Zurich Insurance and DIFC Innovation Hub partner to empower insurtech start-up ecosystem in the Middle East
New collaboration encompasses FinTech Accelerator Programme in DIFC
Zurich Insurance Group (Zurich) – the Switzerland-headquartered global multi-line insurer – has entered a strategic alliance with DIFC Innovation Hub, the top-rated fintech and innovation ecosystem in the Middle East region, to empower the latter’s FinTech Accelerator Programme.
The FinTech Accelerator Programme is an insurance start-up platform with open admissions.
Zurich joins nine collaborators already in the FinTech Accelerator Programme and is steering the new tie-up via its Middle East-based entities – Zurich Commercial Insurance and Zurich International Life.
Zurich’s latest partnership with the FinTech Accelerator Programme is part of the Swiss group’s mission to nurture insurance start-up talent and cultivate an innovation-driven environment by developing entrepreneurship and providing start-ups with mentors.
3,000+ entrepreneurs
Over 3,000 entrepreneurs have entered The FinTech Accelerator Programme to date, while over 150 fintechs, regtechs, insurtechs and Islamic finance start-ups have since graduated from the programme.
The FinTech Accelerator Programme has been collaborating with Zurich’s Innovation Championship and has received more than 4,500 proposals.
This collaboration began in 2017 with Zurich Commercial Insurance and is now joined by Zurich International Life; it aligns with Zurich’s commitment to promote entrepreneurship and turn start-ups into flourishing organisations, mainly in the Middle East region.
In a statement, both Peter Englund, Senior Executive Officer of Zurich Commercial Insurance, and Mufazzal Kajiji, Chief Executive Officer of Zurich International Life, noted: “Through the FinTech Accelerator Programme, we want to be at the forefront of empowering entrepreneurs to realise their vision and where participants can drive their businesses, cultivate a growth mindset, pitch technology-driven solutions, and bring society-impacting ideas to life.”
Partnership hailed
Separately, Mohammad Alblooshi, Chief Executive Officer of DIFC Innovation Hub, said: “We are delighted to partner with Zurich, a global leader with a solid commitment to entrepreneurship and innovation.
“Our FinTech Accelerator Programme offers a platform for ambitious start-ups, and with the support of Zurich, we can collectively shape the future of the insurance industry.
“We see this as a pivotal moment on our path to foster an environment that drives creativity, advancement, and agility for the start-up community,” Alblooshi added.
The ninth edition of the three-month-long FinTech Accelerator Programme announced in July 2023 is set to open with an in-person boot camp at the DIFC Innovation Hub, Gate Avenue, Dubai Future District.
Led by industry experts and thought leaders, workshops at the boot camp will provide insights into country laws and regulations, upcoming market trends, technology trends, recruitment strategies, and funding avenues.
For more FinTech Accelerator Programme information: https://innovationhub.difc.ae/programmes/2023-FinTech-Accelerator-Programme
Featured image: (L-R) Mufazzal Kajiji, Mohammad Alblooshi and Peter Englund, following the signing of the new Zurich-DIFC Innovation Hub FinTech Accelerator Programme partnership agreement in Dubai. Image: Zurich Insurance Group
