CHATTANOOGA, Tenn. -- Unum (NYSE:UNM), a market leader in providing disability, life, accident, critical illness, dental and vision insurance in the workplace, announced today it has entered a partnership with Plug and Play Insurtech, a Silicon Valley-based startup innovation platform.
The partnership connects Unum with technology startups through the Plug and Play Insurtech ecosystem to find solutions that enhance the customer experience, improve risk management and create more efficient processes.
“Through venture partnering, we have the potential to integrate new technologies and capabilities into our business at the speed and innovation that is common with startups,” said Ted Reed, vice president of business development at Unum. “Partnering with Plug and Play will help us increase our tempo of innovation and simplify and expedite processes to improve the client experience.”
Unum joins Plug and Play Insurtech’s fourth batch of companies that take part in a twelve-week accelerator program designed for the insurance industry, which will run until June 12. It brings together the world's largest insurance corporations, startups, and venture capitalists eager to embrace innovation and redefine insurance practices. The different members of the ecosystem engage through one-on-one private meetings, pitch events and networking opportunities.
“We are here to connect the best startups to the most innovative corporations. Plug and Play Insurtech brings together the largest insurers ready to establish change,” says Ali Safavi, Global Head of Plug and Play Insurtech. “We are excited to welcome Unum into our ecosystem and help them implement a new innovation strategy to better serve the insurance industry as a whole.”
To learn more about the insurance accelerator, visit Plug and Play Insurtech.
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About Unum Group
Unum Group (NYSE: UNM), an international provider of workplace benefits and services, has been helping workers and their families for 175 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, vision and stop-loss insurance; leave and absence management support and behavioral health services. In 2022, Unum reported revenues of about $12 billion and paid $8 billion in benefits. The Fortune 500 company is one of the 2023 World’s Most Ethical Companies, recognized by Ethisphere®.