Most insurance companies have set up venture capital units, or plan to do so, with the goal of getting a foothold in emerging technologies. That's according to a recent KPMG survey of 200 insurance executives, titled "The New Deal: Driving insurance transformation with strategy-aligned M&A."
Fifty respondents said they already had a venture capital (VC) unit set up to make investments in technology companies. Half of those VC units have $250 million or more to invest, with several reporting $1 billion in investment outlays. A further 37 percent of the total respondents said a VC unit was in the works.
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