Aviva Canada confirms first participants of InsurTech Growth Program
Published: April 5, 2018
Updated: July 24, 2018
Author: Luke Jones
CATEGORY: Industry News
Aviva Canada has previously discussed its ambitions for insurtech and has been among the most proactive providers in Canada in pursuing the innovation. Now, the second largest P&C company in Canada has teamed with innovation hub OneEleven to announce the first participants of its InsurTech Growth Program.
The company has selected five start-ups to be in the inaugural program. Aviva Canada and OneEleven said the selection process was exhaustive and included many applications. The following start-ups were ultimately chosen to take part in the fourth-month growth program, which will get underway immediately.
- Maple – The start-up is offering 24/7 access to online medical care and prescriptions through users’ phones, tablets, or computers. Doctors signed to the platform can treat many conditions, saving patients from having to leave their homes.
- MapYourProperty – This group has developed an intelligence platform that provides real-time real estate and land development information in just a few clicks; the platform reportedly streamlines the risk diligence process by about 50%.
- RateHub – RateHub utilizes “proprietary and external data sources with auto capture technologies” to streamline the insurance quoting process, aligning the results with relevant comparisons from insurance providers that closely match users’ insurance needs.
- Soundpays – Through its proprietary app, Soundpays uses ultrasonic sound wave technology to allow users to instantly purchase products while watching video or display advertising.
- WealthTab – The start-up aims to simplify the process of account opening, quoting, and client proposals for financial services and insurance. WealthTab does this by introducing a quick and easy way to create digital workflows.
“These five start-ups offer a wide range of solutions to the InsurTech ecosystem reaching healthcare, financial and commercial real estate services,” commented Aviva Canada head of digital and innovation Ryan Spinner. “We’re thrilled to kick-start this mentorship program together with OneEleven and have the opportunity to work with these start-ups firsthand and accelerate their innovation projects.”
This represents the latest push towards nurturing InsurTech for Aviva Canada and OneEleven. The collaboration held the first ever InsurTechCanada event in March, 2017. The “#InsurTechCanada,” event was hosted between Aviva Canada and OneEleven. It brought together auto expert, insurance leaders, start-up companies, and tech experts to share their experiences of different industries that are facing up to disruptive technology.