Plug and Play and GNP announce the continuation and strengthening of their partnership to boost the innovation path and digital transformation in the insurance market in Mexico
SUNNYVALE, Calif., Nov. 16, 2022 /PRNewswire/ -- Plug and Play Tech Center, the largest global innovation platform based in Silicon Valley, announces the continuity of the partnership with Grupo Nacional Provincial (GNP), Mexico's largest insurer. Working with Plug and Play gives GNP the unique opportunity to provide new and creative services to its customers while advancing its digital transformation agenda. Through access to the most promising startups in the world, GNP expects to make significant progress in its mission to deploy technologies to enhance the insurance sector exponentially.
GNP has been using Plug and Play's ecosystem for the past two years to digitize their mass channels and now they will focus on implementing new technologies to improve the customer journey. As the largest Mexican Insurer and the second largest in Latin America, driving innovation is a key component of their strategy.
"At GNP we are convinced that Innovation is crucial to achieving our strategic objectives, particularly with an increasing emphasis on open innovation which will help us lead the digital transformation for the insurance industry. Working with Plug and Play has been very profitable in terms of learning about emerging technologies and working with startups; that is why we are determined to create a wider appetite for innovation interally across our business units through this collaboration," says Abel Ocampo, Head of Innovation Drive at GNP.
Plug and Play's mission is to open innovation and technology to anyone, anywhere. This partnership will pave the road for many important players in Mexico and Latin America to collaborate with startups to accelerate digital and cultural transformation.
"Looking across the insurance market today, we see a growing innovation ecosystem and GNP wants to play a leading role in it. We see technology is constantly changing [accelerating] and through this partnership, we want to excel in the use of emerging technologies to lead through innovation in the region and achieve our goal of insuring more Mexican families," said Alberto Rendon Plauchu Director of Strategic Planning and Business Transformation.
"We are very proud of welcoming GNP to our innovation platform. Mexico is a very important player in Latin America and this partnership will definitely push the digital agenda to promote economic development through collaboration with startups. We truly admire GNP's commitment to improving their customers' experience utilizing the most advanced technologies from around the globe," said Saeed Amidi, Founder and CEO of Plug and Play.
GNP Insurance, a proudly Mexican company with over 120 years of history, is regarded as the most experienced company for the quality of products and knowledge of the insurance market in Mexico. They are a subsidiary of GRUPO BAL, one of the top financial and industrial conglomerates in the country.
As of December 2021, GNP registered a 13.4% market share providing coverage to more than 7.6 million clients across their lines in Life, Health, Property and Casualty, and Auto Insurance.
With a firm commitment to improving the life of Mexican families through a wide range of social programs, GNP strives to generate a positive and tangible impact in the communities they operate.
About Plug and Play
Plug and Play is the leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we're present in 50+ locations across 5 continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we've invested in hundreds of successful companies including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi. For more information, visit https://www.plugandplaytechcenter.com/
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