Eos Venture Partners closes strategic InsurTech Fund
Eos Venture Partners announced the close of its strategic InsurTech Fund, that “invests in leading global InsurTech companies and simultaneously encourages and facilitates engagement between incumbents and emerging technology providers.”
Strategic Limited Partners in the fund comprise of insurers and reinsurers from the UK, Europe, US, Canada and Asia and include leading players like Tokio Marine and Direct Line Group. Total funds under management are $85m.
The fund has already made six investments in the UK, US, China and India. The portfolio companies operate across the insurance value chain including automated and AI assisted underwriting and claims and span multiple product verticals covering Small Medium Enterprises (SME), global supply chains, sharing economy, motor and home.
“We are delighted to welcome Tokio Marine, one of the largest global property and casualty insurers and Direct Line Group, one of the UK’s leading personal lines and small business insurers to the fund. Having insurance partners from many of the leading insurance markets and across commercial and personal lines means that we have a powerful global innovation community.” – Carl Bauer Schlichtegroll, Founding Partner of Eos.
“This partnership will give us a window into the trends developing around the world of InsurTech. We want to disrupt the market with new and innovative products and services for our customers and being part of Eos’ global innovation community will help us deliver this.” – Penny James, CEO of Direct Line Group.