The Co-operators introduces fund for Insurtech investment

Wednesday, 10 April 2019

Canadian ICMIF member The Co-operators is further expanding its Insurtech investment by introducing a fund to facilitate partnerships with Insurtech firms. The Co-operators says that the investment fund reflects the organisation's commitment to address the unmet insurance and financial services needs of Canadians participating in a fast-paced and ever-changing digital economy.

"Innovation is key to providing financial security for Canadians and communities," says Rob Wesseling (pictured), President and CEO, The Co-operators. "We're collaborating with Insurtechs that offer cutting-edge technology and solutions to meet the changing needs and preferences of our clients."

In support of the organisation's innovation strategy, the fund focuses on investment priorities aligned with three key themes: meeting emerging and underserved insurance needs, enriching the resiliency of Canadians, and adapting to the changing nature of transportation.

The Co-operators entered into its first Insurtech partnership in 2018, teaming up with Slice Labs Inc. (Slice) to launch a digital insurance brand – Duuo by Co-operatorsTM, an innovative solution leveraging the Slice Insurance Cloud Services™ (ICS) platform.

Insurtech companies interested in learning more about The Co-operators and its fund are encouraged to submit a high-level summary of their company and technology to Daniel Sinclair, Vice President of Corporate Development at InsurTech_fund@cooperators.ca.