions to help consumers meet their needs in a way that they want.” Of the latest partnership, she added: “Partnering with Capgemini will help startups influence change in insurance, savings and investment within the current insurtech climate.”
Capgemini has worked with other Startupbootcamp ventures, most notably in the Netherlands with fintechs, during its 18-month relationship. Shane Cassidy, Managing Director of Capgemini’s Insurance Business Unit, said: “With more than 100 insurers headquartered in Connecticut, there is a great opportunity to spark innovation through collaborative transformation with insurtechs.” He added that he felt the Hartford Insurance Hub was a unique forum, ‘bringing everyone together to foster development of the next generation of insurance by turning ideas into reality’: “It’s more than just talking about innovation, it is teaming to innovate.”
Dawn LeBlanc, Managing Director of Hartford InsurTech Hub, also commented: “We are excited to have Capgemini be part of the Hartford InsurTech Accelerator Hub to fuel enthusiasm for innovating insurance. Co-operation with entrepreneurs will contribute to transforming our industry to better meet changing customer needs and expectations.”
The 2019 Top 10 startups are currently being welcomed into the hub.