MS&AD Insurance Group Partners with Leading Global Innovator, SOSA, and Leading Insurtech VC, FinTLV Venture Capital, to Accelerate Technological Advancement Within the Insurance IndustryPosted May 28, 2019
Global Innovation Platform and Japan’s Largest Insurance Provider Join Together to Advance Collaboration Amongst the Insurance Industry and Technology Ecosystems Worldwide
SOSA, the leading global innovation platform that connects international organizations to innovative technology, and FinTLV, the leading insurtech VC in Israel, has announced today its partnership with MS&AD Insurance Group, Japan’s largest insurance and financial services provider. The collaboration will align one of the insurance industry’s key global players with top innovation ecosystems in the world.
“The insurance industry is primed for innovation,” said Uzi Scheffer, SOSA CEO. “As new technology is introduced and weaved into our daily lives, insurance providers are looking for ways to quickly adapt and align to meet customers’ shifting needs. It is a privilege to work with one of the largest global insurance companies, and connect companies on a global scale.”
“MS&AD is a unique global insurance group,” said Gil Arazi, Managing Partner at FinTLV. “Our global insurance expertise, combined with our ability to build new insurance products and pivot technologies into new insurance use cases, will enable us to provide MS&AD with the best solutions for their needs, while gaining unique investment and co-investment opportunities as a VC. We are honored to be chosen by one of the global insurance leaders as their partner.”
As the most in demand connector, bridging the world’s technology hubs to drive global innovation, SOSA and FinTLV will connect MS&AD with its network of 150 multinational corporations and investors, and more than 10,000 startups. SOSA and FinTLV will enable MS&AD to achieve bottom-line results on its innovation investments by developing new insurance products, applying multi-vertical technologies to insurance use cases and implementing differentiating solutions.
“We’re excited to connect with the new faces of innovation around the world, thanks to the exposure that SOSA and FinTLV’s extensive networks offer,” says Satoru Shiono, Head of Innovation Office at MS&AD Insurance Group Holdings. “The insurance industry as a whole acknowledges that old standards and applications are no longer adequate solutions for today’s world. This partnership is designed to ensure MS&AD is pushing forward, developing and implementing new technologies that will support businesses and consumers in today’s society and in the future.”
As new tech-driven demands continue to progress, SOSA plays an integral role in connecting corporations, governments and cities around the world to the tools required to break new ground. By partnering with SOSA, companies within virtually any vertical are able to discover new growth opportunities and exceed customer expectations.
“The strong partnership and collaboration between SOSA and FinTLV, has proven results”, said Gil Arazi. “With the support of SOSA and FinTLV’s joint innovation network, we expect to see massive strides in the global insurance market, led by MS&AD.”
To learn more about SOSA or to join its extensive global network of corporations, startups and investors, please visit https://sosa.co/.
ABOUT MS&AD: MS&AD Insurance Group Holdings, Inc. is the insurance holding company of the new Group formed in April 2010 through the merger of Aioi Insurance Co., Ltd., Nissay Dowa General Insurance Co., Ltd., and Mitsui Sumitomo Insurance Group. The purpose of MS&AD insurance Group is to achieve sustainable growth and to enhance enterprise value through the creation of a world-class insurance and financial services group that operates globally, by rapidly and significantly improving quality and expanding its operating presence and corporate resources.
Learn more at https://www.ms-ad-hd.com/en/index.html
ABOUT SOSA: SOSA, a global innovation platform with centers in Tel Aviv and New York, serves as an ecosystem partner that connects corporations, governments and cities to the most innovative technologies. SOSA's innovation network provides access to more than 10,000 start-ups, 150 investors, venture-capital funds and international corporations, including Jefferies, Munich Re, HP, E.ON and more. SOSA was founded in 2014 by a group of prominent Israeli investors and entrepreneurs, in order to create a unique place for the technological innovation industry, aimed to promote joint business activities. Each year, SOSA generates dozens of POCs and enables thousands of business interactions among its members.
ABOUT FinTLV: FinTLV is the first Insurtech Venture Capital Fund in Israel, aiming to provide industry expertise and financial investment to trailblazing startups developing innovative, new-age insurance and financial technology. FinTLV is a Proactive Venture Capital, which develops new insurance products to its global partners. FinTLV is venturing new insurtech solutions and running dozens of pilots globally with Re-Insurers and Insurers and is backed by leading insurance companies as LP’s.
Learn more at http://fintlv.com/