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Vitech Systems Group, a New York-based provider of administration software to retirement, insurance and investment organizations, has formed a strategic partnership with Innovation Underwriters (IU), a not-for-profit collaborative focused on promoting innovation within the insurance industry.
Innovation Underwriters supports InsurTech venture development and promotes innovation as a growth strategy for insurance leaders. Its ecosystem includes InsurTech experts, startups, corporations, governments, academic institutions, and others. In addition to Vitech, IU has partnered with the Cambridge Innovation Center, MIT Sloan Executive Education, leading insurance companies, and a growing number of InsurTechs.
“The insurance industry is in the midst of a technology-driven revolution affecting every part of the value chain,” comments Stephen Brandt, SVP of Insurance Sales, Vitech. “Our partnership with IU will help us continue to bring innovative and transformative digital solutions to our clients as they seek to take part in this exciting industry transformation.”
As a Strategic Launch Partner, Vitech reports that it will aid IU in bringing insurance leaders together to collaborate, innovate, and solve industry challenges. IU creates opportunities for collaboration by producing events, working groups, and leadership forums to generate new ideas and solutions, and amplifies them to the industry. Vitech says it will help drive the conversation in IU’s ecosystem, ultimately helping to strengthen relationships in the InsurTech community and develop solutions for the marketplace.
Leadership and Influence
“A confluence of forces from rating agencies, investors, customers, and new technologies is creating an environment where the ability to quickly adapt and transform is the only sustainable competitive advantage for insurance providers,” comments Charlie Sidoti, Executive Director, Innovation Underwriters. “Vitech’s leadership and influence within the IU ecosystem will shape the practice and culture of innovation seen across the industry.”