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Firemark

Accelerate

A Safer World for Everyone

We are surrounded by things worth protecting.

Every day we are faced with risks to our lives, our health, our property, and even our virtual presence. From injury to theft, and from accident to catastrophe, there are many dangers we must guard against.

We use our experience, ingenuity, resources and access to technology to protect what we hold dear. But what if we could shape our environment to be inherently safer?

At Firemark Accelerate, our purpose is to Make Your World a Safer Place. Our Accelerator will lay the foundation for InsurTech+: a growing segment of startups with deep technology expertise, rich data assets and innovative solutions that all have the potential to shape the future of insurance.

Firemark Accelerate is an open collaboration model between B2B startups and insurance industry leaders from Australia, New Zealand and the wider ASEAN market. It is aimed to attract startups focused on solving problems for the insurance industry in a structured Accelerator programme that is startup first and founder-friendly.

Participants will gain access to an advisory panel of digital innovation leaders across insurance businesses, a number of Corporate Venture Capitals as well as a better understanding of the industry as a whole.

ABOUT

FIREMARK

Firemark Labs is the innovation lab for IAG, Australia and New Zealand's largest general insurer. Firemark Labs is a multi-disciplinary team building next-generation products in collaboration with partners, from startups to universities, government agencies and corporations.

Firemark Ventures is IAG’s dedicated $75m corporate venture capital fund. Firemark Ventures makes strategic investments in startups that have the potential to disrupt insurance or fundamentally change the way IAG operates as a business.

CHALLENGE STATEMENT 1

DATA-DRIVEN OPPORTUNITIES

How might we improve our understanding of customers and their assets through data collection that is transparent, safe and ethical?

This might be done through increasing or enhancing our touchpoints with them and providing more value-added services, so that it is easier for customers to share or contribute quality data.

Drawing insights through data analytics, machine learning or AI helps insurers understand the customer and thus offer better service, from onboarding to renewals, and potentially in non-traditional touchpoints (for example, providing a replacement vehicle during a repair). When an adverse event has occurred, the customer naturally wishes for a faster and painless claim process. The collection and validation of data -- through digital or mobile means, as customers prefer -- are key to accelerating that process.

PROGRAMME

TIMELINE

Watch out for more details on the timeline, coming soon!

WHY YOU

SHOULD JOIN

We’re looking to make this a worthwhile experience for each participating startup. Firemark Accelerate offers startups value worth up to S$50,000!

Commercial Pathways

Get access to a large cohort of insurance leaders with potential to secure PoCs and trials.

Learning Opportunities

Learn from our expanded network of subject matter experts through technical and commercial bootcamps.

Mentoring & Support

Get mentorship and support from our Programme Partners and supporting organisations.

Potential Funding

Get a chance to pitch your idea to Firemark Ventures, investment teams from Programme Partners and leading regional VCs.

APPLICATION

REQUIREMENTS

To apply to the Firemark Labs Acceleration Programme, your startup should ideally:

Be a registered business between Seed and Series A stages of funding;
Address at least one of the challenge statements highlighted above;
Have achieved some traction with a high potential B2B solution;
Be working with rich data assets or emerging technologies such as Artificial Intelligence (AI), Computer Vision, the Internet of Things (IoT), that have the potential to help insurers better understand their customers; assets; and behaviours. This could mean your startup is operating in an adjacent industry with potential applications to insurance e.g. Mobility, Prop-Tech, Ag-Tech or Cybersecurity.

Above all, we’re looking for strong, motivated startups that share our vision to Make Your World a Safer Place.