Digital Fineprint, a fintech startup that uses social media to help insurers reach more consumers have just joined the 2016 batch of Allianz in-house accelerator. Allianz, the world’s largest insurance company, has selected five startups from all over the world to help it innovate in the fields of big data, analytics and the internet of things.
Digital Fineprint is the first startup coming out of Oxford University to join the accelerator, and also the first to enter the emerging insurtech market. After previously winning the prize for “Best General Startup in the UK” at the Grad Factor Awards, the company is now rapidly expanding its team and international footprint. With so many startups entering the market for innovating around traditional insurance products, securing strong partnerships becomes a key strategic advantage.
“We are extremely happy and excited to partner with Allianz to accelerate our development. The whole team at Allianz, led by Mr Sylvain Theveniaud, have been very helpful and are already working with us to develop our existing platform for use within the wider Allianz ecosystem. As we are also currently fundraising in the UK, securing this spot in the accelerator will significantly help our development and growth.” says Erik Abrahamsson, the founder of Digital Fineprint.
Within Allianz Accelerator, the startup team will work with influential VCs, insurance professionals, and senior executives within Allianz to develop product offerings and raise funding for continued growth. Previous startups in the Accelerator includes Finsquare (acquired by Lendix) and MyCoach (who just received €2.6m from BPI in its Series A).
The Accelerator will also help Digital Fineprint apply its technology to a wider range of financial products, says co-founder Sherry Ngai. “We started looking at selling life insurance online using Erik’s experience from Twitter and my own background from HSBC. With the help of Allianz, we will be able to use our proprietary social autofill technology for auto, home, income insurance and other financial products such as pensions. We can’t wait to help more consumers find the right financial product to help improve their lives!”