After a four-month search, PwC CEE has selected 13 FinTech startups from Poland, Russia, Hungary, Lithuania and Croatia for acceleration within its Startup Collider programme.

Claims Control is the insurance claims sharing system, which has been developed by Lithuanian Mr Laimonas Stončius and it is among the most successful startups participating in the first cohort of this business acceleration programme, PwC announced in a press release.

Claims Control is an open API hub, which integrates claims systems with each other and a freemium SaaS Claims Handling Portal for SMEs (insurance brokers, motor fleets, loss adjusters, freight forwarders), who do not have their own claims systems. Claims Control has online claim cases which can be shared with all claims handling process participants. They also get all case updates by automated emails or via APIs.

“I believe that the Claims Control solution has a potential to improve a usual claims regulation process. By participating in this acceleration programme and resorting to PwC global network, I’m expecting fast international expansion. We are working with two dedicated mentors on my business plan at the moment and after a few weeks of collaboration, I already see benefits of this programme,” Mr Stončius said.

Over 100 startups from 14 countries started the application process for the Startup Collider accelerator. Three of them were received from Lithuania. The main criteria for participants included: focus on FinTech solutions for B2B, truly innovative solutions for real customer problems, having a minimum viable product and some proof of product-market fit, ability to base themselves in Warsaw for 12 weeks of the acceleration program, wish to develop business and collaboration opportunities with PwC and its clients. There are solutions based on artificial intelligence, robotics, block-chain and other technologies and etc. among programme participants.

Rimvydas Jogėla, Country Managing Partner of PwC Lithuania, adds: “I’m delighted that the Claims Control system from Lithuania is among the participants and I hope that this acceleration program will be its starting point. This solution was recognised as being potentially interesting to our clients from insurance sector. Partners who interviewed Laimonas found the project interesting and worth being developed further. Despite its rather early stage of development, we have to work intensively on a business plan. I hope that professional support and other opportunities of this program will help Mr Stončius obtain a position in the market and realise his vision”.

Startup Collider is a new initiative for nurturing and promoting startups from CEE, with a focus on startups with solutions for the financial services sector in the first cohort. PwC provides the startups with a co-working space, a residence for their accommodation during the acceleration program, highly qualified dedicated mentors and a shorter route to market.