Baloise to invest $50m in insurance and risk management tech start-ups
Switzerland-based insurance provider Baloise Group has forged an investment partnership with Anthemis Group, a digital financial services investment and advisory firm.
The partnership – Anthemis Baloise Strategic Ventures – will curate the UK, European and US tech start-ups developing insurance (insurtech) and risk management solutions, with a mandate is to invest CHF 50 million ($50 million).
“Insurance incumbents have a unique opportunity to capitalise on lessons learnt from the financial services world’s venturing successes and mistakes,” comments Gert De Winter, group CEO of Baloise.
Both firms state that collaboration between start-ups and insurance incumbents are key to transforming the industry.
By Soumik Roy, editorial contributor to Banking Technology