Foyer joins the Plug and Play innovation platform as first Luxembourg’s partner. Foyer is well experienced in innovation, and trusts that the partnership with Plug and Play will lead the innovation activities to the next level. “If the ecosystem of innovationis rich in Luxembourg, it is not immense, and in insurance, we often end up finding the same startups. The wealth of Plug and Play’s portfolio of startups, particularly in insurtechs, was therefore relevant for us.” – Marc Hotton, Innovation Coordination Officer at Foyer.

The collaboration with an international platform like Plug and Play complements the existing innovation effort and partnerships with local ecosystems favourably. Although Foyer is already well advanced in terms of innovation and structuring the innovation activities, Plug and Play will support scouting startups and helping Foyer to detect relevant innovations for the Group.

Being the home of some of the largest corporations in the world and having Europe’s most vibrant startup scenes, Plug and Play’s Munich and Paris platforms are ideal places to bundle the startup scouting, initiate pilots, POCs, as well as new relationships between startups and Plug and Play’s global ecosystem. The insurtech platforms help Plug and Play’s corporate partners, a.o. Generali or RheinLand Versicherungsgruppe, to identify and address their key business challenges through tailored startup dealflows, themed innovation workshops, and face-to-face interaction.

Through a partnership with Plug and Play, Foyer aims to identify the world’s best technologies in the insurance space. This, in turn, is linked with the company’s aspiration to create added value for its policyholders and clients, by implementing innovative solutions across the company.

About Plug and Play

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 36 locations globally, giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 35,000 startups and 500 official corporate partners, we have created the ultimate startup ecosystem in many industries. Companies in our community have raised over $9 billion in funding, with successful portfolio exits including Dropbox, Guardant Health, Honey, Lending Club, and PayPal. For more information, visit https://www.plugandplaytechcenter.com/ or email us at insurtech-munich@pnptc.com.