Aviva, the UK’s leading insurer, announces today it is expanding its investments in fintech and insurtech through a new collaboration with venture capital firm Anthemis.
Aviva aims to transform its customer experience through innovation. To support this goal Aviva, working with Anthemis, has committed to invest new capital in innovative companies that are advancing the digital transformation of the financial services sector. Anthemis will deploy capital on behalf of Aviva through various funds focused on early and growth stage investments1 in fintech and insurtech.
Ben Luckett, Chief Innovation Officer at Aviva*, comments:
We’re always looking for investments that create value for Aviva and our customers.
“We’re always looking for investments that create value for Aviva and our customers. Not just short-term financial gain, but investments that give us access to the latest technologies and the best insight. They help us shape our strategy, how we do business and how we meet our customers’ ever-changing needs.
“We are very pleased to strengthen our partnership with Anthemis and extend our access to fintech and insurtech start-ups. Anthemis is an exciting platform which gives us that strategic seat at the table.
“Anthemis has a record of putting diversity and inclusion at the heart of its investment decisions, and we will work closely to ensure that all investment opportunities are evaluated with due regard to diversity and inclusion.”
Anthemis Founder and Chief Executive Officer Amy Nauiokas, said:
“For over 10 years, Anthemis has sought to partner with individuals, companies and institutions that share in our mission to build a more resilient, representative and inclusive financial services ecosystem that functions in the service of our society.
“Our partnership with Aviva will allow us to extend our commitment to reshaping financial services with an increasingly diverse cohort of founders. A more representative financial services ecosystem is not possible without the support of large institutions, and so we are particularly encouraged to work alongside Aviva whose leadership is an embodiment of this.”
1 Early stage investment (Pre-seed - Series A): Early stage businesses generally have a tested prototype or service model and have developed a business plan. The company may be generating early stage revenue but might not be profitable yet. Growth Stage Investment (Series B - beyond): Growth stage businesses have solid traction and existing customers, generating recurring revenues and experiencing solid growth.
*Ben Luckett has been appointed Chief Innovation Officer on 20 January 2021. For the past few years, Ben and his team have made great progress with Aviva Ventures, making strategic investments in early-stage businesses that have the potential to transform the insurance industry. Ben will now build on this to drive Aviva’s innovation agenda forward, developing customer-centric propositions.
Anthemis cultivates change in financial services by investing in, growing and sustaining businesses committed to improving the world. We are founded on three guiding principles — authentic collaboration, virtuous cycle outcomes, and diversity and inclusivity — and our deep understanding of markets and models, passion for emerging technology and values inspire everything we do. By creating fertile ground for a diverse group of startups, investors, entrepreneurs, institutions, academics and visionaries to converge, we believe we can solve the financial services world’s most pressing challenges faster, better and for the benefit of all.
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Notes to editors:
- For information on how Aviva is helping our people, customers and communities impacted by COVID-19 visit: www.aviva.com/covid-19-our-response/
- We exist to be with people when it really matters, throughout their lives – to help them make the most of life. We have been taking care of people for more than 320 years, in line with our purpose of being ‘with you today, for a better tomorrow’.
- In 2020, we paid £30.6 billion in claims and benefits to our customers.
- Aviva is invested in our people, our customers, our communities and our planet. In 2021, we announced our plan to become a Net Zero carbon emissions company by 2040, the most demanding target of any major insurance company in the world. This plan means Net Zero carbon emissions from our investments by 2040; setting out a clear pathway to get there with a cut of 25% in the carbon intensity of our investments by 2025 and of 60% by 2030; and Net Zero carbon emissions from our own operations and supply chain by 2030. Aviva has been leading this agenda for decades: Aviva was the first international insurer to go operationally carbon neutral in 2006 and we are champions of renewable energy and energy storage at our offices, allowing us to achieve our 2030 carbon reduction target (70% reduction on 2010 levels) 10 years early. Find out more about our climate goals at www.aviva.com/climate-goals and our sustainability ambition at www.aviva.com/sustainability.
- Aviva is a Living Wage and Living Hours employer and provides market-leading benefits for our people, including flexible working, paid carers leave and equal parental leave. Find out more at www.aviva.com/social-purpose
- We are focused on the UK, Ireland and Canada where we have leading market positions and significant potential. We will invest for growth in these markets. Our international businesses in Europe and Asia will be managed for long-term shareholder value. We will also transform our performance and improve our efficiency. Our transformation will be underpinned by managing our balance sheet prudently, reducing debt and increasing our financial resilience.
- Total group assets under management at Aviva group are £535 billion and our Solvency II capital surplus is £13.0 billion (FY20). Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
- For more details on what we do, our business and how we help our customers, visit www.aviva.com/about-us
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