P&C Ventures to Continue SCOR’s Long History of Innovation
The unit was formed to bring decision-makers and resources to entrepreneurs and innovators; currently on a mission to form long-term partnerships with entrepreneurs to develop “technology-driven insurers, distributors, and risk management solutions.” Two things to note: (1) It will bring to the table a technically-oriented reinsurer that has engaged with big-data analytics and modeling companies for many years, before ‘insurtech’ was a word. (2) It will offer the right partners reinsurance, insurance paper in selected circumstances, and/or equity alongside re/insurance, as well as domain knowledge and access to its global network of insurance clients. BTW, it can underwrite most major lines of business and geographies globally.
Also, it has a “flexible mandate” and can operate as a stand-alone unit or in support of SCOR’s underwriting, IT, and other business segments. Last, it believes in fewer, deeper relationships.