MENA Insurance Lab (MENA InsureLab), a regional enabler of collaboration within the insurance industry, has signed a Memorandum of Understanding (MoU) with Tokyo-headquartered Plug and Play Japan, the global innovation platform, to empower innovation in the Middle East insurance ecosystem.
With over eight years of experience supporting InsurTech innovation in Japan—ranked as the world's fifth-largest insurance market—Plug and Play Japan will bring its expertise, global network, and innovation programmes to the Middle East. MENA InsureLab will provide access to a robust network of insurers, regulators, and industry stakeholders across the Middle East and North Africa. By combining forces, both organisations aim to accelerate the digital transformation of the insurance industry, leveraging global best practices and regional insights.
As part of the partnership, Plug and Play Japan and MENA will host an event in December 2025, spotlighting cutting-edge InsurTech solutions and fostering connections between Japanese and Middle Eastern insurance leaders.
Mr Phillip Vincent, managing partner, APAC CEO, Japan, Plug and Play Japan, said in a statement, "Our collaboration with MENA InsureLab marks an exciting step toward unlocking innovation across the Middle East’s insurance landscape. By leveraging their deep local market insight alongside our global reach and experience supporting insurance companies with their open innovation activities, we aim to accelerate cross-border partnerships, empower innovators, and drive meaningful industry change. Together, we are laying the groundwork for a resilient, forward-looking insurance ecosystem that benefits stakeholders in the Middle East region."
Ms Aicha Ghaffari, managing director of Delaware-based MENA InsureLab, said, ”This collaboration is not just about technology—it’s about building a stronger, more connected insurance ecosystem for the future.”