Tokio Marine launches early-stage corporate VC, more in roundup
April 27, 2022 6:32 AM
Tokio Marine has partnered with the World Innovation Lab to launch a corporate venture capital fund, the Tokio Marine Future Fund, for investment in insurtechs. The fund will target early-stage companies, up to Series A, with investments up to $3 million, it says in an announcement. World Innovation Lab, headed by former Metromile CEO Steve Pretre, will manage the fund. Tokio invests in later-stage companies through World Innovation Lab, it says.
Orion180, a homeowners insurer that launched in 2017 and has $150 million in premium across six states, has launched a mobile app for both customers and agents. Agents can create quotes, search policies and review claims without having to use a desktop computer. Customers get mobile access to standard policy management tools. The company says it will add more features including a chatbot and messaging down the road.
MGA Embark, which launched in 2018, has expanded into Florida via partnership with Incline P&C Group. The company develops and manages custom insurance programs, it says; focusing particularly on underserved segments like the non-standard market. Embark offers online policy management and multilingual service as well.
Other partnerships of note:
• Sapiens and Mindtree have partnered up on a program to support digital transformation efforts using each other’s technology.
• Ennabl and Relativity6 have joined forces to include the latter’s search and classification technology in the former’s broker platform.
• Sapiens and Mindtree have partnered up on a program to support digital transformation efforts using each other’s technology.
• Ennabl and Relativity6 have joined forces to include the latter’s search and classification technology in the former’s broker platform.