Northwestern Mutual Sets Aside $50 Million for Insurtech Investment
Northwestern Mutual is launching a venture capital fund, Northwestern Mutual Future Ventures, with an initial $50 million purse to "engage startups whose technologies have the potential to transform how consumers experience and achieve financial security," the company announced today.
The unit will make investments ranging between $500,000 and $3 million to "fund digital solutions to help accelerate innovation and create value for the company’s clients," the company added. Investments will revolve around four key areas:
- Consumers’ changing preferences
- Reimagining the client experience
- Digital health
- Transformational analytics
“We want to make it easier for Americans to know what financial security is and how to achieve it,” said Rebecca Porter, vice president of corporate strategy and chairperson of the investment committee for Northwestern Mutual Future Ventures, in a statement. “We’re bringing together the strength and scale of a 160-year-old Fortune 100 company with leading-edge innovations of startups to transform financial planning through our trusted advisors and relevant digital tools.”