"Aviva is one of the UK's largest health insurers and Psious helps psychologists to treat patients suffering from phobia and anxiety. Studies have shown that experiencing these phobias in Psious' VR software has markedly beneficial effects on those patients.Founders Factory is hot-housing many startups with several high profile corporate partners, including easyJet and L'Oreal. FOunded by Lastminute.com entrepreneurs Brent Hoberman and Lane Fox, they have an ambitious goal of creating 200 successful startups over the next five years. The incubator and accelerator first partnered with Aviva last year to foster fintech startups, something the insurer is increasingly investing in with its "digital factory" in Shoreditch. “The insurance industry is facing some of the biggest challenges in its 300-year history. People’s needs are rapidly evolving, while a number of emerging technologies have the potential to transform the insurance value chain and provide numerous opportunities to serve our customers better," said Aviva's director of innovation and new business Serge Taborin.
"So really we are exploring how Psious could pioneer a new technology to help Aviva better look after its healthcare customers – particularly when it enables treatment remotely. This makes treatment accessible to more customers and cuts costs for all parties involved."
"Startup collaboration is one of the ways we are tackling this challenge and the Founders Factory partnership has given us access to leading entrepreneurial talent, enabling a faster way of trialling innovative customer solutions."Aviva chief executive Mark Wilson has said it might even think of acquiring a startup in future. The company invests in the startups via its Venture arm through Founders Factory. The final two startups joining the programme are Luther Systems and Fitwell. The first is a UK-based blockchain developer which has completed pilots with Aviva with smart contracts for supplier invoicing and has further tests of the distributed ledger technology planned. And Fitwell, a Turkey-based startup is behind an AI-powered fitness coaching app. "The five startups selected for the accelerator are incredibly diverse- from VR to blockchain – demonstrating the depth of our ambition to unearth the technologies that will revolutionise insurance and financial services," said Fox.