DES MOINES, Iowa (Dec. 5, 2019)—EMC Insurance Companies received the Insurtech Corporate Innovation Award from Plug and Play at its Winter Summit Tuesday in Silicon Valley. Plug and Play is a global innovation platform that connects startups and corporations.
“We are honored by this award as it speaks volumes about the culture of innovation we’ve established at EMC,” said Scott Jean, EMC Executive Vice President — Finance & Strategy. “We’re doing industry-leading work and engaging our entire organization in the journey.”
EMC launched 17 pilots or proofs of concepts in 2019. Of those, several progressed to commercial agreements. EMC has plans for more pilots and commercial agreements in 2020. Additionally, EMC invested in five companies in 2019.
The award was presented by Eugenio Gonzales, Director of Plug and Play Ventures, who said on stage, “One thing we love that EMC is doing is their Pop-Up Innovation Lab, which consists of crowdsourced team members made up of EMC employees who submit applications to participate. This cross-functional team inspires and educates employees about new technologies, explores and researches the insurance impact of emerging technologies, and helps recommend solutions for EMC and their agency partners.”
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, Plug and Play has built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, its programs have expanded worldwide to include a presence in over 25 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 300 official corporate partners, it has created the ultimate startup ecosystem in many industries. Companies in the community have raised over $7 billion in funding, with successful portfolio exits including Danger, Rappi, Dropbox, Lending Club and PayPal. For more information, visit https://www.plugandplaytechcenter.com.
EMC Insurance Companies is among the top 60 property/casualty insurance organizations in the country based on net written premium, with more than 2,400 employees. Employers Mutual Casualty Company (EMCC) was organized in 1911 to write workers’ compensation protection in Iowa. Today, operating under the trade name EMC Insurance Companies, the company provides property and casualty insurance products and services throughout the United States and writes reinsurance contracts worldwide. EMCC is licensed in all 50 states and the District of Columbia. For more information, visit emcins.com.