BMW’s Innovation Lab is the first fintech accelerator for the automotive sector
BMW Group Financial Services has chosen insurtech start-up Wrisk to join its Innovation Lab accelerator programme.
Wrisk targets millennials and when launched will offer motor, travel and home cover as one package that is tied to a person rather than their possessions.
Wrisk chief executive Nigel Barton told Insurance Times: “We are currently working to shape the Wrisk proposition across all the sectors we are looking to serve before properly launching, so having access to a global brand of BMW’s status is a fantastic opportunity to specifically accelerate our automotive thinking.”
The BMW accelerator programme will launch on 3 October and run for ten weeks out of the BMW Group Financial Services head offices in Farnborough, Hampshire.
BMW Group Financial Services chief executive Mike Dennett said: “Despite being vital for many drivers to access vehicles, the auto-finance sector has failed to innovate in the same way that most other areas of the automotive industry have in recent years. Our industry is ripe for disruption.”
Start-ups Divido, UKVehicle.com, Drover and Warwick Analytics have also been chosen for the accelerator programme.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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