Santalucía IMPULSA at Innsomnia's Open Insurtech Hub

The accelerator Innsomnia has recently launched an innovation “hub” with insurers and startups, the “Open Insurtech Hub”, which will involve the participation of several partners: Santalucía insurance, IT GROWS, Howden Iberia And Informa D&B and Logalty.

What is Innsomnia's Open Insurtech Hub?

The presentation of the call took place on December 19, at the coworking center of Utopicus. It's a Open call for technology-based companies willing to innovate in the field of insurance or finance. That is to say, Innsomnia Are you looking for Insurtech startups willing to innovate and digitizing the insurance industry, providing new business models. On this great occasion, renowned figures from the sector participated: Salvador Marín, CEO of Howden; Carlos Lorenzo Romero, General Business Director of Santalucía, Mariano Arnáiz, General Director of Systems, Organization and Operations; and Carlos Fernández Íñigo, Deputy General Director of Informa and Vice President of Logalty. Also participating were Francisco Estevan and Rafael Navarro, founding partners of Innsomnia, and more than 50 startups that didn't want to miss this event with innovation.

Innsomnia's partners

Each of the partners participating in this challenge develops their own initiative independently, thus avoiding competing with each other in the selection of startups and working with them, while maintaining the main one advantage of working with a pool of collaborators: the possibility of access to a larger number of Insurtech.

The challenges of partners

Among the different challenges that participating companies will face, the insurance company stands out. Santalucía insurance, which has launched the III Edition of its Acceleration and Incubation Program for Santalucía IMPULSA, whose call opened on December 19, coinciding with the presentation of the Open Insurtech Hub. The program seeks entrepreneurs and startups with the Minimum Viable Product, with less than 5 years of incorporation and who have a vocation for growth, scalability and an international vision, but, above all, who can provide an innovative approach based on the main verticals: Life, Home, Seniors and Deaths. In addition to the acceleration of Insurtech startups, the insurer has started the 2nd Edition of its Intrpreneurship Program, Santalucía PROMOTES employees, what are you looking for develop the entrepreneurial spirit of the company's employees through the incubation of projects that have the possibility of evolving in the acceleration program.

However, each partner will have their own challenge. Howden Iberia will launch two different challenges, one focusing on customers and the business, and the other focusing on finance. CESCE, for its part, seeks a combination of more traditional companies with startup innovation, and Informa and Logalty wants to develop an environment for inserting self-executing capsules. In the words of Francisco Estevan, CEO of Innsomnia, “this is the first time that a group of operators, who are not in competition with each other, have come together to design their own challenges within the framework of a common accelerator, which is Innsomnia”

What is the Open Insurtech Hub?

With this program, Innsomnia seeks to develop a prototype in 4 months with startups, validate business models and provide visibility, in addition to providing the possibility of collaborating with large companies, such as Santalucía insurance. To this end, during the program, the accelerator offers participating startups mentoring and mentoring by experts.Open Insurtech Hub is a pioneering project in Spain, which by combining large companies with nascent insurtech companies, will result in great business and innovation opportunities.