Co-operators launches Insurtech fund

CPE Media News (4/9/2019) – The Co-operators has launched an Insurtech fund to facilitate partnerships with Insurtech firms.

The unnamed fund will focus 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, a market-leading solution leveraging the Slice Insurance Cloud Services™ (ICS) platform.

photo credit: The Co-operators

News Release

The Co-operators introduces fund for Insurtech investment Français

TORONTO, April 9, 2019 /CNW/ – The Co-operators is further expanding its Insurtech investment by introducing a fund to facilitate partnerships with Insurtech firms. The investment fund reflects the organization’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, 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 organization’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, a market-leading 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 InsurTechfund@cooperators.ca.

About The Co-operators:
The Co-operators Group Limited is a Canadian co-operative with more than $41.7 billion in assets under administration. Through its group of companies, it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers in Canada by Aon Hewitt and Corporate Knights’ Best 50 Corporate Citizens in Canada. For more information, visit www.cooperators.ca.

SOURCE The Co-operators

For further information: Michelle Robichaud, The Co-operators, media@cooperators.ca

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