In 2018, seven key players in the mutual insurance industry (Groupama, MACIF, Smacl, MAIF, Groupe P&V, Mutuelle de Poitiers Assurance and MAAF COVEA), an assistance provider (IMA) as well as Medef 79 and the Agglomération de Niortais decided to join forces around common goals.
Their objective was two-fold: to devise new solutions for insurance of the future and boost development in the Niort region.
Thus the French Assurtech brand was born. From its early days, it partnered with an insurtech accelerator run by Startup Palace to identify the best insurtech startups—ready to reinvent the future of insurance in collaboration with partner mutual insurance companies—and to manage and coordinate the entire acceleration program.
In three years, 240 European insurtech and fintech startups applied to join the French Assurtech accelerator for an opportunity to work with the biggest mutual insurance companies in France. From among these candidates, 21 startups were ultimately selected for French Assurtech. They include: MySofie, Testamento, Akur8, MyJugaad and AfterData.
In early 2021, French Assurtech is going one step further by setting out a clear objective: to become a comprehensive solution for mutual insurance companies based on four founding principles. In operational terms, these principles are represented by four key actions:
French Assurtech will go from a simple accelerator (recognised among its peers and within the ecosystem) to serving as a global innovation tool with four complementary pillars: a startup accelerator (French Assurtech Accelerator), a campus dedicated to acclimatise and train employees of mutual insurance companies (French Assurtech Campus), an experimental laboratory to explore new territories yet to be covered by the accelerator (French Assurtech XP Lab), and a service to facilitate access to financing for the accelerator's startups (French Assurtech Financing) and finally an event-related service (stay tuned for more information...).