Singlife is the first financial services partner to collaborate with Microsoft for the Startups Programme in ASEAN, aiming to support insurtech startups in scaling their operations within the regional financial services landscape.
Under the partnership, Singlife will work closely with Microsoft to identify potential participants for the Singlife Connect Plus (SCP) program, an advanced version of the Singlife Connect (SC) accelerator and venture-building program.
The SCP programme will primarily focus on developing scalable solutions for insurance distribution, offering personalised mentorship, and granting access to Singlife’s comprehensive range of products and insurance offerings.
Additionally, the programme aims to support eight insurtech startups by providing them with regulatory and compliance assistance to effectively execute their go-to-market strategies.
Startups identified by Microsoft will receive technical guidance, execution support, and workshops on integrating Generative AI into their solutions. They will also gain access to Microsoft’s Founders Hub, as well as prominent organizations such as OpenAI, LinkedIn, and GitHub. Furthermore, these startups will have the opportunity to be nominated for the Microsoft Pegasus program.
Varun Mittal, Head of Innovation and Ecosystem at Singlife, highlighted the significance of robust support networks in scaling businesses and transforming innovative concepts into reality. Singlife, with its presence in Singapore and the Philippines, aims to leverage its position to assist innovative minds in the ASEAN region and help them unlock their full potential. As Southeast Asia becomes a thriving hub for technology and innovation, Singlife aims to lead the insurtech transformation and contribute to the growth of the ecosystem.
Michael Smith Jr., General Manager for Startups in APAC at Microsoft, emphasized the value of generative AI for startups, particularly those with an early adopter mindset. Smith noted that generative AI empowers startups with innovation, providing them with a competitive edge. Microsoft has witnessed numerous best practices among its members in the Microsoft for Startups Founders Hub and looks forward to identifying high-growth insurance technology startups in ASEAN with the help of Singlife.
Singlife Connect, the accelerator and venture-building program, focuses on developing scalable solutions for insurance distribution and offers personalised mentorship, along with access to Singlife’s full suite of products and services. The eight insurtech startups selected for the SCP program will receive comprehensive support, including regulatory and compliance guidance, to effectively execute their go-to-market strategies.
