Relationship builds on existing fintech partnership

IDC cover wide

PwC’s UK insurance practice has teamed up with technology accelerator Startupbootcamp to develop new tech for the insurance industry.

The partnership builds on an existing relationship between the corporate services giant and Startupbootcamp developing fintech for the broader financial services industry.

PwC said the startup companies focus on areas of insurance including retail, corporate risk management, re-insurance, back-office efficiency and risk models.

Startupbootcamp provides the startups with seed funding, mentoring, access to partners and investors.

“The insurance industry is undergoing considerable upheaval, with digital advancements and the possibilities offered by ‘Big Data’ analytics becoming impossible to ignore,” said Jonathan Howe, PwC’s UK insurance leader.

“Executives are increasingly looking towards startup innovation to help navigate a market filled with opportunities as well as threats.”

IDC 2016