Helvetia, a Swiss insurer, has set up the Helvetia Venture Fund to invest in next generation InsurTech startups, which will contribute to the digital transformation of its existing core business, thus forging a path to future revenue streams and markets.
Unlike other multi-national venture arms within insurance, Helvetia Ventures invests on a regular basis and has already invested in 25 startups to the tune of €50 million. Although Helvetia will consider InsurTechs on a global basis, it’s primarily investing in countries in which it operates, i.e. Switzerland, Germany, France, Italy, Austria and Spain.
Philipp Gmür, Group CEO of Helvetia has encapsulated the funds approach: “The Helvetia Venture Fund will make a substantial contribution to the successful implementation of the Helvetia 20.20 strategy. In order to make use of business model innovations, we want to invest in the appropriate startups and work together with them.”
Additionally, rather than hire or promote internal Helvetia employees to manage the Helvetica fund, Helvetica has made the shrewd move of partnering with an already established VC: b-to-v Partners AG. The Helvetia Venture Fund will thus benefit from the startup deal flow and the experience of b-to-v early stage investment expertise. It’s worth noting that Helvetia, as the sole LP (capital provider) will be heavily involved in investment decisions.
Ultimately, with the ubiquity of mobile devices and seamless internet connectivity, this Helvetia initiative is embracing the inevitable. Strategic partnerships will equip Helvetia to leverage its existing capability and infrastructure to support and spin off startups that will successfully cater to the customers readiness and preference for new, simplified and improved experiences – a digital imperative which will otherwise be difficult to achieve going solo.