American insurance company Grange Insurance and its affiliate partner Integrity Insurance have joined forces with startup studio Rev1 Ventures to support insurtech-focused startups.
Dubbed G-Force Innovations, the collaboration will aim to help Grange better identify and work with start-ups and emerging technologies.
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It will link support insurtech start-ups with resources, technologies, industry experts and markets to validate, develop and deploy market advancements.
G-Force Innovations will look to develop insurance solutions for a connected world, including usage-based insurance and proactive claims mitigation capabilities.
Solution will also be developed in the areas of customer experience enhancement, and analytics and automation.
Grange chief information officer Tim Cunningham said: “We know our industry is constantly changing and we are committed to being on the forefront of that change.
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By GlobalData“It’s exciting to collaborate with Rev1 because they have a proven program for building and scaling startups. We look forward to accelerating innovation within our own business, our industry and, ultimately, benefiting customers and agents by making interactions with us simple, quick and personalised.”
Rev1 Ventures CEO Tom Walker said: “Grange has a proven passion for innovation, and this partnership reinforces both of our commitments to engaging startups in new and impactful ways so we can deliver insurance innovations both locally and globally.”
Grange Insurance manages $3b in assets and generates more than $1b annual revenue. The company offers business, auto, home and life insurance through its independent agents in 13 US states.
