MMV, which now has $250 million total capital under management, will invest in 10 to 15 startups in the region over the next three years through new unit, MMV Southeast Asia.
Schmitt most led Business Strategy within key operating units at State Farm and earlier held the title of VP of Investment Banking in Barclay’s M&A division.
Senior business and technology leaders from Aviva, Axis, The Hartford and Montana State Fund discussed business cases, success criteria, culture and the industry’s data/analytics performance.
As insurers struggle to replace retiring professionals, outsourcing data management can provide access to AI and other kinds of technology-driven automation.
The InsurTech phenomenon has entered a ‘second wave,’ wherein investment in new startups has plummeted, but funding remains robust for more established innovators.
The new center is designed to advance innovation, ideation and experimentation for employees and community partners, including local startups.
During his remarks in the general session, the new chairman noted that he is the fourth Henry Gibbel to lead Lititz Mutual and the third to serve as NAMIC chairman.
With the appointment of a new director, Brian Hemesath will become alumni advocate and entrepreneur-in-residence, working in a support role for the InsurTech accelerator.
The latest release, completed within an aggressive timeframe, includes new digital tools and enhanced products, as well as telematics programs for both fleet and personal auto.
The Alliance combines Numerati Partners’ technical capabilities, engineering expertise, and risk technology expertise with Guy Carpenter’s insurance risk management expertise.