Partnership marks a first for Canadian insurers
Toronto, ON (July 27, 2016) – Sun Life Financial is making digital waves as the first Canadian insurance company to partner with Plug and Play Tech Center, a U.S.-based global technology accelerator that connects top start-ups from around the world to corporations and investors. This new arrangement will help position Sun Life Financial at the helm of insurance industry innovation and closely follows a partnership struck with MaRS Discovery District, one of North America’s largest urban innovation hubs.
“At Sun Life, we know there is so much more we can do for our Clients in a digitally-driven world,” said Dean Connor, President and Chief Executive Officer, Sun Life Financial. “Inserting ourselves into the stream with Plug and Play will help us experiment, and will speed up the delivery of cutting-edge solutions for Clients.”
Plug and Play runs 12 week industry-specific programs throughout the year and connects a select group of start-ups from around the world with its corporate partners. As part of the insurance vertical program, Sun Life Financial, along with other financial institutions, will work with start-ups by providing mentorship and business development support to help them develop a working prototype. At the end of the 12 week program, the start-ups pitch their ideas to investors and insurance executives at Plug and Play’s EXPO.
“This program is geared to help companies elevate the way they approach their business, creating opportunities that can define their sector,” said Saeed Amidi, Chief Executive Officer and Founder, Plug and Play. “We are thrilled to be working with Sun Life, a forward-thinking, innovation-focused organziation. We look forward to seeing the amazing outcomes from this 12 week program.”
Sun Life Financial will be focusing on the areas of Insurance, Health, IoT (Internet of Things), Media & Mobile and Fintech & Security, with leaders from different streams participating. The program is slated to begin at the end of August.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth products and services to individuals and corporate customers. Sun Life Financial has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2016, the Sun Life Financial group of companies had total assets under management of $861 billion. For more information please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
About Plug and Play Tech Center
Plug and Play Tech Center is the world’s largest global technology accelerator and venture fund. Since inception in 2006, the program has expanded worldwide to include entrepreneurs from 24 countries, providing necessary resources to succeed in Silicon Valley. With over 350 start-ups and 300 corporate partners – it is the ultimate start-up ecosystem. Plug and Play provides active investments with 180 leading Silicon Valley venture capitalists, and more than 365 networking events per year. Companies in the community have raised over $3.5 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information visit www.plugandplaytechcenter.com.
Source: Sun Life Financial Inc.