Silicon Valley Insurance Accelerator (SVIA) has launched its Innovation Lab, offering expertise and resources to accelerate development of InsurTech products, services and industry initiatives needed to build a digital generation of insurance.

The Innovation Lab is available to insurance companies, InsurTech startups and established solution providers through SVIA’s Membership program, which provides participants access to the lab and to SVIA’s knowledge, events, activities and innovation ecosystem.

SVIA’s Innovation Lab can fast-track projects from simple proof of concepts to complete products and companies. Its services include concept development and validation, design, hosting and outsourced business processes. Innovation Lab projects are evaluated and managed by SVIA and undertaken by SVIA-certified partners. SVIA and its partners will leverage their knowledge, best practices, connections and resources to help members reduce the time, cost and risk of bringing high-value InsurTech-enabled projects to market.

The Innovation Lab will also host Innovation Bootcamps designed to bring new technologies and services providers together with companies interested in exploring and potentially piloting InsurTech efforts for proof of concept and product development. Technology areas of focus will include artificial intelligence (AI), machine to machine (M2M), blockchain and robotics.

“The Lab offers an outstanding opportunity for those companies interested in exploring InsurTech to do so without the high risk, cost, time and skill commitment involved in establishing their own in-house InsurTech lab,” said Mike Connor, CEO of SVIA. “With our founding partners offering participating members access to their outstanding resources and vast experience, the Lab enables the insurance community to truly join forces to help our industry as a whole define and drive the next generation of insurance: the digital generation.”

Source: Silicon Valley Insurance Accelerator

Topics InsurTech Tech