The Malta Independent 24 September 2020, Thursday

Mapfre launches its third call for start-ups to jointly develop innovative solutions in less than six months

Tuesday, 15 September 2020, 10:41 Last update: about 9 days ago

Insur_space by Mapfre has launched a new call to attract initiatives from around the world that want to grow in the insurance market. The third edition of this call for start-ups is aimed at companies in the early stage or growth phase that already have a product in the insurance market and want to scale or want to enter the sector through an alliance.

Insur_space offers start-ups the possibility of launching a pilot in less than six months with any Mapfre unit around the world, including the Group's digital brands - Verti, InsureandGo and Savia. Unlike most programmes aimed at entrepreneurs, Insur_space offers up to €100,000 of financing without entering the shareholding of start-ups.


This particular call focuses on three verticals: the aging population (to address challenges such as dependency, social isolation or home care); proactive health and well-being (promoting healthy habits and improving the lives of both healthy people and those suffering illnesses) and risk, damage and claims management (for any business line in the insurance market).

Joan Cuscó, director of Insur_space, summarizes the purpose of the programme in one sentence: "Together we can go further. The collaboration between start-ups and large companies is an opportunity that neither party can miss. We position ourselves as the benchmark programme in the insurance sector, reducing processes to weeks that in other conditions take several months. After two years and 22 pilots launched on the market, we know perfectly what we should contribute and what we can expect in return," he adds.

The start-ups participating in the programme have access to Mapfre's 26 million clients and almost 80,000 agents and brokers worldwide, as well as historical data (conveniently anonymised in compliance with current legislation). In addition to €100,000 to cover the costs of the pilot, start-ups can opt for financing from Alma Mundi Ventures Insurtech, a fund participated by Mapfre.


Mapfre Open Innovation

The insur_space programme is part of Mapfre Open Innovation, the company's strategic commitment to drive customer-focused transformation through partnerships and the use of emerging technologies that create a positive impact on business and society. Led by the Group chief Innovation officer, José Antonio Arias, Mapfre Open Innovation is a global model with teams in different entities and countries where the Group has a presence. All Mapfre Open Innovation initiatives operate under a single indicator: how many clients benefit from our innovations.

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