Nationwide Commits $100M to Next Generation of Insurance and Financial Services
Nationwide says it has made a commitment to invest more than $100M of venture capital in customer-centric solutions that help members: (1) live comfortably in retirement, (2) meet their insurance and financial needs in novel and digital ways, (3) protect their data and digital assets, and/or (4) protect them in the evolving area of mobility. The announcement follows the launch of Nationwide Ventures last year, which has already invested in Insurify, Next Insurance, and Sure; to name three, as well as the opening of a business incubator and an innovation hub called Refinery 191. Recall noteworthy insurers with innovation units below.
Bottom Line: Nationwide, now in the same boat as QBE and Baloise ; two grand insurers, each committing some $50M each for insurtech investments.