February 5, 2018 09:45
Photo : Freepik
The assurtechs canadian can take advantage of a program launched by Aviva Canada and the innovation centre for startups OneEleven in order to help them to grow. The companies reveal that 74 % of insurers believe that their business will be disrupted by the assurtechs who » make a lot of waves in the industry.»
Aviva will act as a mentor to start-ups that offer a service or solution that can be used in the insurance industry. In all, six assurtechs will be able to benefit from the program. These companies will have the right to have meetings with members of the senior management of Aviva, access to the community and to the events organized by OneEleven and educational sessions on access to customers, talent and capital, in particular.
Investment of$ 170 Million
Aviva aims to invest $ 170 million over the next three to five years in startups and technology. Since 2015, Aviva has invested in startups through its subsidiary risk capital Aviva Ventures.
«There are a growing number of assurtechs that are experiencing rapid growth in Toronto,» says Ryan Spinner, director of innovation at Aviva. Insurance is a massive industry that touches virtually all Canadians, and is always challenged with the process of aging. We believe that it is time for a disruption and we are excited to be working with these startups to make it happen. «
«Not only is this program will encourage innovation in the insurance industry, but it will also provide resources and a network for innovative startups to build their business and grow their operations,» adds Bilal Khan, CEO of OneEleven. It is a win-win situation for all parties involved and we look forward to seeing what solutions are disruptive and who will emerge from the program. «