Plug and Play Cleveland's Innovation Platform Announces Progressive Insurance as its Newest Member

Progressive's Membership Marks the First Corporate Partner Focused on Insurtech in Cleveland

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Jun 27, 2018, 08:00 ET

CLEVELAND, June 27, 2018 /PRNewswire/ -- Plug and Play Cleveland today welcomed Progressive Insurance as the newest member of the organization's Innovation Platform. They are the first insurance company to join the Cleveland ecosystem. Progressive will participate as a dual partner in both Cleveland and the Insurtech program at Plug and Play headquarters in Silicon Valley. Progressive will leverage the platform to evaluate cutting edge insurance technologies.

Plug and Play is a Global Innovation Platform and investor connecting startups, corporate partners and investors from around the world. Platform membership is open to all corporations interested in exploring technologies that provide viable solutions to unresolved business challenges.

Progressive is the nation's fourth largest auto insurer; a leading seller of motorcycle and commercial auto insurance, and through American Strategic Insurance (ASI), one of the top 20 homeowners carriers. Founded in 1937, over 18 million drivers trust Progressive to insure their vehicles.

"We're excited to be joining Plug and Play and their innovative pipeline," said Andrew Quigg, Chief Strategy Officer at Progressive Insurance. "We're looking forward to collaborating with startups in the insurance space to learn and better understand the different opportunities which they bring. Our goal as a company is to continue to grow and joining Plug and Play, one of the largest and most well-known global accelerators, will enable us to explore new and innovative options."

Plug and Play Cleveland facilitates a 12-week Innovation Platform, twice a year, for startups looking to connect with large corporations. In partnership with Cleveland Clinic, JumpStart Inc., and Progressive Insurance, Plug and Play Cleveland provides opportunities for startups to collaborate alongside business leaders and clinical champions. Many of these startups then leverage these connections to establish more formal agreements, including pilots, proof of concepts and joint ventures to advance their business objectives. Plug and Play Cleveland may provide funding to companies that best align with their corporate partner's needs.

Applications for startups who are interested in participating are accepted on a rolling basis. To apply, please visit: https://www.plugandplaytechcenter.com/join/

About Plug and Play

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit http://plugandplaytechcenter.com

Contact: Chantel Moody, 216.534.8771, [email protected]

SOURCE Plug and Play